Scotts Miracle-Gro Boosts FY20 Sales Growth Outlook - Quick Facts

(RTTNews) - While reporting financial results for the second quarter on Wednesday, Scotts Miracle-Gro Co. (SMG) maintained its adjusted earnings guidance for the full-year 2020, while raising sales growth outlook.

For fiscal 2020, the company continues to project adjusted earnings in a range of $4.95 to $5.15 per share, a growth in a range 11 to 15 percent.

However, the company raised its company-wide sales growth outlook to 6 to 8 percent from the prior forecast for a 4 to 6 percent growth.

On average, analysts polled by Thomson Reuters expect the company to report earnings of $5.26 per share on sales growth of 6.0 percent to $3.35 billion for the year. Analysts' estimates typically exclude special items.

The Company now expects for Hawthorne sales to increase 30 to 35 percent for fiscal 2020 and it re-affirmed a sales outlook for the U.S. Consumer segment of 1 to 3 percent growth.

The company said the strong start in both the U.S. Consumer and Hawthorne segments increases the possibility that full-year adjusted earnings could exceed its original forecast.