Stock Track | Scotts Miracle-Gro Plummets 5.19% Intraday on Q1 Revenue Miss, Widened Loss and Hawthorne Unit Sale
Stock Track
Jan 28
Scotts Miracle-Gro Company's stock plummeted 5.19% during intraday trading on Wednesday, following the release of its fiscal first-quarter results.
The lawn and garden products company reported quarterly sales of $354.4 million, which fell short of analyst estimates. Additionally, the company's net loss widened significantly to $125 million for the quarter, compared to a loss of $69.5 million in the same period last year.
Concurrently, Scotts Miracle-Gro announced a deal to sell its Hawthorne gardening subsidiary, a cannabis-supply unit, to Vireo Growth. The company stated this move reduces its exposure to the volatile marijuana sector. Despite the weak quarterly results, the company reaffirmed its fiscal 2026 earnings guidance.
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