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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 (SMG) reported a 26% decline in third-quarter sales, totaling $1.19 billion, with significant drops in both its U.S. Consumer segment (down 14%) and Hawthorne segment (down 63%).
GAAP net loss per share reached $8.01, attributed to $724 million in impairment and restructuring charges, while non-GAAP adjusted EPS stood at $1.98.
The company lowered its full-year sales guidance for the U.S. Consumer segment to a decline of 8-9% and adjusted EPS outlook to $4.00-$4.20. They announced Project Springboard to enhance margins and improve cash flow.
The Scotts Miracle-Gro Company (NYSE: SMG) has announced a cash dividend of $0.66 per share, approved by its Board of Directors. This dividend will be payable on September 9, 2022, to shareholders of record as of August 26, 2022. With approximately $4.9 billion in sales, ScottsMiracle-Gro is a leading marketer of branded consumer lawn and garden products, featuring well-known brands like Scotts®, Miracle-Gro®, and Ortho®. The Hawthorne Gardening Company, a subsidiary, specializes in indoor and hydroponic gardening supplies.
The Scotts Miracle-Gro Company (NYSE: SMG) is set to release its third quarter financial results on August 3, 2022, before U.S. markets open. A conference call will follow at 9:00 a.m. ET to discuss the results, with participation available by calling 1-888-220-8451 (Confirmation Code: 2366358). The company reported approximately $4.9 billion in sales, making it a leader in branded consumer lawn and garden products with well-known brands like Scotts®, Miracle-Gro®, and Ortho®. The information will be accessible via their investor relations website.
The Scotts Miracle-Gro Company (NYSE: SMG) has appointed The Honorable Brian Sandoval to its Board of Directors. Sandoval, former Governor of Nevada (2011-2019) and current President of the University of Nevada, Reno, brings extensive experience in economic growth and job creation. He will serve on the Innovation and Technology Committee and the Nominating and Governance Committee. The company, with approximately $4.9 billion in sales, is a major player in the lawn and garden sector, known for brands like Scotts, Miracle-Gro, and Ortho.
The Scotts Miracle-Gro Company (NYSE: SMG) reported a surge in consumer purchases of its lawn and garden brands in May, but lowered its sales and adjusted earnings outlook for fiscal 2022. Year-to-date POS figures are down 6% in dollars and 9% in units compared to last year. Adjusted earnings per share are now projected between $4.50 and $5.00, while U.S. Consumer sales are expected to decrease by 4-6%. Additionally, Hawthorne sales are forecasted to decline by 40-45% for the year. The company is seeking to adjust debt covenants to increase leverage due to external market pressures.
The Scotts Miracle-Gro Company (NYSE: SMG) announced a 8% decrease in company-wide sales to $1.68 billion for Q2, driven by a 44% drop in Hawthorne segment sales to $202.6 million. GAAP EPS fell to $4.94 from $5.44, with non-GAAP adjusted EPS at $5.03, down from $5.64. Consumer purchases are down 12% entering May, but recent momentum suggests improvement. The acquisition of Australia-based Cyco for $34 million aims to bolster Hawthorne's nutrient offerings. Revised sales guidance indicates a likely low-end outcome of 2% year-over-year growth.
The Scotts Miracle-Gro Company (NYSE: SMG) announced a cash dividend of $0.66 per share, set to be paid on June 10, 2022, to shareholders of record as of May 27, 2022. With approximately $4.9 billion in sales, ScottsMiracle-Gro is a leading marketer of lawn and garden products, with well-known brands like Scotts®, Miracle-Gro®, and Ortho®. The Hawthorne Gardening Company, a subsidiary, specializes in indoor and hydroponic growing supplies, while The Hawthorne Collective invests in cannabis-related ventures.
The Scotts Miracle-Gro Company (NYSE SMG) will announce its second quarter financial results on May 3, 2022, before U.S. markets open. A conference call discussing these results is scheduled for 9:00 a.m. ET. Interested participants can join by calling 1-888-378-4398 using the passcode 490745. A replay will be available for 15 days via 1-888-203-1112, passcode 9718563. Scotts Miracle-Gro, with $4.9 billion in sales, is a leading marketer of branded lawn and garden consumer products, including the well-known Scotts, Miracle-Gro, and Ortho brands.
Scotts Miracle-Gro (NYSE: SMG) has lowered its full-year sales guidance for the Hawthorne segment by 15 to 25%, influenced by an oversupply of cannabis impacting both indoor and outdoor cultivation. During the Raymond James Conference, CFO Cory Miller noted a decline in sales volume and adjusted earnings per share expectations. However, optimism remains for the U.S. Consumer segment, expecting non-GAAP adjusted earnings of at least $8.00. Additionally, plans for a significant acquisition in the live goods category have been shelved as the company remains disciplined in its M&A strategy.
The Scotts Miracle-Gro Company (NYSE: SMG) will present at Raymond James & Associates’ 43rd Annual Institutional Investors Conference on March 8, 2022, at 8:40 a.m. EST. CFO Cory Miller and EVP Jim King will also participate in a virtual fireside chat at the UBS Global Consumer and Retail Conference on March 9, 2022, at 2:00 p.m. EST. Interested listeners can access live webcasts of both events via the company's investor relations website. ScottsMiracle-Gro reported approximately $4.9 billion in sales, leading the market in lawn and garden care products.
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