- Scotts Miracle-Gro press release ( NYSE: SMG ): Q1 Non-GAAP EPS of -$1.02 beats by $0.32 .
- Revenue of $526.6M (-7.0% Y/Y) beats by $24.16M .
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- Project Springboard to Exceed $185 Million Annualized Savings
- Net Leverage Ratio Within Covenant at 5.9X
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- FY23 Outlook:
- 20 to 30 percent decline in Hawthorne segment net sales
- Low single-digit decline in total Company net sales
- Low single-digit decline in gross margin rate
- Low single-digit percentage growth in adjusted operating income
- Low single-digit percentage growth in adjusted EBITDA
- Interest expense increase of approximately $60 million
- Effective tax rate of 26 to 27 percent
- Free cash flow of $1 billion over the next two years
For further details see:
Scotts Miracle-Gro Non-GAAP EPS of -$1.02 beats by $0.32, revenue of $526.6M beats by $24.16M