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Scotts Miracle-Gro Boosts FY20 Outlook, Dividend; Shares Up 10% - Quick Facts

(RTTNews) - While reporting financial results for the third quarter on Wednesday, Scotts Miracle-Gro Co. (SMG) raised its adjusted earnings and sales growth guidance for the full-year 2020. The company's shares are up 10 percent in prer-market trading.

For fiscal 2020, the company now projects adjusted earnings in a range of $6.65 to $6.85 per share on company-wide sales growth of 26 to 28 percent.

Previously, the company expected adjusted earnings in a range of $5.65 to $5.85 per share.

On average, analysts polled by Thomson Reuters expect the company to report earnings of $5.79 per share on sales growth of 16.0 percent to $3.66 billion for the year. Analysts' estimates typically exclude special items.

Additionally, Scotts Miracle-Gro said its Board of Directors approved payment of a special dividend of $5 per share and increased its regular quarterly dividend by 7 percent to $0.62 per share, both payable September 10 to shareholders of record on August 27.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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