Scotts Miracle-Gro Files 10-Q for Q1 2025
Ticker: SMG · Form: 10-Q · Filed: Feb 5, 2025 · CIK: 825542
| Field | Detail |
|---|---|
| Company | Scotts Miracle-Gro CO (SMG) |
| Form Type | 10-Q |
| Filed Date | Feb 5, 2025 |
| Risk Level | medium |
| Pages | 15 |
| Reading Time | 18 min |
| Key Dollar Amounts | $0.01 |
| Sentiment | neutral |
Sentiment: neutral
Topics: 10-Q, financials, agriculture
TL;DR
SMG 10-Q filed: Financials for Q1 2025 out. Check for sales trends.
AI Summary
The Scotts Miracle-Gro Company filed a 10-Q for the period ending December 28, 2024. The filing details financial performance and operational updates for the company, which is involved in agriculture chemicals. Specific financial figures and operational highlights are presented within the report.
Why It Matters
This filing provides investors and analysts with the latest financial health and operational performance of Scotts Miracle-Gro, a key player in the consumer lawn and garden market.
Risk Assessment
Risk Level: medium — As a publicly traded company, Scotts Miracle-Gro is subject to market fluctuations, consumer spending trends, and agricultural industry risks.
Key Numbers
- 20241228 — Reporting Period End Date (Indicates the end of the fiscal quarter for which financial data is reported.)
- 20250205 — Filing Date (The date the 10-Q report was officially submitted to the SEC.)
Key Players & Entities
- SCOTTS MIRACLE-GRO CO (company) — Filer of the 10-Q
- 20241228 (date) — End of the reporting period
- 20250205 (date) — Filing date
- OH (location) — State of incorporation
- 001-11593 (other) — SEC file number
FAQ
What were the key financial highlights for the quarter ending December 28, 2024?
The filing indicates the reporting period ended December 28, 2024, and includes financial data for this period, but specific dollar amounts for revenue, profit, or expenses are not detailed in the provided header information.
What is the company's primary industry classification?
The company is classified under AGRICULTURE CHEMICALS [2870].
When was the company incorporated?
The company was incorporated in Ohio (OH).
What is the SEC file number for The Scotts Miracle-Gro Company?
The SEC file number is 001-11593.
What is the fiscal year end for The Scotts Miracle-Gro Company?
The fiscal year end is September 30 (0930).
Filing Stats: 4,532 words · 18 min read · ~15 pages · Grade level 9.7 · Accepted 2025-02-05 16:12:24
Key Financial Figures
- $0.01 — nge on which registered Common Shares, $0.01 stated value SMG NYSE Indicate by che
Filing Documents
- smg-20241228.htm (10-Q) — 1442KB
- exhibit102smg20241228.htm (EX-10.2) — 52KB
- exhibit311smg20241228.htm (EX-31.1) — 12KB
- exhibit312smg20241228.htm (EX-31.2) — 12KB
- exhibit32smg20241228.htm (EX-32) — 10KB
- smg-20241228_g1a.jpg (GRAPHIC) — 63KB
- 0001546380-25-000006.txt ( ) — 9510KB
- smg-20241228.xsd (EX-101.SCH) — 63KB
- smg-20241228_cal.xml (EX-101.CAL) — 71KB
- smg-20241228_def.xml (EX-101.DEF) — 352KB
- smg-20241228_lab.xml (EX-101.LAB) — 778KB
- smg-20241228_pre.xml (EX-101.PRE) — 585KB
- smg-20241228_htm.xml (XML) — 1679KB
FINANCIAL INFORMATION
PART I. FINANCIAL INFORMATION: Item 1.
Financial Statements (Unaudited)
Financial Statements (Unaudited) Condensed Consolidated Statements of Operations — Three months ended December 28 , 202 4 and December 3 0 , 2 023 3 Condensed Consolidated Statements of Comprehensive Income ( Loss ) — Three months ended December 28, 2024 and December 30, 2023 4 Condensed Consolidated Statements of Cash Flows — Three months ended December 28, 2024 and December 30, 2023 5 Condensed Consolidated Balance Sheets — December 28 , 202 4 , December 3 0 , 202 3 and September 30, 20 24 6 Notes to Condensed Consolidated Financial Statements 7 Item 2.
Management's Discussion and Analysis of Financial Condition and Results of Operations
Management's Discussion and Analysis of Financial Condition and Results of Operations 27 Item 3.
Quantitative and Qualitative Disclosures about Market Risk
Quantitative and Qualitative Disclosures about Market Risk 40 Item 4.
Controls and Procedures
Controls and Procedures 40
OTHER INFORMATION
PART II. OTHER INFORMATION: Item 1.
Legal Proceedings
Legal Proceedings 40 Item 1A.
Risk Factors
Risk Factors 40 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 42 Item 3. Defaults Upon Senior Securities 42 Item 4. Mine Safety Disclosures 42 Item 5. Other Information 42 Item 6. Exhibits 42 Index to Exhibits 43
Signatures
Signatures 44 2 Table of Contents
—FINANCIAL INFORMATION
PART I—FINANCIAL INFORMATION
FINANCIAL STATEMENTS
ITEM 1. FINANCIAL STATEMENTS THE SCOTTS MIRACLE-GRO COMPANY Condensed Consolidated Statements of Operations (In millions, except per share data) (Unaudited) Three Months Ended December 28, 2024 December 30, 2023 Net sales $ 416.8 $ 410.4 Cost of sales 316.9 354.0 Cost of sales—impairment, restructuring and other 5.1 ( 5.8 ) Gross margin 94.8 62.2 Operating expenses: Selling, general and administrative 124.8 114.8 Impairment, restructuring and other 16.5 ( 7.1 ) Other expense, net 4.5 1.8 Loss from operations ( 51.0 ) ( 47.3 ) Equity in loss of unconsolidated affiliates 9.9 22.5 Interest expense 33.7 42.8 Other non-operating expense, net 1.3 1.6 Loss before income taxes ( 95.9 ) ( 114.2 ) Income tax benefit ( 26.4 ) ( 33.7 ) Net loss $ ( 69.5 ) $ ( 80.5 ) Basic net loss per common share: $ ( 1.21 ) $ ( 1.42 ) Diluted net loss per common share: $ ( 1.21 ) $ ( 1.42 ) Weighted-average common shares outstanding during the period 57.3 56.7 Weighted-average common shares outstanding during the period plus dilutive potential common shares 57.3 56.7 See Notes to Condensed Consolidated Financial Statements. 3 Contents THE SCOTTS MIRACLE-GRO COMPANY Condensed Consolidated Statements of Comprehensive Income (Loss) (In millions) (Unaudited) Three Months Ended December 28, 2024 December 30, 2023 Net loss $ ( 69.5 ) $ ( 80.5 ) Other comprehensive income (loss): Net foreign currency translation adjustment ( 5.8 ) 3.1 Net unrealized gain (loss) on derivative instruments, net of tax 5.7 ( 8.2 ) Reclassification of net unrealized gain on derivative instruments to net loss, net of tax ( 1.7 ) ( 1.5 ) Net unrealized loss on securities, net of tax — ( 0.9 ) Pension and other post-retirement benefit adjustments, net of tax 4.3 ( 1.4 ) Total other comprehensive income (loss) 2.5 ( 8.9 ) Comprehensive loss $ ( 67.0 ) $ ( 89.4 ) See Notes to Condensed Consolidated Financial Statements. 4 Contents THE SCOTTS MIRACLE-GRO COMPANY