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) reported an 8% growth in third-quarter sales, reaching $1.61 billion, driven by a 48% increase in the Hawthorne segment. U.S. Consumer segment sales declined 4% to $1.05 billion. Despite a decline in gross margin due to rising distribution costs, GAAP EPS rose 12% to $4.00. The company reaffirmed its full-year sales growth guidance of 17% to 19%, expecting adjusted EPS between $9.00 and $9.30. Notably, Scotts announced the acquisition of HydroLogic for $65 million, projected to add approximately $20 million in annual sales, enhancing the Hawthorne portfolio.
The Scotts Miracle-Gro Company (NYSE: SMG) announced the appointment of Gerald (Jerry) Volas to its Board of Directors. Volas, who previously served as CEO of TopBuild Corp., brings extensive operational and financial expertise. His role will enhance the Board's capabilities in driving shareholder value. Volas is a Certified Public Accountant with a Bachelor of Business Administration from the University of Michigan. He will participate in the Audit and Finance Committees, with his term expiring in 2023.
The Scotts Miracle-Gro Company (NYSE: SMG) has announced a quarterly dividend increase to $0.66 per share. The fourth quarter dividend will be payable on September 10, 2021, to shareholders of record by August 27, 2021. With approximately $4.1 billion in sales, Scotts Miracle-Gro is a leading marketer in the lawn and garden product industry, known for its brands like Scotts®, Miracle-Gro®, and Ortho®. The company also operates The Hawthorne Gardening Company, focused on indoor and hydroponic growing solutions.
The Scotts Miracle-Gro Company (NYSE SMG) will report its third quarter financial results on August 4, 2021, before U.S. markets open. A conference call is scheduled for 9:00 a.m. ET to discuss the results. Interested participants can join by calling 866-337-5532 (Conference Code: 2106695) or listen to the replay at 888-203-1112 for 15 days post-call. With approximately $4.1 billion in sales, Scotts is a global leader in branded lawn and garden products, featuring top brands like Scotts®, Miracle-Gro®, and Ortho®.
Miracle-Gro has launched the GroMoreGood Harvest Donation Bag, part of its partnership with No Kid Hungry. Each bag purchased can provide up to 20 meals for children in need. This initiative aims to combat childhood hunger exacerbated by the pandemic, with a goal to connect 10 million children to gardens and greenspaces by 2023. The bag features artwork from a student contest winner, promoting community sharing of excess garden produce. Miracle-Gro will donate $2 for every bag sold until September 30, 2021.
The Scotts Miracle-Gro Company (NYSE: SMG) has raised its fiscal 2021 sales growth forecast to 17-19%, driven by strong performance in both the U.S. Consumer segment and Hawthorne business, which is now projected to grow 40-45%.
Adjusted non-GAAP EPS is now estimated at $9.00 to $9.30, up from prior guidance of $8.60 to $9.00. Consumer purchases of lawn and garden products have risen 10% year-to-date, showcasing robust engagement and retail activity.
The Scotts Miracle-Gro Company (NYSE: SMG) is collaborating with Bayer to secure the future of glyphosate-containing Roundup™ products. CEO Jim Hagedorn expressed optimism about alternative solutions while reaffirming the company’s commitment to marketing Roundup. ScottsMiracle-Gro has launched non-glyphosate options through its Ortho® GroundClear® brand, catering to consumer demands and enhancing its market position. With approximately $4.1 billion in sales, the company remains a leader in the consumer lawn and garden industry, though it acknowledges potential risks affecting its operations and future performance.
The Scotts Miracle-Gro Company (NYSE SMG) will participate in William Blair & Company’s 41st Annual Growth Stock Conference on June 2, 2021, at 9:40 a.m. (ET). Interim CFO Cory Miller and Executive VP Jim King will present a virtual fireside chat to discuss recent business trends and long-term strategies. The live webcast will be accessible on the Company's investor relations website, with an archive available for 30 days. ScottsMiracle-Gro, with around $4.1 billion in sales, is a leader in consumer lawn and garden products, recognized for brands like Scotts®, Miracle-Gro®, and Ortho®.
The Scotts Miracle-Gro Company (NYSE: SMG) reported a 32% increase in sales for Q2 2021, totaling $1.83 billion, driven by strong growth in both U.S. Consumer and Hawthorne segments. U.S. Consumer sales rose 23% to $1.37 billion, while Hawthorne's sales surged 66% to $363.8 million. GAAP EPS increased to $5.44 from $4.43 year-over-year. The company projects Hawthorne sales growth at 30-40% for the fiscal year, amid ongoing pricing adjustments to counteract commodity cost pressures.
