By Dean Seal
Scotts Miracle-Gro logged higher revenue and a smaller loss than Wall Street analysts had anticipated as shipments improved in the fall selling season.
The maker of lawn-care products posted a loss of $69.5 million, or $1.21 a share, compared with its year-earlier loss of $80.5 million, or $1.42 a share.
Stripping out one-time items, the adjusted loss was 89 cents a share. Analysts polled by FactSet had been bracing for a steeper shortfall of $1.23 a share.
Sales rose to $416.8 million from $410.4 million in the year-ago quarter, above the $392.1 million analysts had forecast, according to FactSet.
Revenue from Scotts' U.S. consumer business was up 11% at $340.9 million thanks to a strong fall season across its categories and early retailer load-in for the spring season.
Sales in its Hawthorne unit, which caters to cannabis growers, were down 35% at $52 million following its exit from third-party distribution last April.
Write to Dean Seal at dean.seal@wsj.com
(END) Dow Jones Newswires
January 29, 2025 07:30 ET (12:30 GMT)
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