Scotts Miracle-Gro Reaffirms FY14 Earnings Outlook

(RTTNews) - Lawn-care products maker Scotts Miracle-Gro Company (SMG), Wednesday reaffirmed its adjusted earnings outlook for the full year 2014, which is indicated miss analysts' current estimates. However, the company said it expects full-year sales to be in line with 2013.

The Marysville, Ohio-based company reaffirmed its adjusted earnings outlook of $3.05 to $3.20. Analysts polled by Thomson Reuters currently estimate earnings of $3.22 per share for 2014. Analysts estimates typically exclude one-time items.

"Consumer engagement in May and June was robust across our Global Consumer segment, giving us continued confidence in the strength of the lawn and garden category and our brands," said president and chief operating officer Barry Sanders. "However, due to the delayed start of the spring season, we now expect company-wide sales to be in line with fiscal 2013."

Earlier, the company expected company-wide net sales to increase by about 2 to 3 percent in fiscal 2014. Analysts currently estimated sales growth of 1.30 percent for the year.