The Scotts Miracle Gro Co Class A

SMG: XNYS (USA)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
	$91.00	Cbkllt	Mmsc

Scotts Miracle-Gro Earnings: US Consumer Volume Growth Points to Upcoming Profit Recovery

Seth Goldstein

May 1, 2024

Scotts Miracle-Gro reported stable fiscal second-quarter results as companywide adjusted EBITDA was down 2% versus the prior-year quarter, and there was a 28% sales decline in the Hawthorne business. The results were in line with our outlook for the cadence of the year. Having updated our model to incorporate fiscal second-quarter earnings, we maintain our $95 per share fair value estimate. Our narrow-moat rating is also unchanged.

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