Scotts Miracle-Gro Company (SMG)
Pretax margin
| Dec 31, 2023 | Sep 30, 2023 | Jun 30, 2023 | Mar 31, 2023 | Dec 31, 2022 | Sep 30, 2022 | Jun 30, 2022 | Mar 31, 2022 | Dec 31, 2021 | Sep 30, 2021 | Jun 30, 2021 | Mar 31, 2021 | Dec 31, 2020 | Sep 30, 2020 | Jun 30, 2020 | Mar 31, 2020 | Dec 31, 2019 | Sep 30, 2019 | Jun 30, 2019 | Mar 31, 2019 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings before tax but after interest (EBT) (ttm) | US$ in thousands | -473,000 | -453,100 | -164,100 | -792,800 | -587,600 | -558,000 | -348,700 | 527,000 | 575,100 | 672,100 | 740,000 | 705,600 | 638,700 | 511,200 | 429,900 | 426,400 | 613,200 | 605,500 | 498,900 | 361,400 |
| Revenue (ttm) | US$ in thousands | 3,303,900 | 3,420,200 | 3,544,400 | 3,627,900 | 3,746,500 | 3,804,800 | 4,053,200 | 4,485,900 | 4,645,300 | 4,835,600 | 5,020,100 | 4,904,700 | 4,455,300 | 4,068,600 | 3,676,000 | 3,348,000 | 3,148,900 | 3,076,000 | 3,012,200 | 2,839,200 |
| Pretax margin | -14.32% | -13.25% | -4.63% | -21.85% | -15.68% | -14.67% | -8.60% | 11.75% | 12.38% | 13.90% | 14.74% | 14.39% | 14.34% | 12.56% | 11.69% | 12.74% | 19.47% | 19.68% | 16.56% | 12.73% |
December 31, 2023 calculation
Pretax margin = EBT (ttm) ÷ Revenue (ttm)
= $-473,000K ÷ $3,303,900K
= -14.32%
The pretax margin of Scotts Miracle-Gro Company has shown fluctuations over the periods analyzed. The pretax margin was negative in recent quarters like Dec 31, 2023, Sep 30, 2023, and Mar 31, 2023, indicating that the company's operating expenses and taxes were higher than its operating income during these periods. This trend suggests a potential strain on profitability.
On the positive side, the pretax margin was notably high in Mar 31, 2022, at 11.75%, and in the subsequent quarters of Dec 31, 2021 and Sep 30, 2021, where it exceeded 12%. These figures reflect better cost management and operational efficiency leading to stronger profitability before tax expenses.
It is essential to closely monitor and analyze the company's cost structure, revenue generation, and strategic initiatives to understand the factors driving the fluctuations in the pretax margin. Additionally, assessing the impact of one-time expenses, changes in tax regulations, and economic conditions on the pretax margin can provide further insights into the company's financial performance.
Peer comparison
Dec 31, 2023