By Dean Seal
Shares of Scotts Miracle-Gro hit a 52-week low after the company reported softer sales for its early-spring selling season.
The stock fell 15% to a low of $45.70 in the morning session. Shares haven't traded this low since the fall of 2023.
The maker of lawn-care products said before the opening bell Wednesday that sales fell 7% from a year ago to $1.42 billion. Analysts polled by FactSet had been expecting $1.49 billion.
Scotts said sales in its main U.S. consumer business were down 5% at $1.31 billion, missing analyst estimates for $1.37 billion. The shortfall was attributed to a colder and slower start to the lawn-and-garden season, which pushed some expected sales into the current quarter.
Write to Dean Seal at dean.seal@wsj.com
(END) Dow Jones Newswires
April 30, 2025 12:08 ET (16:08 GMT)
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