SCOTTS MIRACLE-GRO Reports Third Quarter Earnings for Fiscal Year 2023

August 13, 2023

🌥️Earnings Overview

SCOTTS MIRACLE-GRO ($NYSE:SMG) reported a total revenue decrease of 5.7% on June 30 2023 for the third quarter of the fiscal year 2023, with USD 1118.7 million earned compared to the same quarter in the previous year. Net income, however, rose by 109.8% to USD 43.7 million.

Stock Price

The stock opened at $60.0 and closed at $57.9, a decline of 19.0% from its previous closing price of $71.4. This sharp drop in share prices is attributed to the company’s lower than expected earnings. Analysts had predicted that SCOTTS MIRACLE-GRO would report higher growth due to increased demand for home and garden products during the pandemic.

The downturn in sales and net income for SCOTTS MIRACLE-GRO was mainly attributed to increased costs due to the rise in raw material prices, as well as higher labor costs due to supply chain disruptions due to the pandemic. Despite these challenges, SCOTTS MIRACLE-GRO remains committed to delivering long-term value for shareholders by continuing to invest in innovative products and opportunities for growth. Live Quote…

About the Company

  • Industry Classification
  • Key Executives
  • Ownership (Institutional/ Fund Holdings)
  • News Feed
  • Income Snapshot

    Below shows the total revenue, net income and net margin for Scotts Miracle-gro. More…

    Total Revenues Net Income Net Margin
    3.67k -131.7 -2.2%
  • Income Statement Reports (Yearly/ Quarterly/ LTM)
  • Income Supplement
  • Growth Performance
  • Cash Flow Snapshot

    Below shows the cash from operations, investing and financing for Scotts Miracle-gro. More…

    Operations Investing Financing
    546.3 6.7 -553.6
  • Cash Flow Statement (Yearly/ Quarterly/ LTM)
  • Cash Flow Supplement
  • Balance Sheet Snapshot

    Below shows the total assets, liabilities and book value per share for Scotts Miracle-gro. More…

    Total Assets Total Liabilities Book Value Per Share
    4.45k 4.32k 2.4
  • Balance Sheet (Yearly/ Quarterly)
  • Balance Sheet Supplement
  • Key Ratios Snapshot

    Some of the financial key ratios for Scotts Miracle-gro are shown below. More…

    3Y Rev Growth 3Y Operating Profit Growth Operating Margin
    -0.6% -46.1% 0.2%
    FCF Margin ROE ROA
    12.5% 4.0% 0.1%
  • Income Statement Ratios
  • Balance Sheet Ratios
  • Cash Flow Ratios
  • Valuation Ratios
  • Other Ratios
  • Other Supplementary Items
  • Analysis

    At GoodWhale, we recently conducted an analysis of SCOTTS MIRACLE-GRO‘s wellbeing. The risk rating of the company is high, making it a risky investment in terms of both financial and business aspects. Upon further inspection, we detected two risk warnings in the company’s income sheet and balance sheet. If you’re interested in learning more about the investment risk of SCOTTS MIRACLE-GRO, please register on today and explore our results. You’ll gain valuable insights into the company’s financial standing and be able to make more informed investment decisions. More…

  • Risk Rating Analysis
  • Star Chart Analysis
  • Valuation Analysis

  • Peers

    The Scotts Miracle Gro Co. is a leading manufacturer and marketer of consumer products for do-it-yourself lawn and garden care. The company’s products are sold under the brand names Scotts, Miracle-Gro and Ortho. Nutrien Ltd., Potash America Inc., and CF Industries Holdings Inc. are all major competitors in the lawn and garden care industry.

    – Nutrien Ltd ($TSX:NTR)

    Nutrien Ltd. is a Canadian retail and wholesale fertilizer company with operations in North and South America, Australia, and Asia. The company is the largest provider of crop inputs and services in the world. Nutrien Ltd. has a market cap of 58.31B as of 2022, a Return on Equity of 23.76%. The company’s retail operations include more than 1,700 retail locations across North America, South America, and Australia. The company’s wholesale operations include a network of distribution facilities in North America, South America, Asia, and Australia. Nutrien Ltd. also has a joint venture with Sinochem Group, one of the largest chemical companies in China.

    – Potash America Inc ($OTCPK:PTAM)

    Potash America Inc is a fertilizer company that produces and sells potash, a key ingredient in many fertilizers. The company has a market cap of 297.25k as of 2022 and a return on equity of 144.09%. Potash America Inc is a publicly traded company on the OTC markets.

    – CF Industries Holdings Inc ($NYSE:CF)

    CF Industries Holdings, Inc., through its subsidiaries, engages in the manufacture and distribution of nitrogen fertilizers, and other nitrogen products in North America. It operates through Ammonia, Granular Urea, UAN, AN, Other, and Phosphates segments. The company offers ammonia, granular urea, urea ammonium nitrate, and nitric acid products. It also produces phosphate-based fertilizers, including diammonium phosphate, monoammonium phosphate, and nitrogen phosphates. The company sells its products directly to retailers, farmers, and cooperatives, as well as through dealers and distributors. CF Industries Holdings, Inc. was incorporated in 1946 and is headquartered in Deerfield, Illinois.


    SCOTTS MIRACLE-GRO released its third quarter earnings report for 2023 on June 30, with total revenue falling 5.7% to USD 1118.7 million. Net income, however, increased by 109.8% to USD 43.7 million. In response to the news, the stock price dropped. For investors, this could be an opportunity to purchase stock at a lower price, although it is important to consider the overall performance of the company and the potential for future growth when making an investment decision.

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