MARYSVILLE, Ohio (AP) — MARYSVILLE, Ohio (AP) — Scotts Miracle-Gro Co. (SMG) on Wednesday reported a loss of $125 million in its fiscal first quarter.
The Marysville, Ohio-based company said it had a loss of $2.16 per share. Losses, adjusted to account for discontinued operations and non-recurring costs, came to 77 cents per share.
The results topped Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for a loss of $1.04 per share.
The lawn and garden products company posted revenue of $354.4 million in the period, which also beat Street forecasts. Five analysts surveyed by Zacks expected $350.6 million.
Scotts expects full-year earnings in the range of $4.15 to $4.35 per share.
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