Quarterly ResultMay 6, 2026, 04:15 PM
Scotts Miracle-Gro Q2 Net Income $238.6M; Divests Hawthorne Business
AI Summary
Scotts Miracle-Gro reported increased net income for the three months ended March 28, 2026, reaching $238.6 million, up from $217.5 million year-over-year. Net sales also rose to $1,459.5 million. However, for the six-month period, net income decreased to $113.6 million from $148.0 million, primarily due to significant losses from discontinued operations. The company completed the divestiture of its Hawthorne business in North America and the Netherlands, classifying it as a discontinued operation, which resulted in substantial valuation adjustments.
Key Highlights
- Completed divestiture of Hawthorne business in North America and the Netherlands.
- Q2 Net income increased to $238.6M from $217.5M YoY.
- Q2 Net sales rose to $1,459.5M from $1,389.7M YoY.
- Six-month net income decreased to $113.6M from $148.0M YoY.
- Six-month loss from discontinued operations, net of tax, was $(102.0)M.
- Net cash used in operating activities improved to $(150.4)M from $(257.2)M.
- Current portion of debt increased to $279.4M from $54.6M YoY.