SMG FY 2013 Earnings Report — The Scotts Miracle-Gro Company Revenue & Financial Results | Market Cap Arena

The Scotts Miracle-Gro CompanySMG

FY 2013 Earnings

Reported November 20, 2013

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2013	Prior Q	FY 2012	QoQ Change	YoY Change
Revenue	$2.8B	—	$2.8B	—	-0.3%
Op. Income	$313M	—	$244M	—	28.6%
Gross Margin	34.9%	—	34.0%	—	0.9pp
Net Margin	5.7%	—	3.8%	—	2.0pp
EPS (Diluted)	$2.57	—	$1.71	—	50.3%
Free Cash Flow	$282M	—	$84M	—	235.6%

Revenue Flow

Item	Amount
REVENUE	$2.8B
Cost of Revenue	$1.8B
GROSS PROFIT	$982M
R&D Expenses	$54M
Selling & Marketing	$142M
General & Administrative	$519M
SG&A Expenses	$661M
Other Expenses	$10M
Operating Expenses	$661M
Cost & Expenses	$2.5B
OPERATING INCOME	$313M
Interest Income	$0
Interest Expense	$59M
Other Income/Expenses	-$59M
INCOME BEFORE TAX	$254M
Income Tax Expense	$93M
Net Income from Continuing Ops	$159M
Net Income from Discontinued Ops	$2M
Other Adjustments	$0
NET INCOME	$161M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$161M
D&A	$66M
EBIT	$311M
EBITDA	$377M
EPS	$3
EPS Diluted	$3

Income Statement

Item	Amount
REVENUE	$2.8B
Cost of Revenue	$1.8B
GROSS PROFIT	$982M
R&D Expenses	$54M
Selling & Marketing	$142M
General & Administrative	$519M
SG&A Expenses	$661M
Other Expenses	$10M
Operating Expenses	$661M
Cost & Expenses	$2.5B
OPERATING INCOME	$313M
Interest Income	$0
Interest Expense	$59M
Other Income/Expenses	-$59M
INCOME BEFORE TAX	$254M
Income Tax Expense	$93M
Net Income from Continuing Ops	$159M
Net Income from Discontinued Ops	$2M
Other Adjustments	$0
NET INCOME	$161M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$161M
D&A	$66M
EBIT	$311M
EBITDA	$377M
EPS	$3
EPS Diluted	$3

Cash Flow Statement

Item	Amount
Net Income	$161M
Depreciation & Amortization	$66M
Stock-Based Compensation	$10M
Deferred Income Tax	$24M
Other Non-Cash Items	$15M
Change in Working Capital	$66M
OPERATING CASH FLOW	$342M
Capital Expenditure	-$60M
Acquisitions (Net)	-$3M
Purchases of Investments	$0
Sales/Maturities of Investments	$0
Other Investing Activities	-$900.0K
NET CASH FROM INVESTING	-$64M
Net Debt Issuance	-$208M
Common Stock Repurchased	$0
Common Dividends Paid	-$88M
Other Financing Activities	$15M
NET CASH FROM FINANCING	-$281M
FREE CASH FLOW	$282M
Net Change in Cash	-$2M

Balance Sheet

Item	Amount
Cash & Equivalents	$130M
Short-Term Investments	$0
Net Receivables	$207M
Inventory	$325M
Other Current Assets	$220M
TOTAL CURRENT ASSETS	$881M
PP&E (Net)	$422M
Goodwill	$315M
Intangible Assets	$284M
Long-Term Investments	$4M
Tax Assets	-$4M
Other Non-Current Assets	$34M
TOTAL NON-CURRENT ASSETS	$1.1B
TOTAL ASSETS	$1.9B
Account Payables	$138M
Short-Term Debt	$92M
Deferred Revenue	$0
Other Current Liabilities	$110M
TOTAL CURRENT LIABILITIES	$510M
Long-Term Debt	$478M
Deferred Revenue NC	-$96M
Deferred Tax Liabilities	$96M
Other Non-Current Liabilities	$239M
TOTAL NON-CURRENT LIABILITIES	$717M
TOTAL LIABILITIES	$1.2B
Common Stock	$398M
Additional Paid-In Capital	$397M
Retained Earnings	$703M
Treasury Stock	-$313M
Accum. Other Comp. Income	-$78M
Other Equity	-$397M
TOTAL STOCKHOLDERS' EQUITY	$711M
Minority Interest	$0
TOTAL EQUITY	$711M
TOTAL LIABILITIES & EQUITY	$1.9B
Total Debt	$571M
Net Debt	$441M