Earnings Call Summary | The Scotts Miracle(SMG.US) Q2 2024 Earnings Conference
Earnings Call Summary | The Scotts Miracle(SMG.US) Q2 2024 Earnings Conference
The following is a summary of the The Scotts Miracle-Gro Company (SMG) Q2 2024 Earnings Call Transcript:
以下是 Scotts Miracle-Gro Company（SMG）2024年第二季度财报电话会议记录摘要：
Financial Performance:
财务业绩：
Scotts Miracle-Gro reported high single-digit growth in its consumer business and anticipates reaching $575M in adjusted EBITDA this year.
Free cash flow improved by over $500M in comparison to the previous year, exceeding half-year target by $200M.
Company's debt levels were reduced by $750M, with total leverage for Q2 reported at 6.95x EBITDA, projected to fall within a 4x range by fiscal year-end.
Consumer business net sales grew by 2% YoY, however, Hawthorne saw a segment loss of $3M for Q2, improving from the $17M loss a year ago.
Scotts Miracle-Gro's year-to-date interest expense through March was $4 million lower than the same period last year, a 5% reduction driven by significantly lower debt levels.
Scotts Miracle-Gro报告称，其消费业务实现了个位数的高速增长，预计今年调整后的息税折旧摊销前利润将达到5.75亿美元。
与去年相比，自由现金流增加了5亿美元以上，比半年目标高出2亿美元。
该公司的债务水平减少了7.5亿美元，第二季度的总杠杆率为息税折旧摊销前利润的6.95倍，预计到财年末将降至4倍范围内。
消费业务净销售额同比增长2％，但是，霍桑第二季度分部亏损300万美元，较去年同期的1700万美元亏损有所改善。
截至3月，Scotts Miracle-Gro的年初至今利息支出比去年同期减少了400万美元，在债务水平大幅降低的推动下，下降了5％。
Business Progress:
业务进展：
Through restructuring measures, Hawthorne has isolated its operations to 2 distribution centers and under 300 employees from previously 15 centers and 1,000 employees.
They aim to reach breakeven or better for the full year and focus on marketing its profitable, exclusive, and owned brands in the future.
A strategic partnership with BFG Supply aims to service smaller retail customers and reduce Hawthorne's cost structure.
Scotts Miracle-Gro made a strategic investment in RIV Capital, a NY cultivator and retail operator in the cannabis space.
The firm reported $65M savings in 2024 from 'Project Springboard' and expects to benefit an additional $20M in EBITDA next year.
The company is confident about upcoming promotional activities, especially around soils with attractive margins, and plans to update their 2024 guidance at the William Blair's 44th Annual Growth Stock Conference based on May's Point of Sale (POS) performance.
通过重组措施，霍桑已将其业务隔离到2个配送中心，将员工从以前的15个中心和1,000名员工中分离到300名以下。
他们的目标是实现全年盈亏平衡或更好的盈亏平衡，并在未来专注于营销其盈利、独家和自有品牌。
与BFG Supply的战略合作伙伴关系旨在为小型零售客户提供服务并降低霍桑的成本结构。
Scotts Miracle-Gro对纽约州大麻领域的种植商和零售运营商RIV Capital进行了战略投资。
该公司报告称，2024年通过 “跳板项目” 节省了6500万美元，预计明年将再增加2000万美元的息税折旧摊销前利润。
该公司对即将到来的促销活动充满信心，尤其是围绕利润率诱人的土壤的促销活动，并计划根据5月份的销售点（POS）表现，在威廉·布莱尔第44届年度成长股会议上更新其2024年的指导方针。
More details: The Scotts Miracle IR
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