The Scotts Miracle-Gro Co. Q2 Profit Increases, Beats Estimates

(RTTNews) - The Scotts Miracle-Gro Co. (SMG) announced a profit for its second quarter that increased from the same period last year and beat the Street estimates.

The company's bottom line totaled $217.5 million, or $3.72 per share. This compares with $157.5 million, or $2.74 per share, last year.

Excluding items, The Scotts Miracle-Gro Co. reported adjusted earnings of $232.2 million or $3.98 per share for the period.

Analysts on average had expected the company to earn $3.93 per share. Analysts' estimates typically exclude special items.

The company's revenue for the period fell 7.2% to $1.42 billion from $1.53 billion last year.

The Scotts Miracle-Gro Co. earnings at a glance (GAAP) :

-Earnings: $217.5 Mln. vs. $157.5 Mln. last year. -EPS: $3.72 vs. $2.74 last year. -Revenue: $1.42 Bln vs. $1.53 Bln last year.