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The Scotts Miracle-Gro Company - SMG STOCK NEWS

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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.

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ScottsMiracle-Gro associates are preparing for Pelotonia, a bike ride event in central Ohio to raise funds for cancer research. The company has participated since 2010, raising over $3 million. Riders commit to raising $1,250 or more each, with 100% of funds supporting cancer research at The Ohio State University Comprehensive Cancer Center (OSUCCC).

Key points:

  • Team ScottsMiracle-Gro will ride 20 to 190 miles
  • The event is not a race but a community ride
  • One associate has raised over $50K in 12 years
  • Funds support new studies at OSUCCC, including immunotherapy for breast cancer and targeted therapy for brain tumors
  • The fundraising deadline is in October
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ScottsMiracle-Gro (SMG) is participating in the sixth annual Parks for Pollinators BioBlitz, organized by the National Recreation and Parks Association (NRPA) in partnership with The Scotts Miracle-Gro Foundation. This event encourages participants to photograph plants, insects, and animals in parks and submit them via the iNaturalist app. The initiative helps park agencies better understand and manage local species and habitats.

To further support pollinators, ScottsMiracle-Gro recently opened an apiary on its Marysville campus. Brian Herrington, president of The Scotts Miracle-Gro Foundation, emphasized the importance of community participation in the BioBlitz to positively impact pollinators. ScottsMiracle-Gro, with approximately $3.6 billion in sales, is the world's largest marketer of branded consumer products for lawn and garden care, featuring popular brands like Scotts, Miracle-Gro, and Ortho.

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ScottsMiracle-Gro (SMG) is promoting clover as an eco-friendly alternative to traditional turfgrass. Clover offers several benefits:

  • Natural self-fertilization through nitrogen fixation
  • Drought resistance and low water requirements
  • Quick establishment and low-growing habit
  • Adaptability to various light conditions
  • Attracts pollinators

The company recommends planting clover in late spring to early summer when temperatures are between 60°F and 80°F. This initiative aligns with ScottsMiracle-Gro's position as the world's largest marketer of branded consumer products for lawn and garden care, with approximately $3.6 billion in sales.

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ScottsMiracle-Gro's Fort Madison plant in Iowa has achieved a remarkable safety milestone, recording zero incidents for 365 days. This translates to a Total Recordable Incident Rate (TRIR) of zero for the year 2024, surpassing their annual goal and setting a new plant record. The achievement represents over 704,000 work hours, equivalent to 352 full-time employees working injury-free for a year.

Brett Denney, liquid operations director, attributes this success to risk reduction efforts led by front-line supervisors and line leads. David Swihart, SVP of global supply chain, emphasizes the company's commitment to safety across all facilities and praises the Fort Madison plant for setting an exemplary standard in fostering a strong safety culture.

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ScottsMiracle-Gro (SMG) is promoting the concept of 'sponge cities' as an environmentally friendly approach to urban planning and lawn care. Sponge cities use plants, green spaces, and natural turfgrass to absorb rainfall and heat, addressing climate change effects. The company argues that living plants and turfgrass are superior to hardscapes in managing water resources and reducing urban heat islands.

SMG emphasizes the benefits of turfgrass, including soil improvement and CO2 conversion. They suggest alternatives like clover, buffalograss, and blue grama for low-maintenance, drought-tolerant options. The company, with $3.6 billion in sales, positions itself as a leader in lawn and garden care products, promoting responsible lawn care practices that align with the sponge city concept.

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The press release discusses clover lawns as a popular alternative to traditional grass. Experts highlight clover's benefits, including low maintenance, drought tolerance, and soil enrichment. Jeremy Yamaguchi of Lawn Love notes that clover creates lush green carpets and attracts beneficial insects. Matthew Koch from Scotts emphasizes clover's ability to fix nitrogen, promoting healthier plant growth. The article mentions Scotts Turf Builder Clover Lawn as a low-maintenance option for those interested in clover lawns. The PR also touches on the growing trend of grass alternatives and their advantages in terms of cost, maintenance, and aesthetics.

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Scotts has announced a multi-year partnership with Every Kid Sports, a national nonprofit, to support income-restricted families by funding youth sports registration fees. The initiative aims to provide expanded access to natural green spaces. Scotts will award a grant of at least $150,000 by 2026, funding registration fees for approximately 800 kids in areas including Columbus, Phoenix, and Philadelphia.

