Scotts (SMG) Q3 Earnings: How Key Metrics Compare to Wall Street Estimates
Scotts Miracle-Gro (SMG) reported $1.12 billion in revenue for the quarter ended June 2023, representing a year-over-year decline of 5.7%. EPS of $1.17 for the same period compares to $1.98 a year ago.
The reported revenue compares to the Zacks Consensus Estimate of $1.16 billion, representing a surprise of -3.61%. The company delivered an EPS surprise of -17.02%, with the consensus EPS estimate being $1.41.
While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
Here is how Scotts performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
Net Sales- U.S.Consumer: $916.40 million compared to the $951.77 million average estimate based on five analysts. The reported number represents a change of +1.3% year over year.
Net Sales- Corporate & Other: $108.90 million compared to the $116.21 million average estimate based on five analysts. The reported number represents a change of -14.3% year over year.
Net Sales- Hawthorne: $93.40 million versus $102.58 million estimated by five analysts on average. Compared to the year-ago quarter, this number represents a -39.6% change.
U.S. Consumer- OI Adjusted: $124.80 million compared to the $139.09 million average estimate based on two analysts.
Corporate- OI Adjusted: -$3.40 million versus the two-analyst average estimate of -$33.20 million.
Other- OI Adjusted: $5.80 million compared to the $7.18 million average estimate based on two analysts.
Hawthorne- OI Adjusted: -$8.70 million versus the two-analyst average estimate of -$12.91 million.
View all Key Company Metrics for Scotts here>>>
Shares of Scotts have returned +10.6% over the past month versus the Zacks S&P 500 composite's +3% change. The stock currently has a Zacks Rank #4 (Sell), indicating that it could underperform the broader market in the near term.
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
The Scotts Miracle-Gro Company (SMG) : Free Stock Analysis Report
