The Scotts Miracle-Gro Co. Q1 Loss Increases, but beats estimates

(RTTNews) - The Scotts Miracle-Gro Co. (SMG) revealed Loss for its first quarter that increased from last year but beat the Street estimates.

The company's bottom line totaled -$80.5 million, or -$1.42 per share. This compares with -$64.7 million, or -$1.17 per share, in last year's first quarter.

Excluding items, The Scotts Miracle-Gro Co. reported adjusted earnings of -$82.2 million or -$1.45 per share for the period.

Analysts on average had expected the company to earn -$1.53 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter fell 22.1% to $410.4 million from $526.6 million last year.

The Scotts Miracle-Gro Co. earnings at a glance (GAAP) :

-Earnings (Q1): -$80.5 Mln. vs. -$64.7 Mln. last year. -EPS (Q1): -$1.42 vs. -$1.17 last year. -Analyst Estimate: -$1.53 -Revenue (Q1): $410.4 Mln vs. $526.6 Mln last year.