Filing Flows › Scotts Miracle-Gro (SMG) › Q2 FY26 › vs Q1 FY26
Scotts Miracle-Gro (SMG) Q2 FY26 vs Q1 FY26 (quarter over quarter)
Scotts Miracle-Gro's revenue rose $1.1B (+312%) from $354M in Q1 FY26 to $1.5B in Q2 FY26. The biggest changes: U.S. Consumer reportable segment +$1.0B (+319%); Other non-reportable operating segment +$56.6M (+219%). Gross margin 41.8% against 25.0% (+16.8 pts).
Scotts Miracle-Gro, Q2 FY26: revenue $1.5B (+5% year over year), operating margin 27.5%, net earnings $239M, operating cash flow $220M. The chart draws each line against Q1 FY26, the increases inside each band.
Margins
| Q2 FY26 | Q1 FY26 | Change | |
|---|---|---|---|
| Gross margin | 41.8% | 25.0% | +16.8 pts |
| Operating margin | 27.5% | -6.2% | +33.7 pts |
| Net margin | 16.3% | -35.3% | +51.6 pts |
| Free cash flow margin | 13.8% | -110.2% | +124.0 pts |
Every line
| Line | Q2 FY26 | Q1 FY26 | Change | % |
|---|---|---|---|---|
| U.S. Consumer reportable segment | $1.4B | $328M | $1.0B | +319% |
| Other non-reportable operating segment | $82.5M | $25.9M | $56.6M | +219% |
| Revenue | $1.5B | $354M | $1.1B | +312% |
| Gross profit | $610M | $88.7M | $522M | +588% |
| Cost of revenue | $849M | $266M | $583M | +220% |
| Operating profit | $402M | −$21.8M | $424M | — |
| Operating expenses | $209M | $110M | $98.2M | +89% |
| Pre-tax earnings | $340M | −$140M | $481M | — |
| Other expense, net | $61.6M | $119M | −$57.1M | -48% |
| SG&A | $199M | $106M | $93.2M | +88% |
| Other operating costs | $9.5M | $4.5M | $5.0M | +111% |
| Net earnings | $239M | −$125M | $364M | — |
| Income tax | $102M | −$15.5M | $117M | — |
| Depreciation | $15.4M | $15.6M | −$200K | -1% |
| Share-based compensation | $18.9M | $7.4M | $11.5M | +155% |
| Working capital & other | $52.9M | $268M | −$216M | -80% |
| Operating cash flow | $220M | −$370M | $590M | — |
| Free cash flow (OCF − capex) | $201M | −$390M | $592M | — |
| Capital expenditures | $18.6M | $20.0M | −$1.4M | -7% |
Questions
How much did Scotts Miracle-Gro's revenue grow quarter over quarter in Q2 FY26?
Scotts Miracle-Gro's revenue rose $1.1B (+312%) from $354M in Q1 FY26 to $1.5B in Q2 FY26.
What drove Scotts Miracle-Gro's revenue change in Q2 FY26?
U.S.