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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) announced a cash dividend of $0.66 per share, payable on June 9, 2023. Shareholders of record as of May 26, 2023 will be eligible for this dividend. Scotts Miracle-Gro, a leader in branded consumer lawn and garden products, reported approximately $3.9 billion in sales, with notable brands like Scotts®, Miracle-Gro®, and Ortho®. The company also focuses on indoor gardening through its subsidiary, The Hawthorne Gardening Company, providing essential products for hydroponic growing.
The Scotts Miracle-Gro Company (NYSE: SMG) will announce its second quarter financial results on May 3, 2023, before U.S. markets open. Following the release, a conference call will occur at 9:00 a.m. ET to discuss the results. Participants can register in advance to obtain dial-in details, or join via the live webcast available on the Company's investor relations website. With approximately $3.9 billion in sales, Scotts Miracle-Gro is the leading marketer of consumer lawn and garden products, featuring well-known brands such as Scotts®, Miracle-Gro®, and Ortho®. The Hawthorne Gardening Company, a subsidiary, specializes in indoor and hydroponic growing materials. For more information, visit scottsmiraclegro.com.
The Scotts Miracle-Gro Company (NYSE: SMG) announced an anticipated net leverage ratio of 6.0 for its fiscal 2023 second quarter, below the covenant limit of 6.5. This improvement is attributed to rigorous cost control and enhanced efficiencies as the company engages consumers in the lawn and garden season. The full Q2 financial results will be unveiled on May 3, 2023. CEO Jim Hagedorn expressed pride in the company's progress despite previous challenges. Additionally, Nate Baxter is set to join as executive vice president of technology & operations on April 28, bringing extensive management experience from TEL U.S. and Intel. Baxter’s addition reflects Scotts Miracle-Gro's commitment to strengthening its leadership team for strategic advancements in operations and product development.
The Scotts Miracle-Gro Foundation and KidsGardening have awarded the 2023 GroMoreGood Grassroots Grant to 160 programs aimed at enhancing youth gardening across the U.S. This initiative will connect over 27,000 youth with gardening opportunities, promoting sustainability and community impact. The awarded grants, selected based on criteria such as youth engagement, also include additional funding for 15 programs in specialty categories. The grants will significantly expand green spaces and educational opportunities for children in gardens nationwide. The awards will be distributed by the end of March 2023.
Scotts Miracle-Gro Company (NYSE: SMG) will participate in a fireside chat at the UBS 12th Annual Global Consumer and Retail Conference on March 16, 2023, in New York City. CFO Matt Garth will join Peter Grom from UBS for a moderated Q&A session at approximately 10 a.m. ET. The chat will be accessible via a live webcast on the company's investor relations site, with an archive available for 12 months. Scotts Miracle-Gro, with around $3.9 billion in sales, specializes in branded consumer lawn and garden products and operates notable brands like Scotts®, Miracle-Gro®, and Ortho®.
The Scotts Miracle-Gro Company (NYSE: SMG) will present at the Raymond James & Associates 44th Annual Institutional Investors Conference on March 6, 2023, at 9:15 a.m. ET in Orlando, Florida. CFO Matt Garth will outline current business strategies. Investors can access a live webcast of the presentation on the Company's investor relations site, with an archive available for 12 months. Scotts Miracle-Gro is a leader in branded consumer lawn and garden products, boasting approximately $3.9 billion in sales. Its well-known brands include Scotts®, Miracle-Gro®, and Ortho®.
The Scotts Miracle-Gro Company (NYSE: SMG), a leading marketer of consumer lawn and garden products, will participate in a fireside chat on February 15, 2023, from 3 p.m. to 4 p.m. EST. CFO Matt Garth and Chris Hagedorn, President of Hawthorne Gardening Company, will represent the company in this virtual event hosted by Wells Fargo analyst Chris Carey. The session will include an opening statement followed by a Q&A segment. Interested parties can access the live webcast and an archived version for up to 12 months on the company's investor website.
ScottsMiracle-Gro generated approximately $3.9 billion in sales, making it a market leader in its sector.
The Scotts Miracle-Gro Company (NYSE: SMG) reported an 8% increase in U.S. Consumer sales for Q1 2023, totaling $369 million, despite a 31% decline in the Hawthorne segment due to industry challenges, leading to a total sales drop of 7% to $526.6 million. The company incurred a GAAP loss of $1.17 per share and a non-GAAP loss of $1.02 per share. Project Springboard is expected to exceed $185 million in annualized savings, partially offsetting operational pressures. The company aims for $1 billion in free cash flow over two years and anticipates low single-digit declines in overall net sales and gross margin rate for fiscal 2023.
The Scotts Miracle-Gro Foundation and National Head Start Association have announced the winners of the 2022-23 GroMoreGood Garden Grants, awarding 10 grants to promote gardening among youth. This initiative, now in its fifth year, aims to connect children to the benefits of gardening and outdoor play. The selected recipients include various Head Start programs across the U.S. The ultimate goal is to enhance children's education and well-being through garden-based learning, thereby fostering healthier communities. The grants will support projects that provide fresh food and outdoor learning opportunities.
The Scotts Miracle-Gro Company (NYSE: SMG) has announced a cash dividend of $0.66 per share, payable on March 10, 2023. The record date for shareholders is February 24, 2023. With approximately $3.9 billion in annual sales, Scotts Miracle-Gro is a leading marketer of branded lawn and garden products, including industry giants like Scotts®, Miracle-Gro®, and Ortho®. The company also operates The Hawthorne Gardening Company, focusing on indoor and hydroponic gardening products. This dividend payout reflects the company's commitment to returning value to its shareholders.
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