The Scotts Miracle-Gro Company - SMG STOCK NEWS

The Scotts Miracle-Gro Foundation and Doodles and Digits have partnered to bring the acclaimed 'How It's Math' program to Public Television, set to premiere in April 2024 for Mathematical Awareness Month. The show aims to explore mathematics in various careers and industries, with a special collaboration featuring ScottsMiracle-Gro's use of math in creating lawn and garden products.

This partnership expands the reach of Doodles and Digits' educational content, inspiring young learners to explore mathematics and the natural world. The television debut will be complemented by behind-the-scenes looks at ScottsMiracle-Gro's STEM work, showcasing the practical applications of math in industry.

ScottsMiracle-Gro (SMG) highlights 8 unexpected benefits of growing clover in lawns. Experts emphasize clover's advantages, including:

1. Low-maintenance nature
2. Soil structure improvement
3. Drought resistance
4. Increased biodiversity
5. Nitrogen regulation
6. Cost-effectiveness
7. Support for other plants
8. Aesthetic appeal

Clover requires less mowing, water, and fertilizer than traditional turf. Its deep root system aerates soil, improves drainage, and prevents erosion. Clover attracts pollinators, fixes nitrogen naturally, and remains green during dry spells. While some view it as a weed, many landscapers recognize its benefits for soil health and overall garden vitality.

ScottsMiracle-Gro (NYSE: SMG) reported strong fiscal 2024 third quarter results, with U.S. Consumer net sales increasing 11% to $1 billion. The company saw significant improvements in gross margin rates, with GAAP gross margin at 29.5% and non-GAAP adjusted gross margin at 29.2%, up 1,110 and 790 basis points respectively year-over-year. GAAP EPS for Q3 was $2.28, while non-GAAP Adjusted EPS nearly doubled to $2.31 compared to the same quarter last year. Despite a 28% decrease in Hawthorne segment sales, the division reported its first profitable quarter since Q3 2022. The company reaffirmed its fiscal 2024 guidance, expecting continued strength in consumer engagement and profitability.

The Scotts Miracle-Gro Company (NYSE: SMG), a leading marketer of consumer lawn and garden products, has announced a quarterly cash dividend of $0.66 per share. The dividend will be paid on September 6, 2024, to shareholders of record as of August 23, 2024. Scotts Miracle-Gro, with approximately $3.6 billion in sales, is renowned for its market-leading brands including Scotts®, Miracle-Gro®, and Ortho®. The company's subsidiary, The Hawthorne Gardening Company, is a key player in the indoor and hydroponic growing segment, providing nutrients, lighting, and other essential materials.

ScottsMiracle-Gro highlights the physical and mental health benefits of gardening in a recent press release. A study published in The Lancet found that community gardening increased moderate-to-vigorous physical activity and reduced perceived stress and anxiety. Gardening provides consistent physical activity through tasks like moving soil and digging, while also offering a mental break from busy lifestyles.

The company encourages beginners to start small, even with a single tomato plant or window box. ScottsMiracle-Gro's Miracle-Gro team has partnered with Martha Stewart to create a Beginner's Guide to Gardening. With approximately $3.6 billion in sales, ScottsMiracle-Gro is the world's largest marketer of branded consumer products for lawn and garden care, featuring popular brands like Scotts, Miracle-Gro, and Ortho.

ScottsMiracle-Gro (NYSE: SMG) has announced the release of its third quarter 2024 financial results on Wednesday, July 31, 2024, before U.S. financial markets open. The company will host a video presentation via webcast at 9:00 a.m. ET, followed by an audio question-and-answer session. Interested parties can register for the webcast and Q&A session in advance.

ScottsMiracle-Gro, with approximately $3.6 billion in sales, is the world's largest marketer of branded consumer products for lawn and garden care. Its portfolio includes well-known 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.

ScottsMiracle-Gro (NYSE: SMG) is hosting a 'Meet the Management' Investor Day, outlining its three-year plan to achieve 3% average annual growth and return to adjusted gross margin rates above 30%. The company reaffirms its fiscal year 2024 guidance, citing a 10% year-over-year POS unit growth through June.

Key strategic objectives include:

• U.S. Consumer business targeting $150 million in supply chain cost savings over three years
• Hawthorne subsidiary focusing on proprietary 'Signature' brands
• Expecting to average 3% net sales growth through innovation, pricing, and acquisitions
• Aiming for non-GAAP adjusted operating margin over 15% and adjusted EBITDA exceeding $600 million
• Projecting over $300 million annualized free cash flow after capital expenditures

ScottsMiracle-Gro (NYSE: SMG) has updated its fiscal 2024 guidance amid its peak lawn and garden season. The company now projects non-GAAP adjusted EBITDA between $530 and $540 million, reflecting a 20% year-over-year improvement, though this is a downgrade from previous guidance of $575 million. Sales in the U.S. Consumer segment are expected to grow by 5-7%, down from the previous high single-digit forecast. The company maintains its target of $1 billion in two-year free cash flow, with $560 million expected in fiscal 2024, and aims to reduce debt by $350 million. The Hawthorne segment is projected to break even or better by year-end. ScottsMiracle-Gro also anticipates a 250 basis points improvement in non-GAAP gross margin and $300 million in cost savings through the Project Springboard initiative.

ScottsMiracle-Gro (NYSE: SMG) has announced its support for the merger between RIV Capital and Cansortium, aiming to enhance its stake in the cannabis market in high-growth states like New York and Florida. This move aligns with ScottsMiracle-Gro's 2021 strategy, having invested $175 million in RIV Capital. The merger will see The Hawthorne Collective, a subsidiary of ScottsMiracle-Gro, exchange its RIV notes for non-voting exchangeable shares in Cansortium. This strategic combination is expected to bolster cannabis cultivation and retail operations, providing significant value-creation opportunities. RIV Capital has already made strides in New York's cannabis market, while Cansortium has established a strong presence in Florida, Texas, Pennsylvania, and Alabama.