logo
Share SHARE
FONT-SIZE Plus   Neg

Scotts Miracle-Gro Issues FY13 Guidance

Scotts Miracle-Gro Co. (SMG) Friday provided a financial guidance for the full year 2013. The mid-point of the earnings outlook is expected beat current Street estimates, while revenues are anticipated to fall short of expectations.

The Marysville, Ohio-based company expects adjusted earnings from continuing operations of $2.50 to $2.75 per share. Analysts polled by Thomson Reuters currently estimate earnings of $2.55 per share for the year. Analysts' estimates typically exclude one-time items.

Scotts Miracle-Gro expects full-year 2013 sales to grow about 1 to 3 percent on flat unit volume and improved pricing. This indicates revenues of $2.86 billion to $2.91 billion. Analysts currently estimate revenues of $2.91 billion for the year.

Scotts Miracle-Gro, a maker of lawn and garden care products, anticipates gross margin rate to improve with leverage in selling, general and administrative costs. Operating margin is expected to be in the range of 11 to 11.5 percent.

"We enter 2013 with confidence in our initiatives to drive gross margin improvement, reduce SG&A, improve cash flow and strengthen the overall enterprise," said Jim Hagedorn, chairman and chief executive officer.

SMG is currently trading at $42.97, up $1.12 or 2.68%, on the NYSE.

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Quick Facts

Editors Pick
Fast-food giant Burger King will be adding hot dogs to its menu in the US from February 23. According to Burger King's North American President Alex Macedo, this addition is the most significant menu addition for the burger chain since it added a chicken sandwich in the 1970s. Burger King will... Electric car maker Tesla Motors Inc. (TSLA), Wednesday reported a fourth-quarter loss that widened from last year, hurt largely by higher operating costs which offset an increase in revenues. However, shares of the company gained 11 percent after the company detailed a strong delivery target for 2016. Tesla,... Micro-blogging site Twitter Inc. (TWTR), Tuesday reported a smaller loss for the fourth quarter, as revenues surged 48 percent reflecting growth in its advertising business despite a stagnating user growth. The company detailed a weak revenue outlook for the first quarter. Investors are concerned...
comments powered by Disqus
RELATED NEWS
Trade SMG now with 
Follow RTT