Scotts Miracle-Gro (SMG) reported first quarter adjusted income from continuing operations of $1.60 per share after the close Monday, down from $2.13 per share last year. The consensus estimate was for EPS of $2.00. The company reaffirmed its expectations for fiscal 2013 adjusted earnings per share from continuing operations in the range of $2.50 to $2.75. The consensus estimate is for EPS of $2.61.
Scotts Miracle-Gro posted gains in early trade Tuesday and advanced further around mid-afternoon. Shares finished up by 1.86 at $48.42 on above average volume. The stock rose past resistance and set over an 11 1/2 month high.
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