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The Scotts Miracle-Gro Company - SMG STOCK NEWS

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.

News

ScottsMiracle-Gro at Raymond James and UBS investor conferences in March; Fireside chats featuring Matt Garth to be available via webcast

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The Scotts Miracle-Gro Company (NYSE: SMG) will participate in fireside chats at two upcoming conferences to discuss business strategies and engage with investors. Chief Financial and Administrative Officer Matt Garth will lead the discussions at the Raymond James & Associates 45th Annual Institutional Investors Conference and the UBS Global Consumer and Retail Conference. Investors can access live webcasts of the presentations on the Company's investor relations site.
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ScottsMiracle-Gro Reports First Quarter Results

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Scotts Miracle-Gro Company (NYSE: SMG) announced its first-quarter results, with total company sales declining 22% to $410.4 million. U.S. Consumer net sales decreased by 17% to $306.7 million, and Hawthorne segment sales decreased by 39% to $80.1 million. GAAP and non-GAAP adjusted gross margin rates for the quarter were 15.2% and 13.7%, respectively. The Company reported a GAAP net loss of $80.5 million, or $1.42 per share, compared to a prior year loss of $64.7 million, or $1.17 per share. Non-GAAP adjusted loss was $82.2 million, or $1.45 per share, for the quarter. The Company reaffirms its full-year non-GAAP adjusted gross margin improvement of 250 bps and full-year non-GAAP adjusted EBITDA of $575 million.
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The Scotts Miracle-Gro Foundation and Alliance for Water Efficiency Partner to Support Water Usage Research and Education 

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The Scotts Miracle-Gro Foundation and the Alliance for Water Efficiency have extended their partnership to support research aiming to improve the efficiency of lawns and other landscapes. The two-year grant will fund environmental programs through December 2025, focusing on evaluating landscape transformation programs and creating resources to help water efficiency and conservation practitioners. The new projects aim to help households use water wisely outdoors, including the creation of a guidebook for smart practices in utility-sponsored residential landscape and irrigation programs, as well as a research project to collect and synthesize current knowledge of behavior-based strategies to help residents irrigate smarter.
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ScottsMiracle-Gro Announces Retirement of Nancy Mistretta from Board of Directors

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Scotts Miracle-Gro Company (NYSE: SMG) announced the retirement of Nancy Mistretta from its Board of Directors. Mistretta, who has been a director since 2007, served on various Board committees. The company plans to name a replacement for the open Board seat. The retirement provides an opportunity to further evaluate the skill sets, experience, and backgrounds of the Board members, aligning with the company's direction of reshaping its leadership team for the future.
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ScottsMiracle-Gro Announces Timing of First Quarter 2024 Financial Results and Webcast

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The Scotts Miracle-Gro Company (NYSE: SMG) will release its first quarter financial results on February 7, 2024, followed by a webcast and audio question-and-answer session. Participants can register in advance to watch the presentation and join the Q&A session. The replay of the conference call will be available on the Company’s investor website for at least 12 months.
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The Scotts Miracle-Gro Company Announces Quarterly Dividend Payment

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The Scotts Miracle-Gro Company (NYSE: SMG) has approved a cash dividend of $0.66 per share, payable on March 8, 2024, to shareholders of record as of February 23, 2024.
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ScottsMiracle-Gro to hold Fireside Chat with Raymond James

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The Scotts Miracle-Gro Company (SMG) will participate in a fireside chat at the 2023 Raymond James TMT and Consumer Conference in New York City. Martin Mitela of Raymond James & Associates will host the chat, with Matt Garth, SMG’s chief financial and administrative officer, participating in a question-and-answer session. The live webcast can be accessed on the Company’s investor relations site at investor.scotts.com.
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The Scotts Miracle-Gro Foundation and The National Head Start Association Partner to Bring Gardens to Children and Families

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Scotts Miracle-Gro Foundation and National Head Start Association Launch 6th Year of GroMoreGood Garden Grants, Encouraging Outdoor Learning and Healthy Eating
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ScottsMiracle-Gro Announces Fiscal 2023 Full-Year Results

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The Scotts Miracle-Gro Company reported full-year net sales of $3.55 billion, in line with guidance. Free cash flow improved by $681 million year over year, reaching $438 million. The company reaffirmed its target of $1 billion in free cash flow over two years through Fiscal 2024. Project Springboard cost savings contributed to full-year non-GAAP adjusted EBITDA of $447 million. The company reported a full-year GAAP loss per share of $6.79 and adjusted non-GAAP EPS of $1.21.
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The Scotts Miracle-Gro Company Announces Quarterly Dividend Payment

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The Scotts Miracle-Gro Company (NYSE: SMG) has announced a cash dividend of $0.66 per share. The dividend will be payable on December 8, 2023, to shareholders of record as of November 27, 2023.
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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 $76.48 as of November 21, 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.

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The Scotts Miracle-Gro Company

NYSE:SMG

SMG Rankings

#1409 Ranked by Market Cap
#874 Ranked by Dividends

SMG Stock Data

4.31B
42.57M
24.98%
78.37%
8.85%
Agricultural Inputs
Agricultural Chemicals
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United States of America
MARYSVILLE