Consumer demand pushes up Scotts Miracle-Gro sales

The Scotts Miracle-Gro Company (Scotts) posted second quarter sales of $1.83 billion, up 32% from sales of $1.38 billion for the second quarter 2020.

The lawn and garden products giant reported that U.S. consumer segment sales increased 23% to $1.37 billion for the quarter as sales for its Hawthorne segment increased 66% to $363.8 million. 

The second quarter of the company’s fiscal calendar ended six days later than the second quarter 2020. The shift had a sales impact of approximately $122.5 million within the lawn and garden business.

Scotts also reported a net income of $310.2 million for its second quarter, rising 23% from a net income of $252.4 million for the same period a year ago.

Sales for the six months of 2021 jumped 47% to $2.58 billion with consumer segment sales rising 39% to $1.78 billion. Hawthorne sales increased 68% to $673.2 for the six-month period.

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The Bottom Line: U.S. consumer lawn and garden spending help drive Scotts sales upward by 32% as profits leap 23%.

What the CEO said:  “The record level of consumer demand we have seen for our lawn and garden products is greater than we expected and may provide upside to the updated guidance we provided for our U.S. Consumer business in early April,” said Jim Hagedorn, chairman and CEO of Scotts Miracle-Gro. “Consumers told us entering the season that they intended to stay engaged with lawn and garden and, so far, that is exactly what they are doing. Retailer support for the category remains strong as we enter a period of challenging year-over-year comparisons.”

Company info: The full second quarter 2021 financial report from Scotts Miracle-Gro is available here.