Lawn and garden products maker Scotts Miracle-Gro reported a narrower-than-expected quarterly loss as more U.S. customers made pre-season purchases and raised its 2009 forecast expecting a boost from lower commodity costs.
The company said it expects 2009 earnings of about $2.10 a share to $2.30 a share on an adjusted basis, up from its prior outlook of about $2 a share.
Marysville, Ohio-based Scotts Miracle-Gro, whose brands include Ortho, Hyponex and Turf Builder, also expects higher sales of private-label categories and favorable interest rates to aid its 2009 results.
The company has been talking with several U.S. retailers to supply private-label products for fiscal 2009 after rival Spectrum Brands shut down its business that makes growing products such as fertilizer and mulch.
Latest from Lawn & Landscape
- LandCare promotes 2 in Southwest region
- Starting from scratch
- Riverview Landscapes acquires segments of Irrigation and Landscape Management's business
- Strata Landscape Services acquires Watersedge in San Diego
- 2025 State of the Industry webinar
- True to form
- Irrigation Association awards new products, startup of the year
- McFarlin Stanford taps Wallingford as CEO
