The Scotts Miracle-Gro Company - SMG STOCK NEWS

ScottsMiracle-Gro (NYSE: SMG), the world's leading marketer of branded consumer lawn and garden products, has scheduled its first quarter 2025 financial results release for Wednesday, January 29, 2025, before U.S. markets open. The company will host a video presentation via webcast at 9:00 a.m. ET, followed by an audio Q&A session.

The company, which generates approximately $3.6 billion in sales, is the largest marketer of branded consumer products for lawn and garden care. Their portfolio includes market-leading brands such as Scotts®, Miracle-Gro®, and Ortho®. Through their wholly-owned subsidiary, The Hawthorne Gardening Company, they also lead in providing nutrients, lighting, and materials for indoor and hydroponic growing.

ScottsMiracle-Gro and its Foundation have expanded their commitment to pollinator conservation through multiple initiatives. The company, along with its Ortho brand and the Central Ohio Beekeepers Association, established a new bee yard at their Marysville, Ohio campus. Additionally, through a partnership with the National Fish and Wildlife Foundation (NFWF), they announced grants supporting pollinator conservation projects across 24 states.

The initiative includes 17 grants focused on improving pollinator habitats for monarch butterflies, rusty patched bumble bees, and other native pollinators. The projects will enhance conservation efforts on private working lands. This marks the third year of collaboration between NFWF and The Scotts Miracle-Gro Foundation through the Monarch Butterfly and Pollinators Conservation Fund.

ScottsMiracle-Gro's Associate Garden at the Marysville campus concluded another successful growing season, harvesting 7,041 pounds of fresh produce. The initiative, led by Content Manager Melissa Bond and Sr. Scientist Amy Enfield, Ph.D., distributes produce to various local organizations including the Marysville Food Pantry, Dublin Food Pantry, and Columbus Food Rescue.

The Dublin Food Pantry serves approximately 1,000 visits monthly, including 1,500 children and over 300 senior citizens. Since 2009, the gardens and R&D field trials have contributed nearly 75,000 pounds of fresh vegetables to local communities. The program also serves as an educational platform where new growers can learn from experienced gardeners.

ScottsMiracle-Gro and Every Kid Sports partnership has made significant impact in Phoenix, Columbus, and Philadelphia communities. The initiative helped 408 kids from income-restricted families participate in grass sports including football, cheer, soccer, baseball, softball, track & field, and flag football during Fall 2024.

The program provides financial assistance by covering registration fees, enabling children to participate in sports activities on natural green spaces. Several parents shared testimonials about how the program has positively impacted their children's lives, particularly during challenging financial circumstances.

ScottsMiracle-Gro has detailed its #ThinkWaterPositive initiative in its 2024 Corporate Responsibility Report. Launched in 2023, the initiative focuses on addressing water quantity and quality challenges through three main pillars: research and development, environmental nonprofit partnerships, and consumer education.

The company's R&D efforts include developing water-efficient products and drought-tolerant solutions. Through partnerships with environmental organizations reaching 150 million people, they promote water stewardship. Their consumer education program includes the Scotts Training Institute and region-specific guidance for water conservation in landscaping.

ScottsMiracle-Gro (NYSE: SMG) announced key executive changes, with COO Nate Baxter being elevated to president and COO, while Chris Hagedorn becomes EVP and chief of staff. CFO Matt Garth will depart on December 31, 2024, with Mark Scheiwer, current VP and treasurer, becoming interim CFO and chief accounting officer on January 1, 2025. The company will conduct a search for a permanent CFO.

The restructuring aims to advance the company's transformation strategy, focusing on strengthening its consumer franchise and strategically shifting its Hawthorne subsidiary. The company reaffirmed its fiscal 2025 guidance provided during its November 6 earnings call.

ScottsMiracle-Gro, North America's leading compost user, has released its 2024 Corporate Responsibility Report highlighting its circular economy initiatives. The company recycled approximately 5.5 billion pounds of green waste in 2023, converting materials like grass, tree trimmings, and organic waste into soils, growing amendments, and mulches. Through its network of local suppliers, the company sources most soil inputs within a 120-mile radius, reducing transportation costs and emissions while maintaining product quality.

ScottsMiracle-Gro has partnered with the City of Phoenix and Project EverGreen to combat urban heat island effects through a green space initiative. The company donated 50 trees to Barrios Unidos Park, which were planted by local associates and community volunteers, including Phoenix District 8 Councilwoman Kesha Hodge Washington. The initiative responds to Phoenix's record-breaking summer heat wave of 113 consecutive days with triple-digit temperatures, recognizing the importance of green spaces in providing cooler environments for community recreation and wellbeing.

ScottsMiracle-Gro Foundation and the National Head Start Association (NHSA) are hosting their 2024 Fall Garden Storytime on November 14 at 1 p.m. EST. The half-hour session, co-hosted with KidsGardening, will feature 'Runaway Pumpkins' by Teresa Bateman and a sing-along about pumpkin growth. Sarah Pounders and Pinky Jackalope will lead the interactive session, teaching students about pumpkin varieties and their use as food. The program offers open registration and includes classroom resources provided seasonally throughout the school year.