Scotts Miracle-Gro ( (SMG) ) has released its Q4 earnings. Here is a breakdown of the information Scotts Miracle-Gro presented to its investors.
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Scotts Miracle-Gro Company is a leading marketer of branded consumer lawn and garden products, as well as indoor and hydroponic growing products, known for its flagship brands like Scotts, Miracle-Gro, and Ortho.
The company has reported its fiscal 2024 fourth-quarter and full-year results, showcasing a financial turnaround with key sales and margin improvements. Despite facing challenges, the company achieved a notable increase in U.S. Consumer sales and adjusted earnings.
Key financial highlights include a 6% increase in U.S. Consumer fiscal sales, aligning with guidance, and a significant improvement in the non-GAAP adjusted gross margin rate by 340 basis points. The company also reported a non-GAAP adjusted EPS of $2.29 and exceeded its free cash flow target, achieving over $1 billion in two years. However, the Hawthorne segment faced a decline in sales due to strategic exits and restructuring charges impacted the overall financials.
Scotts Miracle-Gro has strategically positioned itself for future growth with its three-year plan, focusing on enhancing core strengths and investing in marketing and innovation. Looking ahead to fiscal 2025, the company aims for further gross margin recovery and substantial growth in adjusted EBITDA, reflecting confidence in achieving its long-term targets.
