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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.
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.
The Scotts Miracle-Gro Company (NYSE: SMG) will release its third quarter financial results on July 29, 2020, before U.S. markets open. A conference call to discuss these results will occur at 9:00 a.m. ET. Interested participants can join by calling 800-263-0877 using Conference Code: 3918971. A replay will be available for 15 days via 888-203-1112. The company, with approximately $3.2 billion in sales, is a leading marketer in the lawn and garden products sector, known for its prominent brands including Scotts®, Miracle-Gro®, and Ortho®.
The Scotts Miracle-Gro Company has announced the launch of 1868 Ventures, a fund dedicated to investing in controlled environment agriculture technologies, plant genetics, and sustainable products. This initiative aims to respond to the evolving needs of gardeners and professional growers. Investments will focus on early and growth-stage companies in North America, with typical funding ranging from $0.25 to $2.5 million. The fund will be managed alongside Touchdown Ventures, enhancing support for innovators in lawn care and agriculture.
The Scotts Miracle-Gro Company (SMG) has revised its fiscal 2020 sales growth outlook to between 16% and 18%, up from a previous estimate of 6% to 8%, driven by strong demand in its U.S. Consumer and Hawthorne segments. Adjusted non-GAAP EPS guidance has increased to $5.65 to $5.85 from $4.95 to $5.15, while non-GAAP free cash flow is expected to be around $350 million. The growth in the U.S. Consumer segment includes a 44% increase in May sales with notable gains in Miracle-Gro products.
The Scotts Miracle-Gro Company (NYSE: SMG) reported a 16% increase in sales for Q2 2020, totaling $1.38 billion driven by strong demand in both U.S. Consumer and Hawthorne segments. U.S. Consumer sales rose 11% to $1.10 billion, while Hawthorne sales surged 60% to $230 million. GAAP EPS was $4.43, down from $7.10 a year prior, but Non-GAAP adjusted EPS increased to $4.50 from $3.64. The company revised its Hawthorne sales growth forecast to 30-35%, while reaffirming U.S. Consumer segment growth at 1-3%. Full-year sales are projected to grow by 6-8%.
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