The Scotts Miracle-Gro Company, a US-based marketer of branded consumer lawn and garden as well as indoor products, reported 105 per cent sales growth to $748.6 million in its first quarter (Q1) FY21 ended on January 2, 2021, compared to $365.8 million in the same period prior year. Net income for the quarter was $25.2 million (Q1 FY20: loss $71.3 million).
The Scotts Miracle-Gro Company, a US-based marketer of branded consumer lawn and garden as well as indoor products, reported 105 per cent sales growth to $748.6 million in its first quarter (Q1) FY21 ended on January 2, 2021, compared to $365.8 million in the same period prior year. Net income for the quarter was $25.2 million (Q1 FY20: loss $71.3 million).#
“While we anticipated a strong start to fiscal 2021, both the US Consumer and Hawthorne segments surpassed our expectations and put us on a good trajectory for the balance of the year,” Jim Hagedorn, chairman and chief executive officer at Scotts Miracle-Gro, said in a press release.
The Scotts Miracle-Gro Company, a US-based marketer of branded consumer lawn and garden as well as indoor products, reported 105 per cent sales growth to $748.6 million in its first quarter (Q1) FY21 ended on January 2, 2021, compared to $365.8 million in the same period prior year. Net income for the quarter was $25.2 million (Q1 FY20: loss $71.3 million).#
Gross profit for the quarter grew to $190.8 million ($54.2 million). Income from operations rose to $34.0 million (loss: $62.6 million).
The Scotts Miracle-Gro Company, a US-based marketer of branded consumer lawn and garden as well as indoor products, reported 105 per cent sales growth to $748.6 million in its first quarter (Q1) FY21 ended on January 2, 2021, compared to $365.8 million in the same period prior year. Net income for the quarter was $25.2 million (Q1 FY20: loss $71.3 million).#
US Consumer sales jumped 147 per cent during Q1 FY21 to $408.2 million ($165.5 million). Hawthorne sales were up 71 per cent to $309.4 million ($180.7 million).
The Scotts Miracle-Gro Company, a US-based marketer of branded consumer lawn and garden as well as indoor products, reported 105 per cent sales growth to $748.6 million in its first quarter (Q1) FY21 ended on January 2, 2021, compared to $365.8 million in the same period prior year. Net income for the quarter was $25.2 million (Q1 FY20: loss $71.3 million).#
“Our strong start gives us renewed confidence in our full-year outlook although we remain sensitive to the challenges in the second half of the fiscal year against historic comparisons. We now believe we have enough visibility, however, to raise our full-year sales growth outlook for Hawthorne to a range of 20 to 30 per cent, compared with our previous outlook of 15 to 20 per cent,” Hagedorn said.
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