While posting strong second-quarter results, Marysville, Ohio-based Scotts Miracle-Gro is hoping for more cooperative weather.
Scotts posted net sales of $1.13 billion for the quarter ended April 2, up 8% from the same quarter last year. Net income increased 50% to $177.6 million.
For the quarter, company-wide adjusted gross margin rate increased 41.1% compared with 39.6% a year earlier. The improvement was due to the benefit of lower commodity costs, as well as supply chain efficiencies and a favorable product mix.