Quarterly ResultApr 29, 2026, 08:02 AM
SMG Q2 Net Sales +5% to $1.46B; EPS $4.46; Gross Margin 41.8%
AI Summary
Scotts Miracle-Gro reported strong second-quarter fiscal 2026 results, with net sales increasing 5% to $1.46 billion and diluted EPS from continuing operations rising 18% to $4.46. The company achieved a significant gross margin rate improvement of 280 basis points to 41.8% and reduced its net leverage to 3.71x. Management reaffirmed its fiscal 2026 guidance, citing continued strong sales and positive momentum in April.
Key Highlights
- Net sales increased 5% to $1.46 billion for Q2 2026.
- GAAP diluted EPS from continuing operations rose 18% to $4.46.
- Gross margin rate improved by 280 basis points to 41.8%.
- Non-GAAP adjusted EBITDA increased 9% to $437.4 million.
- Net leverage improved to 3.71x from 4.41x in the prior year.
- U.S. Consumer net sales grew 5% to $1.377 billion in Q2.
- Reaffirmed fiscal 2026 guidance for U.S. Consumer net sales low single-digit growth.
- Reaffirmed fiscal 2026 guidance for non-GAAP adjusted EPS of $4.15 to $4.35.
Price Impact
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