S&P Global Ratings-adjusted leverage stood at 10.6x for the trailing-12-month period ending Dec. 31, 2023, up from 7.8x at the same time the previous year. Adjusted EBITDA for the first quarter of fiscal 2024 (ended Dec. 31, 2023) declined 64% compared to the previous year, primarily due to a continued decline in volumes, inability to pass through all raw material inflation, and lower pricing--noting that the first quarter is typically the company?s seasonal low point. The Hawthorne business continues to underperform, leading the company to withdraw (atleast temporarily) its full-year guidance for the segment. Conversely, management reaffirmed its guidance for high-single-digit percent growth in the core U.S. Consumer business; a substantial volume recovery may be possible but is highly dependent
