The Scotts Miracle-Gro Co. (SMG) announced a profit for its second quarter that increased from the same period last year and beat the Street estimates.
The company's bottom line totaled $217.5 million, or $3.72 per share. This compares with $157.5 million, or $2.74 per share, last year.
Excluding items, The Scotts Miracle-Gro Co. reported adjusted earnings of $232.2 million or $3.98 per share for the period.
Analysts on average had expected the company to earn $3.93 per share. Analysts' estimates typically exclude special items.
The company's revenue for the period fell 7.2% to $1.42 billion from $1.53 billion last year.
The Scotts Miracle-Gro Co. earnings at a glance (GAAP) :
-Earnings: $217.5 Mln. vs. $157.5 Mln. last year.
-EPS: $3.72 vs. $2.74 last year.
-Revenue: $1.42 Bln vs. $1.53 Bln last year.
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