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SMG - Why Scotts Miracle-Gro Stock Was Shriveling Today
Scotts Miracle-Gro Company
2023-08-02 12:53:41 ET
Shares of Scotts Miracle-Gro (NYSE: SMG) were taking a dive today after the maker of lawn care products posted disappointing results in its fiscal third-quarter earnings report and slashed its guidance for the year, showing that its turnaround strategy still isn't delivering the desired impact.
As of 11:12 a.m. ET, the stock was down 20.2% on the news.
Scotts Miracle-Gro said revenue fell 6% to $1.12 billion, missing analysts' consensus estimate of $1.16 billion.