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The Scotts Miracle-Gro Company (NYSE: SMG) is the leading marketer of branded consumer products for lawn and garden care as well as indoor and hydroponic growing products. Headquartered in Marysville, Ohio, the company boasts an impressive portfolio of well-recognized brands including Scotts®, Miracle-Gro®, Ortho®, Tomcat®, and Roundup®. These products are sold primarily through major retailers such as Home Depot, Lowe's, and Walmart, allowing the company to maintain an advantageous market position.
The company is dedicated to helping individuals of all ages enhance their outdoor spaces. Their industry-leading lawn, garden, and outdoor living products and services aim to create a beautiful world. Scotts Miracle-Gro is also committed to sustainability, offering products that cater to natural and organic gardening solutions, as well as indoor and urban gardening. The company listens to consumer feedback to continuously develop products that meet their needs.
Scotts Miracle-Gro's subsidiary, The Hawthorne Gardening Company, is a prominent provider of nutrients, lighting, and other materials used in the indoor and hydroponic growing segment. The Hawthorne division underscores Scotts Miracle-Gro's expansion into the burgeoning cannabis market, making it a key player in cannabis-growing equipment in North America.
Financially, Scotts Miracle-Gro has demonstrated robust performance. With approximately $3.6 billion in sales, the company continues to focus on improving its financial and operating performance. Recent achievements include near-record retail shipments and mid-teens percentage growth in year-to-date POS units versus the previous year. As stated by CEO Jim Hagedorn, the company is also making significant strides in debt reduction and covenant compliance, aiming to achieve a $1 billion free cash flow target in the fiscal '23 and '24 period.
The company's commitment to community and environmental sustainability is reflected in its philanthropic efforts. The Scotts Miracle-Gro Foundation aims to build healthier communities, empower the next generation, and preserve the planet. The foundation supports non-profits dedicated to these causes through grants, endowments, and multi-year capital gifts.
Scotts Miracle-Gro continues to innovate and lead in its industry, evidenced by its recent decision to remove neonics from Ortho® outdoor products to protect pollinators like honeybees. This decision highlights the company's responsiveness to consumer concerns and its dedication to environmental stewardship.
For more information, visit www.scottsmiraclegro.com.
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.
ScottsMiracle-Gro (NYSE: SMG) reported its fiscal 2024 results with U.S. Consumer sales up 6% and total company net sales flat at $3.6 billion. The company posted a GAAP loss per share of $0.61 and non-GAAP adjusted EPS of $2.29. Notable achievements include exceeding the free cash flow target of $1 billion over two years, achieving net leverage of 4.86x, and delivering non-GAAP adjusted EBITDA of $510 million. The U.S. Consumer segment showed strength with a 9% increase in POS units, while Hawthorne segment sales decreased 37% to $294.7 million. The company's gross margin rate improved to 23.9% GAAP and 26.3% non-GAAP adjusted.
ScottsMiracle-Gro (NYSE: SMG) has appointed Rob Candelino to its Board of Directors. Candelino, currently CEO of PetSafe Brands, brings 25 years of experience from Unilever, where he last served as CEO of Unilever Thailand and Regional Head of Inland ASEAN. He fills the Board seat previously held by Nancy Mistretta, who retired in January 2024. Candelino is the fourth appointment to the Board since 2022, joining Mark Kingdon, Brian Sandoval, and Edith Avilés. The appointment comes as ScottsMiracle-Gro, with approximately $3.6 billion in sales, focuses on investing in its brands and evolving its lawn and garden franchise.
Scotts Miracle-Gro (NYSE: SMG) has announced a quarterly cash dividend of $0.66 per share, payable on December 6, 2024, to shareholders of record as of November 22, 2024. The company, with approximately $3.6 billion in sales, is the world's largest marketer of branded consumer lawn and garden products, including market-leading brands Scotts®, Miracle-Gro®, and Ortho®. Through its subsidiary, The Hawthorne Gardening Company, it also leads in providing materials for indoor and hydroponic growing.
ScottsMiracle-Gro has launched two new organic products in 2024: Miracle-Gro Organic Raised Bed & Garden Soil and Miracle-Gro Organic All Natural Mulch. The soil blend is peat-free, made with upcycled green waste, and manufactured within 150 miles of retail locations. It includes a natural fertilizer feeding plants for up to two months. The mulch is the first nationally distributed organic mulch in retail, featuring dye-free formula, 10% post-consumer recycled packaging content, and sustainably forested wood. This product expansion responds to growing organic gardening interest, with 76% of millennials showing extreme interest in the category.
ScottsMiracle-Gro (NYSE: SMG) has scheduled the release of its fourth quarter 2024 financial results for Wednesday, November 6, 2024, 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. ScottsMiracle-Gro, with approximately $3.6 billion in sales, is the world's largest marketer of branded consumer products for lawn and garden care, featuring leading brands such as Scotts®, Miracle-Gro®, and Ortho®. Their subsidiary, The Hawthorne Gardening Company, specializes in indoor and hydroponic growing materials.
ScottsMiracle-Gro conducted extensive R&D field trials for its new Miracle-Gro Organic Raised Bed & Garden Soil, set to launch in 2024. The trials, among the largest in company history, tested product quality and performance on over 300 plants across 138 raised beds and six garden rows. The study focused on developing locally crafted products, using soil mixes from various U.S. regions to ensure consistent efficacy across geographic locations.
The trials were particularly important due to the complexity of organic growing media compared to conventional counterparts. The soil blend includes a quick-release fertilizer, which can interact with other ingredients like aged bark and compost. ScottsMiracle-Gro also conducted competitive testing against major market competitors, demonstrating superior performance of Miracle-Gro products.
ScottsMiracle-Gro has released a white paper titled 'The Truth About Lawns' to highlight the importance of lawns and green spaces. The company argues that turfgrass and green spaces contribute to overall wellness, protect natural ecosystems, and support biodiversity and a sustainable future. ScottsMiracle-Gro acknowledges the challenges posed by changing climate conditions, especially drought, but advocates for yards filled with living things rather than non-living alternatives.
The company's scientists are developing new solutions for challenging environments, including drought-tolerant grass options that require less water. ScottsMiracle-Gro emphasizes that yards can be a combination of grass, clover, edible gardens, and native plants. With approximately $3.6 billion in sales, ScottsMiracle-Gro is the world's largest marketer of branded consumer products for lawn and garden care, including popular brands like Scotts, Miracle-Gro, and Ortho.
ScottsMiracle-Gro hosted the 2024 National Partner Network Meeting in Marysville, Ohio, offering partners a behind-the-scenes look at the company's operations. The event, organized by The Scotts Miracle-Gro Foundation, brought together environmental organizations to network and share knowledge. Activities included an R&D tour, apiary presentation, discussions on future landscapes, and outdoor excursions.
The National Partner Network, financially supported by the Foundation, comprises environmental organizations focused on issues like improving waterways, water conservation, and pollinator habitat preservation. This year's meeting, requested to be held at ScottsMiracle-Gro's campus, featured presentations on drought-tolerant products and the company's vision for future yards.
ScottsMiracle-Gro, with approximately $3.6 billion in sales, is the world's largest marketer of branded consumer products for lawn and garden care, owning market-leading brands like Scotts®, Miracle-Gro®, and Ortho®.
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