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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.
Instead has launched a new natural lawn care brand that emphasizes simplicity and sustainability. The product range includes tailored fertilizers and grass seed mixes, all made from natural ingredients like molasses and alfalfa. Co-owned by actress Drew Barrymore, who highlights the commitment to environmental responsibility, the brand targets millennials seeking convenient, eco-friendly options. Instead's products are designed for direct delivery, reducing guesswork and packaging waste. Backed by 1868 Ventures, this initiative aims to innovate and disrupt traditional lawn care.
The Scotts Miracle-Gro Company (NYSE: SMG) announced the pricing of $500 million in 4.000% senior notes due 2031. The offering, which has not been registered under the Securities Act, is expected to close on March 17, 2021. Proceeds will be used to reduce borrowings on the senior secured revolving credit facility. Scotts Miracle-Gro is a leading marketer of branded lawn and garden care products, boasting approximately $4.1 billion in sales. The company emphasizes this issuance as part of its strategy for financial management.
The Scotts Miracle-Gro Company (NYSE: SMG) plans to offer $500 million of senior notes due 2031 in an unregistered offering. The offering, subject to market conditions, aims to reduce borrowings under its senior secured revolving credit facility. The Senior Notes have not been registered and may not be sold without relevant exemptions. Scotts Miracle-Gro, with approximately $4.1 billion in sales, is a leading marketer of consumer lawn and garden products and operates the Hawthorne Gardening Company for indoor growing solutions.
The Scotts Miracle-Gro Company (NYSE: SMG) will host a virtual Investor & Analyst Day on April 8, 2021, starting at 9:00 a.m. ET. The event will showcase insights from the executive and leadership teams focused on U.S. Consumer and Hawthorne Gardening businesses. It will include approximately 2.5 hours of presentations followed by a live Q&A session. Interested investors can register through the company's website. With sales around $4.1 billion, Scotts Miracle-Gro is a top marketer in the lawn and garden care industry.
The Scotts Miracle-Gro Company (NYSE: SMG) announced that it now anticipates positive sales growth in its U.S. Consumer segment, up from previous guidance of flat to -5%. Senior VP Cory Miller noted a significant 25% year-to-date increase in consumer purchases as retailers gear up for peak season. As a result, the company expects to exceed its earnings guidance of $8.00 to $8.40 per share. Specific updated ranges for sales and earnings will be provided later in spring.
The Scotts Miracle-Gro Company (NYSE: SMG) will join the 42nd Annual Raymond James Institutional Conference on March 1, 2021. Interim CFO Cory Miller and Executive VP Jim King will conduct a virtual chat at 8:20 a.m. (ET) to discuss recent business trends and long-term strategies with investors. A live webcast will be accessible on the Company's investor relations site, with an archive available for 12 months. ScottsMiracle-Gro, with sales of approximately $4.1 billion, is a leader in lawn and garden care products, marketing brands like Scotts®, Miracle-Gro®, and Ortho®.
The Scotts Miracle-Gro Company (NYSE: SMG) will participate virtually in the 2021 Truist Securities Consumer Symposium on February 23, 2021. Interim CFO Cory Miller and EVP Jim King will host a fireside chat at 3:00 p.m. (ET) to discuss recent business trends and long-term strategies. Investors can listen to the live webcast on the Company’s investor relations website, with an archive available for 12 months. ScottsMiracle-Gro, with $4.1 billion in sales, is a leader in branded consumer lawn and garden products, featuring well-known brands like Scotts®, Miracle-Gro®, and Ortho®.
The Scotts Miracle-Gro Company (NYSE: SMG) reported its first-ever profit for the fiscal first quarter, with sales soaring 105% to $748.6 million, driven by strong consumer demand and retailer support. Income from continuing operations was $0.43 per diluted share, a notable recovery from a loss of $1.28 per share last year. Sales from the U.S. Consumer segment rose 147%, while Hawthorne sales increased 71%. The company raised its full-year sales growth outlook for Hawthorne to 20-30% and reaffirmed adjusted EPS guidance of $8.00 to $8.40, despite anticipated challenges in the second half.
ScottsMiracle-Gro has announced a consumer advisory regarding certain Miracle-Gro and Nature’s Care raised bed soil products produced between May 15 and June 4, 2020, due to potential contamination by foreign materials. This voluntary action, done in cooperation with the Michigan Department of Agriculture, aims to maintain product quality and safety. Affected products include specific lot codes, and consumers are urged to dispose of these items. Refunds or replacements are available by contacting consumer services. No other products are impacted.
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