Scotts Miracle-Gro posted fiscal Q3 net sales of $1.17 billion, up 1% year over year.
GAAP diluted EPS from continuing operations fell 34% to $1.75, hit by impairment, restructuring and other non-recurring items.
Non-GAAP adjusted diluted EPS from continuing operations rose 8% to $2.82, helped by Bonnie Plants JV performance and a lower tax rate.
GAAP gross margin narrowed 0.9 percentage points to 31.2% on higher freight and commodity costs tied to the Iran conflict.
The company raised its full-year non-GAAP adjusted diluted EPS outlook to $4.30-$4.45, reaffirming free cash flow of $275 million and U.S. Consumer low single-digit net sales growth.
SMG•
