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) announced a registered exchange offer for its $500 million 4.000% Senior Notes due 2031, originally issued in a private placement on March 17, 2021. This exchange is to fulfill obligations under a prior registration rights agreement and will not generate new financing for the company. The exchange offer expires on January 20, 2022, with no proceeds expected from the transaction. The terms of the new notes are largely the same as the original ones, minus certain transfer restrictions. For more details, contact the exchange agent, U.S. Bank National Association.
The Scotts Miracle-Gro Company (SMG) reported a record full-year sales increase of 19% in fiscal 2021, reaching $4.93 billion. U.S. Consumer segment sales grew 11%, while Hawthorne sales surged 39%. Despite these full-year gains, Q4 saw a 17% decline in overall sales, with a GAAP loss of $0.87 per share. The company anticipates FY 2022 non-GAAP adjusted EPS between $8.50 and $8.90 and plans to repurchase up to $300 million in shares. Challenges include an oversupply in the cannabis market impacting Hawthorne's growth and expected SG&A fluctuations.
The Scotts Miracle-Gro Company (NYSE: SMG) has approved a cash dividend of $0.66 per share, which will be payable on December 10, 2021, to shareholders on record as of November 29, 2021. With approximately $4.9 billion in sales, Scotts Miracle-Gro is a prominent player in the branded consumer lawn and garden products market. The company's leading brands include Scotts, Miracle-Gro, and Ortho, alongside its subsidiary, The Hawthorne Gardening Company, specializing in indoor and hydroponic growing products.
The Scotts Miracle-Gro Company (NYSE: SMG) will release its fourth-quarter financial results on November 3, 2021, before the U.S. markets open. A conference call is scheduled for 9:00 a.m. ET to discuss these results. Participants can join by calling 866-337-5532, with a replay available for 15 days via 888-203-1112. The company, with approximately $4.1 billion in sales, is a leader in branded consumer lawn and garden products, featuring well-known brands such as Scotts®, Miracle-Gro®, and Ortho®.
The GroMoreGood Hydroponic Garden Project, supported by ScottsMiracle-Gro, expands to 25 schools in five states, enhancing K-2 education through hydroponic gardening. This initiative aims to connect 10 million children with gardening benefits by 2023. Schools will receive AeroGarden kits, supplies, and a STEM-aligned classroom guide. The project fosters hands-on learning experiences and promotes healthy eating among students, helping them engage with science, technology, engineering, and mathematics concepts.
Scotts Miracle-Gro (NYSE: SMG) has appointed Cory Miller as the new executive vice president and chief financial officer, effective immediately. Miller, who previously served as interim CFO, has over 20 years of financial experience, having played a crucial role in integrating acquisitions at Hawthorne Gardening Company. His diverse background includes positions in finance and corporate audit at Scotts, enhancing the company's growth strategies. Scotts Miracle-Gro reported approximately $4.1 billion in sales, making it a leader in lawn and garden products.
The Scotts Miracle-Gro Company (NYSE: SMG) has acquired Rhizoflora's nutrient brands, Terpinator and Purpinator, for $33.5 million, expecting to add $8 million in annualized sales. This acquisition enhances The Hawthorne Gardening Company's portfolio as it becomes the primary provider of these leading products. Additionally, the company’s subsidiary, The Hawthorne Collective, invested $3.2 million in Dewey Scientific to advance cannabis genomics and cultivation. These strategic moves are aimed at expanding product offerings and improving crop yields in the cannabis sector.
The Scotts Miracle-Gro Company (NYSE: SMG) announced a pricing of $400 million in 4.375% senior notes due 2032. These notes are unregistered under the Securities Act, and their sale is contingent on customary closing conditions, expected to finalize by August 13, 2021. Proceeds will be utilized to reduce existing borrowings and for general corporate purposes, including potential acquisitions. The company reported approximately $4.1 billion in sales, making it a leader in the lawn and garden care market.
The Scotts Miracle-Gro Company (NYSE: SMG) announced an offering of $400 million in senior notes due 2032, subject to market conditions. These senior notes will be offered in an unregistered manner under Rule 144A and Regulation S of the Securities Act. The funds will be primarily used to reduce borrowings under the senior secured revolving credit facility and for general corporate purposes, including potential acquisitions. The offering is not registered and will not be sold in the U.S. without proper registration or exemption.
The Hawthorne Collective, a subsidiary of Scotts Miracle-Gro (NYSE: SMG), is set to invest $150 million in Toronto-based RIV Capital (TSX: RIV), a cannabis investment firm. This investment, structured as a six-year convertible note with an interest rate of 2.03% for the first two years, will enable Scotts to own approximately 42% of RIV Capital upon conversion. This strategic move aims to explore growth opportunities in the cannabis industry as legal conditions evolve. The investment is projected to close in Q4 2021.
