Welcome to our dedicated page for The Scotts Miracle-Gro Company news (Ticker: SMG), a resource for investors and traders seeking the latest updates and insights on The Scotts Miracle-Gro Company stock.
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.
The Scotts Miracle-Gro Company (NYSE SMG) will announce its first quarter financial results on February 3, 2021, before the U.S. markets open. The Company will conduct a conference call at 9:00 a.m. ET to discuss these results. Interested participants can join by calling 800-263-0877 with the conference code 3989033, while a replay will be accessible at 888-203-1112 for 15 days post-call. The Company's approximate $4.1 billion sales position them as a leader in branded lawn and garden products, known for their popular brands like Scotts and Miracle-Gro.
The Scotts Miracle-Gro Company (NYSE: SMG) announced significant organizational changes aimed at enhancing growth and shareholder value. Randy Coleman has left his position as CFO, with Cory Miller promoted to interim CFO. Other notable promotions include Kelly Berry and Lonny Essex in finance roles. The company is exceeding Q1 performance targets, with optimism expressed about the gardening market and future e-commerce strategies. The leadership changes are part of long-term strategic planning, not due to performance issues. The company generated approximately $4.1 billion in sales.
Scotts Miracle-Gro Company (NYSE: SMG) announced organizational changes aimed at enhancing growth and shareholder value. Key appointments include Cory Miller as interim CFO following Randy Coleman's departure. Major segment performance exceeded Q1 targets, and the company emphasizes its strong market position in gardening and hydroponics. The realignment was part of a long-term strategy, not due to performance concerns. The updated leadership aims to leverage internal talent and market trends to drive future growth.
The Scotts Miracle-Gro Foundation has launched its GroMoreGood Grassroots Grants in collaboration with KidsGardening to enhance children's access to fresh food and gardening education.
This initiative aims to connect 10 million children to gardening benefits by 2023. The program embraces various community-driven projects, allowing for flexible grant applications amidst COVID-19.
Applications for grants ranging from $500 to $1,000 are open until February 4, 2021, with winners announced on March 20, 2021.
The Scotts Miracle-Gro Company (NYSE: SMG) has announced a cash dividend of $0.62 per share, payable on December 10, 2020 to shareholders on record as of November 30, 2020.
With approximately $4.1 billion in annual sales, Scotts Miracle-Gro is a leading marketer of consumer lawn and garden products. Their popular brands include Scotts®, Miracle-Gro®, and Ortho®. The company also owns The Hawthorne Gardening Company, which focuses on indoor and hydroponic gardening solutions.
The Scotts Miracle-Gro Company (NYSE: SMG) reported a record Q4 and fiscal year 2020, with a 90% sales increase in the U.S. Consumer segment and a 68% rise in Hawthorne sales. Full-year GAAP earnings were $6.78 per share, with guidance for fiscal 2021 indicating adjusted EPS between $8.00 to $8.40. The company also announced a joint venture for Bonnie Plants, expected to be accretive to earnings in fiscal 2021 but not included in current guidance. Overall, company-wide sales grew 31% to $4.13 billion for the year, driven by strong consumer demand.
The Scotts Miracle-Gro Company (NYSE SMG) will announce its fourth-quarter financial results on November 4, 2020, before U.S. markets open. A conference call to discuss these results is scheduled for 9:00 a.m. ET. Participants can join by calling 800-263-0877 with Conference Code: 4510222. A replay will be available for 15 days, and a live webcast will be accessible on the company's investor relations website. ScottsMiracle-Gro, with approximately $3.2 billion in sales, is a leader in branded lawn and garden products.
Scotts has completed field refurbishments for four youth baseball and softball grant recipients in 2020, bringing the total to two dozen fields renovated since the program's inception in 2016. This initiative, part of Scotts' commitment to improving children's access to greenspaces, has provided nearly $1.75 million in funding. Key recipients include Boys & Girls Clubs of Greater Northwest Indiana and the City of Memphis Parks. The program aims to enhance community engagement through modern playing facilities, with support from MLB and notable figures like Ryan Howard and Jennie Finch participating in outreach efforts.
The Scotts Miracle-Gro Company (NYSE: SMG) announced on Sept. 14, 2020, that it expects fiscal 2020 sales and non-GAAP adjusted earnings per share (EPS) to exceed previous guidance. The company predicts non-GAAP adjusted EPS will be approximately $7.25, driven by over 30% sales growth, attributed to strong consumer demand and retailer support. Additionally, lower expenses are anticipated to provide approximately $1 per share in tailwinds. A detailed fiscal 2021 guidance is set for release in November.
Scotts has partnered with CAMP to host the largest virtual Field Day on July 24, 2020. This free event will allow families to participate in various games from home, starting at 9 a.m. ET and ending at 9 p.m. ET. Participants will be divided into teams and compete for prizes, including a CAMP gift box valued at up to $1,000 for first place. This initiative aims to bring families together for fun, especially during summer, with games designed to engage both kids and adults. Over $3.2 billion in sales positions Scotts as a leading brand in lawn and garden care.
FAQ
What is the current stock price of The Scotts Miracle-Gro Company (SMG)?
What is the market cap of The Scotts Miracle-Gro Company (SMG)?
What does The Scotts Miracle-Gro Company specialize in?
What are some of the well-known brands under Scotts Miracle-Gro?
Who are the primary retailers for Scotts Miracle-Gro products?
What is The Hawthorne Gardening Company?
What recent financial achievements has Scotts Miracle-Gro reported?
What is the focus of The Scotts Miracle-Gro Foundation?
How has Scotts Miracle-Gro responded to environmental concerns?
Where is Scotts Miracle-Gro headquartered?
How can investors get more information about Scotts Miracle-Gro?
What is the company's approach to innovation?
