Tuesday, The Scotts Miracle-Gro Co. (SMG) said its first-quarter loss from continuing operations narrowed to $49.8 million or $0.76 per share from $52.9 million or $0.82 per share in the prior year period. Net loss for the quarter widened to $57.7 million from $57.0 million in the earlier period. Net loss per share for the quarter remained flat at $0.88.
The company said that the adjusted loss from continuing operations, which excludes the costs related to product registration and recall matters, was $48.1 million or $0.73 per share compared with a loss of $48.0 million or $0.74 per share in the year-ago period. On average, 10 analysts polled by Thomson Reuters expected the company to report loss of $0.83 per share for the quarter.
Net sales for the quarter rose 6% to $302.2 million from $286.1 million in the comparable period. Seven analysts estimated revenues of $288.27 million for the quarter.
The company re-affirmed its full-year outlook on an adjusted basis at a range of $3.00 - $3.10 per share, assuming sales growth of 3% - 5%, flat gross margin rate and flat SG&A. The forecast assumes interest expense to be at the high-end of the original outlook of $50 million - $55 million due to the company's $200 million senior notes offering completed in January, but excludes the impact of product recall and registration matters. Elven analysts estimate earnings of $3.12 per share for the year.
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June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.