Filing Flows › Scotts Miracle-Gro (SMG) › Q3 FY26 › vs Q2 FY26
Scotts Miracle-Gro (SMG) Q3 FY26 vs Q2 FY26 (quarter over quarter)
Scotts Miracle-Gro's revenue fell $287M (-20%) from $1.5B in Q2 FY26 to $1.2B in Q3 FY26. The biggest changes: U.S. Consumer reportable segment −$344M (-25%); Other non-reportable operating segment +$56.7M (+69%). Gross margin 31.2% against 41.8% (-10.6 pts).
Scotts Miracle-Gro, Q3 FY26: revenue $1.2B (+1% year over year), operating margin 14.5%, net earnings $112M, operating cash flow $346M. The chart draws each line against Q2 FY26, the increases inside each band.
Margins
| Q3 FY26 | Q2 FY26 | Change | |
|---|---|---|---|
| Gross margin | 31.2% | 41.8% | -10.6 pts |
| Operating margin | 14.5% | 27.5% | -13.1 pts |
| Net margin | 9.6% | 16.3% | -6.8 pts |
| Free cash flow margin | 27.4% | 13.8% | +13.6 pts |
Every line
| Line | Q3 FY26 | Q2 FY26 | Change | % |
|---|---|---|---|---|
| U.S. Consumer reportable segment | $1.0B | $1.4B | −$344M | -25% |
| Other non-reportable operating segment | $139M | $82.5M | $56.7M | +69% |
| Revenue | $1.2B | $1.5B | −$287M | -20% |
| Gross profit | $366M | $610M | −$245M | -40% |
| Cost of revenue | $806M | $849M | −$42.8M | -5% |
| Operating profit | $170M | $402M | −$232M | -58% |
| Operating expenses | $196M | $209M | −$12.4M | -6% |
| Pre-tax earnings | $164M | $340M | −$176M | -52% |
| Other expense, net | $5.8M | $61.6M | −$55.8M | -91% |
| SG&A | $146M | $199M | −$53.6M | -27% |
| Other operating costs | $50.7M | $9.5M | $41.2M | +434% |
| Net earnings | $112M | $239M | −$126M | -53% |
| Income tax | $51.6M | $102M | −$50.0M | -49% |
| Depreciation | $16.0M | $15.4M | $600K | +4% |
| Share-based compensation | $12.0M | $18.9M | −$6.9M | -37% |
| Working capital & other | $205M | −$52.9M | $258M | — |
| Operating cash flow | $346M | $220M | $126M | +57% |
| Free cash flow (OCF − capex) | $321M | $201M | $120M | +59% |
| Capital expenditures | $24.5M | $18.6M | $5.9M | +32% |
Questions
How much did Scotts Miracle-Gro's revenue grow quarter over quarter in Q3 FY26?
Scotts Miracle-Gro's revenue fell $287M (-20%) from $1.5B in Q2 FY26 to $1.2B in Q3 FY26.
What drove Scotts Miracle-Gro's revenue change in Q3 FY26?
U.S.