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 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.