Marysville, Ohio — ScottsMiracle-Gro reported a 26 percent increase in net income, to $125.7 million ($2.00 per diluted share) on sales of $1.08 billion for the second quarter ending March 29, 2014, compared to the year-ago $100 million ($1.62 per share) on sales of $1 billion. Scotts said strong retailer support, pricing adjustments, and the acquisition of the Tomcat rodenticide business drove a 9 percent increase in its Global Consumer sales, to $1.05 billion from the year-ago $962.8 million. Scotts LawnService sales dropped 12 percent to $28.9 million from $32.9 million, primarily due to a late spring season. Six-month net income was $60 million ($0.95 per share) on sales of $1.27 billion, up from the year-ago $32.3 million ($0.51 per share) on sales of $1.2 billion. While Scotts said point-of-sale data through April points to consumer purchases being down, that this is mainly due to the weather and the delayed start to the season. Scotts continues to project full-year adjusted EPS of $3.05-$3.20.
Transparency Across the Fertilizer Value-Chain