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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.

Our selection of high-quality news articles is accompanied by an expert summary from Rhea-AI, detailing the impact and sentiment surrounding the news at the time of release, providing a deeper understanding of how each news could potentially affect The Scotts Miracle-Gro Company's stock performance. The page also features a concise end-of-day stock performance summary, highlighting the actual market reaction to each news event. The list of tags makes it easy to classify and navigate through different types of news, whether you're interested in earnings reports, stock offerings, stock splits, clinical trials, fda approvals, dividends or buybacks.

Designed with both novice traders and seasoned investors in mind, our page aims to simplify the complex world of stock market news. By combining real-time updates, Rhea-AI's analytical insights, and historical stock performance data, we provide a holistic view of The Scotts Miracle-Gro Company's position in the market.

News
ScottsMiracle-Gro Reports Second Quarter Results
Rhea-AI Summary

The Scotts Miracle-Gro Company (NYSE: SMG) reported strong second-quarter results with U.S. Consumer net sales hitting a record high of $1.38B, GAAP EPS of $2.74, and non-GAAP Adjusted EPS of $3.69. The company exceeded operating plan targets, improved gross margin, and generated strong free cash flow. Despite total sales being flat at $1.53B, the U.S. Consumer segment increased by 2%. Hawthorne segment sales declined by 28% due to strategic changes. The Company's financial position remains strong with net leverage of 6.95x, well below covenant maximum, and aims to achieve fiscal 2024 guidance.

Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-0.44%
Tags
earnings
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News
The Scotts Miracle-Gro Company Announces Quarterly Dividend Payment
Rhea-AI Summary
The Scotts Miracle-Gro Company (SMG) declares a quarterly cash dividend of $0.66 per share, payable on June 7, 2024, to shareholders of record as of May 24, 2024. The company is a top marketer of lawn and garden products globally.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
1.02%
Tags
dividends
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News
ScottsMiracle-Gro Partners with Central Ohio Beekeepers Association to Establish Apiary at Corporate Headquarters
Rhea-AI Summary
ScottsMiracle-Gro partners with Central Ohio Beekeepers Association to establish an apiary at corporate headquarters. The partnership aims to promote bees and beekeeping in Central Ohio, with Ortho® removing neonics from its outdoor products to protect honeybees and other pollinators. The collaboration seeks to raise awareness of pollinators in the community and provide educational opportunities.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
1.72%
Tags
partnership
News
ScottsMiracle-Gro Announces Timing of Second Quarter 2024 Financial Results and Webcast
Rhea-AI Summary
ScottsMiracle-Gro (SMG) will announce its second quarter 2024 financial results on May 1, 2024, with a webcast at 9:00 a.m. ET for a presentation and Q&A session. Participants can register in advance to join the webcast and receive call-in details for the Q&A session. The conference call replay will be available on the investor website for at least 12 months.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
1.72%
Tags
earnings
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News
ScottsMiracle-Gro Provides Update on Fiscal 2024 Second Quarter
Rhea-AI Summary
The Scotts Miracle-Gro Company (NYSE: SMG) expects to achieve a second-quarter net leverage ratio around 7 times adjusted EBITDA, below the first-quarter ratio of 7.75 times. The company's chairman, CEO, and president, Jim Hagedorn, highlighted the progress in financial and operating performance. Retail shipments were near record levels, with year-to-date POS units showing mid-teens percentage growth. Free cash flow exceeded expectations in the first half of the year, supporting the $1 billion free cash flow target for fiscal years '23 and '24.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-0.39%
Tags
earnings
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News
The Scotts Miracle-Gro Foundation and Doodles and Digits Partner to Bring "How It's Math" to Public Television
Rhea-AI Summary
Doodles and Digits partners with The Scotts Miracle-Gro Foundation to sponsor the television debut of 'How It's Math' program on Public Television, aiming to educate children about mathematics in various industries. The collaboration will also involve exploring math in Scotts Miracle-Gro Company's operations. This partnership seeks to inspire young learners and promote STEM education.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-3.78%
Tags
partnership
News
Hawthorne and BFG Supply Forge Strategic Distribution Partnership
Rhea-AI Summary
Hawthorne Gardening Company and BFG Supply form a strategic partnership to distribute Hawthorne's Signature brand cultivation supplies, enhancing customer service and market reach.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
3.79%
Tags
partnership
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News
The Scotts Miracle-Gro Foundation Welcomes its Fourth Class of Students to The Legacy Project
Rhea-AI Summary
The Legacy Project, a mentorship program, welcomes its largest cohort for the class of 2027, focusing on empowering youth through innovative problem-solving and goal-setting. Developed by The Scotts Miracle-Gro Foundation and The Hagedorn Legacy Foundation, the program aims to create personal freedom and social mobility for students attending Whitehall City Schools in Columbus, Ohio.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
1.7%
Tags
none
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News
ScottsMiracle-Gro at Raymond James and UBS investor conferences in March; Fireside chats featuring Matt Garth to be available via webcast
Rhea-AI Summary
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.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
3.55%
Tags
none
News
ScottsMiracle-Gro Reports First Quarter Results
Rhea-AI Summary
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.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
3.68%
Tags
earnings
Stock SMG logo
The Scotts Miracle-Gro Company

NYSE:SMG

SMG Rankings

#1371 Ranked by Market Cap
#2117 Ranked by Stock Gains
#882 Ranked by Dividends

SMG Stock Data

3.92B
42.29M
25.39%
77.48%
7.9%
Landscaping Services
Administrative and Support and Waste Management and Remediation Services
Link
United States of America
MARYSVILLE

About SMG

the scottsmiracle-gro company is passionate about helping people of all ages express themselves on their own piece of the earth. the company’s industry-leading lawn, garden and outdoor living products and services all work to make a beautiful world. our trusted brands meet our consumers unique needs – whether its products in natural and organic or solutions for indoor and urban gardening, we are constantly listening to our consumers so we can develop the products they need.