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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 (NYSE: SMG) has appointed Nick Miaritis to its Board of Directors. Miaritis, currently chief client officer at VaynerMedia, brings expertise in brand partnerships and creative marketing, having led notable campaigns for major brands. He replaces Tom Kelly, who retired after nearly 20 years of board service.
Miaritis becomes the fifth board appointment since 2022, joining Robert Candelino, Mark Kingdon, Brian Sandoval, and Edith Avilés. The appointment aligns with the company's strategy to add diverse skills and fresh perspectives to its board. CEO Jim Hagedorn highlighted Miaritis's experience in consumer engagement across traditional and emerging platforms as valuable for the company's transformation phase.
ScottsMiracle-Gro, with approximately $3.6 billion in sales, is the world's largest marketer of branded consumer lawn and garden products, operating through well-known brands including Scotts®, Miracle-Gro®, and Ortho®.
ScottsMiracle-Gro (NYSE: SMG) reported improved first quarter results with U.S. Consumer net sales up 11% to $340.9 million, driven by strong fall performance and retailer support for spring 2025. Consumer POS increased 12% in dollars and 13% in units.
The company's GAAP gross margin rate improved 750 basis points to 22.7%, while non-GAAP adjusted gross margin rate increased 1,030 basis points to 24.0%. Non-GAAP Adjusted EBITDA showed a $30 million improvement to $4 million. GAAP loss per share improved to $1.21 from $1.42, and non-GAAP adjusted loss per share improved to $0.89 from $1.45.
Hawthorne segment sales decreased 35% to $52.1 million following strategic exit from third-party distribution. The company reaffirmed its fiscal 2025 guidance, projecting low single-digit growth in U.S. Consumer sales and adjusted EBITDA of $570-590 million, while lowering interest expense guidance by $15-20 million.
Scotts Miracle-Gro (NYSE: SMG) has announced its Board of Directors has approved a quarterly cash dividend of $0.66 per share, payable on March 7, 2025, to shareholders of record as of February 21, 2025.
The company, with approximately $3.6 billion in sales, is the world's largest marketer of branded consumer products for lawn and garden care. Their portfolio includes market-leading brands 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.
The Scotts Miracle-Gro Foundation has opened applications for its GroMoreGood Grassroots Grants program in partnership with KidsGardening for 2025. The initiative aims to connect children with gardens and outdoor activities. Organizations serving at least 15 youth can apply for funding to create new gardens or enhance existing greenspaces, including edible, community, pollinator, and urban farms.
The grant program will support 170 programs in 2025. Eligible applicants must be located in the United States or U.S. Territories and provide proof of 501(c)(3) status or tax-exempt qualification. Applications are open until January 31, 2025, with winners to be announced on March 17, 2025.
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.
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