Marysville, Ohio-based Scotts Miracle-Gro said Wednesday morning that its first quarter will see a bigger-than-expected loss, but it is maintaining its outlook for the full year.
Sales for the first quarter ending Dec. 31 are expected to decline about $30 million from the same quarter a year ago. The adjusted net loss in the quarter is expected to range from $70 million to $75 million, compared with a net loss of $65.6 million in the prior year.
The $1.20-to-$1.25 per share loss is greater than the $1.13 per share loss expected by Wall Street.