Scotts Miracle-Gro Down 15% After Missing Q2 Revenue Estimates

Scotts Miracle-Gro SMG is trading lower on the session following its Q2 earnings announcement this morning. The company reported an EPS of $2.15 vs $2.06 estimates Revenues $1.17B vs $1.2B Est. Jim Hagedorn, chairman and chief executive officer stated: "We are well positioned as we conclude the peak weeks of the lawn fertilizer season and move into the peak of gardening activity. We have seen strong consumer engagement across the U.S. whenever the weather has cooperated as evidenced by the 20 percent increase in consumer purchases for the second quarter. Entering May, consumer purchases are up 8 percent, an outstanding result with growth and market share gains in nearly every category and region. Scotts Miracle-Gro is currently trading at $46.67, a loss of $8.33 or 15.15%.