To celebrate the partnership, Scotts recently hosted a Soccer Field Day in Columbus, Ohio, featuring athletes from the Columbus Crew. The event helped over 60 kids get active outdoors. This collaboration aligns with Scotts' mission to connect children and families with green spaces for play, learning, and growth.

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ScottsMiracle-Gro encourages fall gardening for its physical and mental benefits. The company recommends planting young plants for faster results and suggests frost-tolerant vegetables like collards, Swiss chard, and curly kale for edible gardens. Miracle-Gro emphasizes the importance of outdoor activity and connecting with nature before winter, highlighting how fall gardening can provide a screen break and yield a late-season harvest of fresh produce. The message aims to inspire gardeners to extend their growing season and maintain their gardening habits into the autumn months.

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ScottsMiracle-Gro (SMG) addresses the trend of hardscaping in drought-prone regions, where traditional lawns are being replaced with patios and walkways. The company highlights potential issues with non-porous materials leading to excessive rainwater runoff and erosion. SMG advocates for a balanced approach to landscape design, recommending xeriscaping or water-positive designs that combine hardscape materials with living plants.

The press release promotes water-wise native plants as an eco-friendly option for reducing water usage and maintenance. SMG also suggests drought-tolerant plants for landscapes and gardens, emphasizing their ability to thrive in high-heat, low-rain conditions. With $3.6 billion in sales, ScottsMiracle-Gro is positioned as the world's largest marketer of branded consumer products for lawn and garden care, featuring popular brands like Scotts, Miracle-Gro, and Ortho.

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Scotts Miracle-Gro (SMG) is adapting to changing perceptions of lawn care by emphasizing responsible and resource-conscious practices. The company aims to provide guidance for maintaining outdoor spaces while being mindful of environmental factors. With approximately $3.6 billion in sales, Scotts Miracle-Gro is the world's largest marketer of branded consumer products for lawn and garden care. Its portfolio includes market-leading brands such as Scotts®, Miracle-Gro®, and Ortho®. The company's subsidiary, The Hawthorne Gardening Company, is a leading provider of materials for indoor and hydroponic growing.

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FAQ

What is the current stock price of The Scotts Miracle-Gro Company (SMG)?

The current stock price of The Scotts Miracle-Gro Company (SMG) is $75.19 as of November 20, 2024.

What is the market cap of The Scotts Miracle-Gro Company (SMG)?

The market cap of The Scotts Miracle-Gro Company (SMG) is approximately 4.3B.

What does The Scotts Miracle-Gro Company specialize in?

The Scotts Miracle-Gro Company specializes in branded consumer products for lawn and garden care, as well as indoor and hydroponic growing products.

What are some of the well-known brands under Scotts Miracle-Gro?

Some of the well-known brands include Scotts®, Miracle-Gro®, Ortho®, Tomcat®, and Roundup®.

Who are the primary retailers for Scotts Miracle-Gro products?

The primary retailers include Home Depot, Lowe's, and Walmart.

What is The Hawthorne Gardening Company?

The Hawthorne Gardening Company is a subsidiary of Scotts Miracle-Gro, providing nutrients, lighting, and other materials for indoor and hydroponic growing, including cannabis cultivation.

What recent financial achievements has Scotts Miracle-Gro reported?

Recent achievements include near-record retail shipments, mid-teens percentage growth in year-to-date POS units, and progress in debt reduction and covenant compliance.

What is the focus of The Scotts Miracle-Gro Foundation?

The foundation focuses on building healthier communities, empowering the next generation, and preserving the planet through grants and endowments.

How has Scotts Miracle-Gro responded to environmental concerns?

The company decided to remove neonics from Ortho® outdoor products to protect pollinators like honeybees, demonstrating its commitment to environmental stewardship.

Where is Scotts Miracle-Gro headquartered?

Scotts Miracle-Gro is headquartered in Marysville, Ohio.

How can investors get more information about Scotts Miracle-Gro?

Investors can visit the company's website at www.scottsmiraclegro.com or contact their investor relations department.

What is the company's approach to innovation?

Scotts Miracle-Gro continuously listens to consumer feedback to develop products that meet their needs and stays at the forefront of the gardening and lawn care industry.

The Scotts Miracle-Gro Company

NYSE:SMG

SMG Rankings

SMG Stock Data

4.27B
42.57M
24.98%
78.37%
8.85%
Agricultural Inputs
Agricultural Chemicals
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United States of America
MARYSVILLE