Scotts Miracle-Gro sees about $20M in commodity inflation in FY13 With more than two thirds of its commodity costs now locked for the year - including about 90% of urea -- the company said it expects approximately $20M in commodity inflation in FY13, primarily due to higher-cost inventory carried into the fiscal year. Offsetting this headwind, the company said it will increase prices in the low single digits and that it expects a benefit of approximately $15M-$20M in savings related to its product cost-out initiatives.
News For SMG From The Last 14 Days
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Scotts Miracle-Gro upgraded at BMO Capital As noted earlier, BMO Capital upgraded Scotts to Outperform from Market Perform. The firm expects the company's results to rebound in FY14, as it thinks the company's guidance is conservative following a survey of over 400 consumers. Target to $67 from $60.