Stock Track | Scotts Miracle-Gro Plunges in Pre-Market After Missing Q4 Earnings Estimates

Stock Track11-06

Shares of Scotts Miracle-Gro Company (NYSE: SMG) plunged in pre-market trading on Monday after the lawn and garden products company reported weaker-than-expected financial results for the fourth quarter and full fiscal year 2024.

The company posted an adjusted net loss of $2.31 per share for the fourth quarter, missing Wall Street's expectations of a loss of $1.97 per share. Total sales for the quarter grew 11% year-over-year to $414.7 million, beating analyst estimates of $399.8 million. However, the company's gross margin was deeply negative at -7.1%.

The disappointing results were primarily driven by Scotts Miracle-Gro's Hawthorne segment, which caters to the cannabis industry. This segment saw a 46% decline in sales to $80.5 million, mainly due to the company's exit from the distribution of third-party brands and a decline in sales from its professional horticultural lighting business.

For the full fiscal year 2024, Scotts Miracle-Gro reported a net loss of $34.9 million, or $0.61 per share, compared to a loss of $380.1 million, or $6.79 per share, in the prior year. On an adjusted basis, the company earned $2.29 per share, including one-time charges of $0.35 per share.

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap

Leave a comment

{"i18n":{"language":"en_US"},"isChannel":false,"data":{"share":"https://ttm.financial/m/news/1193917162?lang=en_US&edition=fundamental","thumbnail":"","is_english":true,"pubTime":"2024-11-06 22:24","share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","id":"1193917162","market":"us","top_or_hot":-1,"title":"Stock Track | Scotts Miracle-Gro Plunges in Pre-Market After Missing Q4 Earnings Estimates","media":"Stock Track","content":"<p>Shares of Scotts Miracle-Gro Company (NYSE: SMG) plunged in pre-market trading on Monday after the lawn and garden products company reported weaker-than-expected financial results for the fourth quarter and full fiscal year 2024.</p>\n\n<p>The company posted an adjusted net loss of $2.31 per share for the fourth quarter, missing Wall Street's expectations of a loss of $1.97 per share. Total sales for the quarter grew 11% year-over-year to $414.7 million, beating analyst estimates of $399.8 million. However, the company's gross margin was deeply negative at -7.1%.</p>\n\n<p>The disappointing results were primarily driven by Scotts Miracle-Gro's Hawthorne segment, which caters to the cannabis industry. This segment saw a 46% decline in sales to $80.5 million, mainly due to the company's exit from the distribution of third-party brands and a decline in sales from its professional horticultural lighting business.</p>\n\n<p>For the full fiscal year 2024, Scotts Miracle-Gro reported a net loss of $34.9 million, or $0.61 per share, compared to a loss of $380.1 million, or $6.79 per share, in the prior year. On an adjusted basis, the company earned $2.29 per share, including one-time charges of $0.35 per share.</p>","source":"ai_movement_en","html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Stock Track | Scotts Miracle-Gro Plunges in Pre-Market After Missing Q4 Earnings Estimates</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nStock Track | Scotts Miracle-Gro Plunges in Pre-Market After Missing Q4 Earnings Estimates\n</h2>\n\n<h4 class=\"meta\">\n\n2024-11-06 22:24 北京时间&nbsp;&nbsp;&nbsp;<strong>Stock Track</strong>\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Shares of Scotts Miracle-Gro Company (NYSE: SMG) plunged in pre-market trading on Monday after the lawn and garden products company reported weaker-than-expected financial results for the fourth ...</p>\n\n<a href=\"\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"SMG","symbol_name":"Scotts Miracle-Gro Company","start_time":0,"source_url":"","article_id":"1193917162","we_media_id":"1086803395","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=1193917162","pubTimestamp":1730903079,"sourceInfo":{"source_id":"ai_movement_en","name":"Stock Track"},"weMediaInfo":{"media_name":"Stock Track","introduction":"Track stock‘s movements and relevant news","home_visible":1,"id":"1086803395","head_image":"https://static.tigerbbs.com/a81accab1e7ee4144dc051f71903a390"},"summary":"Shares of Scotts Miracle-Gro Company  plunged in pre-market trading on Monday after the lawn and garden products company reported weaker-than-expected financial results for the fourth quarter and full fiscal year 2024.The company posted an adjusted net loss of $2.31 per share for the fourth quarter, missing Wall Street's expectations of a loss of $1.97 per share. Total sales for the quarter grew 11% year-over-year to $414.7 million, beating analyst estimates of $399.8 million. However, the compa","collect":0,"end_time":0,"defaultTopTitle":"","property":[],"viewcount":null,"language":"en","relate_stocks":{"SMG":"Scotts Miracle-Gro Company"},"translate_title":"Scotts Miracle-Gro在未达到第四季度盈利预期后盘前暴跌","themeId":"","isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"SMG":1},"content_text":"Shares of Scotts Miracle-Gro Company (NYSE: SMG) plunged in pre-market trading on Monday after the lawn and garden products company reported weaker-than-expected financial results for the fourth quarter and full fiscal year 2024.\nThe company posted an adjusted net loss of $2.31 per share for the fourth quarter, missing Wall Street's expectations of a loss of $1.97 per share. Total sales for the quarter grew 11% year-over-year to $414.7 million, beating analyst estimates of $399.8 million. However, the company's gross margin was deeply negative at -7.1%.\nThe disappointing results were primarily driven by Scotts Miracle-Gro's Hawthorne segment, which caters to the cannabis industry. This segment saw a 46% decline in sales to $80.5 million, mainly due to the company's exit from the distribution of third-party brands and a decline in sales from its professional horticultural lighting business.\nFor the full fiscal year 2024, Scotts Miracle-Gro reported a net loss of $34.9 million, or $0.61 per share, compared to a loss of $380.1 million, or $6.79 per share, in the prior year. On an adjusted basis, the company earned $2.29 per share, including one-time charges of $0.35 per share.","kind":null,"is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"-1","news_tag":"movement","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.29.1","shortVersion":"4.29.1","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/1193917162"}