Welcome to our dedicated page for Scotts Miracle Gr news (Ticker: SMG), a resource for investors and traders seeking the latest updates and insights on Scotts Miracle Gr stock.
Scotts Miracle-Gro (SMG) is a leader in lawn care, hydroponic systems, and indoor gardening solutions, serving consumers and commercial growers through its US Consumer, Hawthorne, and International segments. This page provides a comprehensive collection of official press releases, financial updates, and strategic announcements directly from the company.
Investors and industry professionals will find timely updates on quarterly earnings, product innovations, and market expansions, including developments in the Hawthorne segment’s specialized hydroponic equipment. All content is sourced from verified channels to ensure accuracy and relevance for decision-making.
Key news categories include corporate milestones, sustainability initiatives, and partnerships impacting both traditional lawn care and emerging indoor agriculture markets. Bookmark this page to stay informed about SMG’s latest advancements in plant nutrition, smart gardening technologies, and regulatory developments affecting the industry.
The Scotts Miracle-Gro Company (NYSE: SMG) has appointed The Honorable Brian Sandoval to its Board of Directors. Sandoval, former Governor of Nevada (2011-2019) and current President of the University of Nevada, Reno, brings extensive experience in economic growth and job creation. He will serve on the Innovation and Technology Committee and the Nominating and Governance Committee. The company, with approximately $4.9 billion in sales, is a major player in the lawn and garden sector, known for brands like Scotts, Miracle-Gro, and Ortho.
The Scotts Miracle-Gro Company (NYSE: SMG) reported a surge in consumer purchases of its lawn and garden brands in May, but lowered its sales and adjusted earnings outlook for fiscal 2022. Year-to-date POS figures are down 6% in dollars and 9% in units compared to last year. Adjusted earnings per share are now projected between $4.50 and $5.00, while U.S. Consumer sales are expected to decrease by 4-6%. Additionally, Hawthorne sales are forecasted to decline by 40-45% for the year. The company is seeking to adjust debt covenants to increase leverage due to external market pressures.
The Scotts Miracle-Gro Company (NYSE: SMG) announced a 8% decrease in company-wide sales to $1.68 billion for Q2, driven by a 44% drop in Hawthorne segment sales to $202.6 million. GAAP EPS fell to $4.94 from $5.44, with non-GAAP adjusted EPS at $5.03, down from $5.64. Consumer purchases are down 12% entering May, but recent momentum suggests improvement. The acquisition of Australia-based Cyco for $34 million aims to bolster Hawthorne's nutrient offerings. Revised sales guidance indicates a likely low-end outcome of 2% year-over-year growth.
The Scotts Miracle-Gro Company (NYSE: SMG) announced a cash dividend of $0.66 per share, set to be paid on June 10, 2022, to shareholders of record as of May 27, 2022. With approximately $4.9 billion in sales, ScottsMiracle-Gro is a leading marketer of lawn and garden products, with well-known brands like Scotts®, Miracle-Gro®, and Ortho®. The Hawthorne Gardening Company, a subsidiary, specializes in indoor and hydroponic growing supplies, while The Hawthorne Collective invests in cannabis-related ventures.
The Scotts Miracle-Gro Company (NYSE SMG) will announce its second quarter financial results on May 3, 2022, before U.S. markets open. A conference call discussing these results is scheduled for 9:00 a.m. ET. Interested participants can join by calling 1-888-378-4398 using the passcode 490745. A replay will be available for 15 days via 1-888-203-1112, passcode 9718563. Scotts Miracle-Gro, with $4.9 billion in sales, is a leading marketer of branded lawn and garden consumer products, including the well-known Scotts, Miracle-Gro, and Ortho brands.
Scotts Miracle-Gro (NYSE: SMG) has lowered its full-year sales guidance for the Hawthorne segment by 15 to 25%, influenced by an oversupply of cannabis impacting both indoor and outdoor cultivation. During the Raymond James Conference, CFO Cory Miller noted a decline in sales volume and adjusted earnings per share expectations. However, optimism remains for the U.S. Consumer segment, expecting non-GAAP adjusted earnings of at least $8.00. Additionally, plans for a significant acquisition in the live goods category have been shelved as the company remains disciplined in its M&A strategy.
The Scotts Miracle-Gro Company (NYSE: SMG) will present at Raymond James & Associates’ 43rd Annual Institutional Investors Conference on March 8, 2022, at 8:40 a.m. EST. CFO Cory Miller and EVP Jim King will also participate in a virtual fireside chat at the UBS Global Consumer and Retail Conference on March 9, 2022, at 2:00 p.m. EST. Interested listeners can access live webcasts of both events via the company's investor relations website. ScottsMiracle-Gro reported approximately $4.9 billion in sales, leading the market in lawn and garden care products.
Scotts and MLB Launch 2022 Field Refurbishment Grant Program
Scotts Company LLC, in partnership with Major League Baseball, has announced the opening of submissions for the 2022 Scotts Field Refurbishment Grant Program, aimed at enhancing youth baseball and softball facilities. The program, now in its seventh year, will award $200,000 to refurbish four fields. Applications are open until March 13, and winners will be announced in early spring 2022. The initiative is part of the GroMoreGood program, which aims to connect 10 million children with outdoor play and gardening by 2023.
The Scotts Miracle-Gro Company (NYSE: SMG) announced the successful completion of an exchange offer for $500 million in 4.000% Senior Notes due 2031. The offer, which expired on February 3, 2022, saw approximately 95.0% of the original notes tendered. The exchange was aimed at fulfilling obligations under a prior registration rights agreement and does not represent new financing. Settlement is expected around February 9, 2022.
