NYSE$SMG
Scotts Miracle-Gro Company · Q4 2022 earnings
Q4 2022 earnings · · Investor relations
Briefing
ScottsMiracle-Gro's Q4 2022 sales and earnings aligned with expectations, with Project Springboard achieving $100 million in annualized cost savings and a new phase targeting an additional $85 million in savings was launched.
ScottsMiracle-Gro announced Q4 2022 results with sales declining by 33 percent, driven by decreases in both major business segments. The company reported a GAAP loss of $3.97 per share and a non-GAAP adjusted loss of $2.04 per share. Project Springboard achieved $100 million in annualized cost savings, and Project Springboard 2.0 was launched to target an additional $85 million in cost reductions.
- Consolidated sales and earnings results were consistent with expectations despite a challenging finish to fiscal 2022.
- The company remained within its leverage covenants and established a path to return to acceptable profitability levels.
- Prioritizing more profitable product mixes and front-loading marketing and promotional activities to drive early consumer traffic.
- Decisive actions are being taken across the organization to manage leverage and create stronger conditions for long-term success.
Headline financials
Revenue & EPS history
Scotts · Revenue · Quarterly
$494M
Revenue by segment
Scotts · $325M total across 2 segments · Q4 2022
- U.S. Consumer$302M-18.2%92.9%
- Other$23M-41.5%7.1%
Forward guidance
The Company provided direction for fiscal 2023 that includes low single-digit percentage growth in adjusted operating income versus fiscal 2022, mid-single digit percentage growth in adjusted EBITDA versus fiscal 2022, interest expense increase of $35 million to $40 million, effective tax rate of 25 percent to 26 percent, and free cash flow of $1 billion over the next two years.
Tailwinds
- Low single-digit percentage growth in adjusted operating income versus fiscal 2022
- Mid-single digit percentage growth in adjusted EBITDA versus fiscal 2022
- Free cash flow of $1 billion over the next two years
Headwinds
- Interest expense increase of $35 million to $40 million
- Effective tax rate of 25 percent to 26 percent
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 20 quarterly earnings reports · overlaid with Q4 2022
+0.7%
Avg return
Earnings day
+1.5%
Avg return
5 days after
-0.7%
Avg return
30 days after
60%
41 / 68 earnings
Positive
+18.2%
Q4 2023
Best reaction
-21.9%
Q4 2024
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q2 2026 | -4.6% | -9.2% | -9.8% | |
| Q1 2026 | -0.6% | -0.1% | -10.8% | |
| Q4 2025 | +2.8% | +4.6% | -1.2% | |
| Q2 2025 | -5.9% | +4.9% | +11.2% | |
| Q1 2025 | -5.8% | -8.5% | -22.7% | |
| Q4 2024 | -21.9% | -20.4% | -19.3% | |
| Q3 2024 | +7.1% | +0.7% | +1.1% | |
| Q2 2024 | +0.2% | +4.2% | +1.7% | |
| Q1 2024 | +4.6% | +5.0% | +23.4% | |
| Q4 2023 | +18.2% | +19.3% | +30.9% | |
| Q3 2023 | -21.1% | -23.2% | -23.0% | |
| Q2 2023 | -7.6% | +4.7% | -3.7% | |
| Q1 2023 | +16.2% | +12.3% | +18.1% | |
| Q4 2022 | +8.9% | +11.5% | +20.3% | |
| Q3 2022 | -8.2% | -5.3% | -30.0% | |
| Q2 2022 | +9.9% | -1.3% | -8.9% | |
| Q1 2022 | -6.6% | -12.1% | -8.0% | |
| Q4 2021 | +11.5% | +13.6% | -8.9% | |
| Q3 2021 | -8.2% | -7.9% | -9.7% | |
| Q2 2021 | +5.5% | +6.1% | -11.7% | |
| Q1 2021 | +3.6% | +4.8% | -12.0% | |
| Q4 2020 | +8.3% | -1.5% | +10.0% | |
| Q3 2020 | +8.1% | +8.7% | +15.4% | |
| Q2 2020 | +4.3% | +5.7% | +3.2% | |
| Q1 2020 | +10.5% | +13.3% | -3.0% | |
| Q4 2019 | +4.8% | +9.2% | +5.2% | |
| Q3 2019 | +5.5% | +5.0% | +2.9% | |
| Q2 2019 | +6.8% | +9.3% | +5.3% | |
| Q1 2019 | +6.3% | +8.3% | +17.0% | |
| Q4 2018 | +10.3% | +8.4% | -1.9% | |
| Q3 2018 | -1.0% | +1.7% | -4.0% | |
| Q2 2018 | -7.3% | -2.5% | +1.9% | |
| Q1 2018 | -15.8% | -15.6% | -15.9% | |
| Q4 2017 | -0.2% | -0.5% | +2.3% | |
| Q3 2017 | -0.3% | +1.0% | -0.4% | |
| Q2 2017 | -8.5% | -7.2% | -9.4% | |
| Q1 2017 | -2.2% | -3.1% | -1.9% | |
| Q4 2016 | +0.5% | +2.6% | +4.8% | |
| Q3 2016 | +7.7% | +12.0% | +12.8% | |
| Q2 2016 | -3.8% | — | — | |
| Q1 2016 | -3.9% | — | — | |
| Q4 2015 | +1.4% | — | — | |
| Q3 2015 | +8.6% | — | — | |
| Q2 2015 | +2.0% | — | — | |
| Q1 2015 | +2.1% | — | — | |
| Q4 2014 | +0.6% | — | — | |
| Q3 2014 | +4.6% | — | — | |
| Q2 2014 | -0.9% | — | — | |
| Q1 2014 | -0.4% | — | — | |
| Q4 2013 | -0.5% | — | — | |
| Q3 2013 | +0.5% | — | — | |
| Q2 2013 | +5.7% | — | — | |
| Q1 2013 | +0.1% | — | — | |
| Q4 2012 | -4.8% | — | — | |
| Q3 2012 | +4.1% | — | — | |
| Q2 2012 | -16.2% | — | — | |
| Q1 2012 | +4.9% | — | — | |
| Q4 2011 | -1.6% | — | — | |
| Q3 2011 | +0.8% | — | — | |
| Q2 2011 | -0.8% | — | — | |
| Q1 2010 | +0.0% | — | — | |
| Q1 2011 | +0.0% | — | — | |
| Q4 2010 | +1.0% | — | — | |
| Q4 2008 | +1.0% | — | — | |
| Q2 2010 | +1.0% | — | — | |
| Q3 2009 | +1.3% | — | — | |
| Q3 2010 | +1.3% | — | — | |
| Q4 2009 | +1.3% | — | — |
Discussion
Share your read of this quarter. Sign-in carries your eToro identity.
Join the conversation
Sign in with eToro to post your read of this quarter and vote on others'.
Sign in with eToro