AP NEWS

Scotts: Fiscal 4Q Earnings Snapshot

November 6, 2019 GMT

MARYSVILLE, Ohio (AP) _ Scotts Miracle-Gro Co. (SMG) on Wednesday reported a loss of $58.1 million in its fiscal fourth quarter.

On a per-share basis, the Marysville, Ohio-based company said it had a loss of $1.04. Losses, adjusted for asset impairment costs and to account for discontinued operations, were 91 cents per share.

The results missed Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for a loss of 87 cents per share.

The lawn and garden products company posted revenue of $497.7 million in the period, topping Street forecasts. Four analysts surveyed by Zacks expected $450.6 million.

For the year, the company reported profit of $460.7 million, or $8.18 per share. Revenue was reported as $3.16 billion.

Scotts expects full-year earnings in the range of $4.95 to $5.15 per share.

Scotts shares have risen 59% since the beginning of the year. The stock has increased 39% in the last 12 months.

_____

This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on SMG at https://www.zacks.com/ap/SMG