Scotts Miracle Gr Stock Price, News & Analysis

Scotts Miracle-Gro Company (NYSE: SMG) announced the appointment of Matthew Garth as executive vice president and chief financial officer, effective December 1, 2022. Garth brings over 25 years of financial experience, previously serving as CFO at Minerals Technologies and in senior roles at Alcoa. CEO Jim Hagedorn expressed confidence in Garth's ability to enhance the company's financial performance. Garth succeeds David Evans, who served as interim CFO since August 2022 and will assist Garth during the transition.

The Scotts Miracle-Gro Company (NYSE: SMG) has nominated Edith Avilés to its Board of Directors for election at the 2023 Annual Meeting of Shareholders. With over 30 years in finance, Avilés brings expertise from her current role as Managing Director at Clayton Dubilier & Rice and previous positions at Natixis, BNP Paribas, and Chase Manhattan. She will succeed Brian Finn, who is retiring after eight years on the Board. Chairman Jim Hagedorn expressed confidence that Avilés' experience in capital markets will enhance the Board's financial performance and strategies.

The Scotts Miracle-Gro Company (NYSE: SMG) announced the approval of a cash dividend of $0.66 per share, scheduled for payment on December 9, 2022. Shareholders of record as of November 28, 2022 will receive the dividend. The company, with approximately $3.9 billion in sales, is a leading marketer of branded lawn and garden products, including its renowned Scotts®, Miracle-Gro®, and Ortho® brands. ScottsMiracle-Gro also has a strong presence in the indoor and hydroponic growing market through its subsidiary, The Hawthorne Gardening Company.

The Scotts Miracle-Gro Company (NYSE: SMG) reported a challenging fourth quarter for FY 2022, with a 33% decline in sales, totaling $493.6 million. The company faced a GAAP loss of $3.97 per share, influenced by $120.9 million in impairment and restructuring charges. Despite these setbacks, it met its EPS guidance and reaffirmed a $1 billion free cash flow target for the next two years. Project Springboard 2.0 aims for an additional $85 million in savings. U.S. Consumer segment sales fell 18%, while Hawthorne segment sales declined by 49% year-over-year.

The Scotts Miracle-Gro Company (NYSE: SMG) will announce its fourth quarter 2022 financial results on November 2, 2022, before U.S. markets open. A conference call is scheduled for 9:00 a.m. ET to discuss these results. Interested participants can join by calling 1-888-317-6003, using Elite Entry Number 1441072. The press release and call will be accessible via the company's investor relations website. With around $4.9 billion in sales, ScottsMiracle-Gro is a top marketer of lawn and garden consumer products, featuring well-known brands like Scotts®, Miracle-Gro®, and Ortho®.

Scotts Miracle-Gro Company (NYSE: SMG) has appointed David Evans as interim CFO, replacing Cory Miller, who has left the company. The search for a permanent CFO is underway. The company has revised its fiscal 2022 free cash flow guidance, expecting a range from negative $275 million to negative $325 million, a notable increase from the previous estimate of negative $150 million. This change reflects a decline in accounts payable due to reduced production and purchases. The debt-to-EBITDA leverage ratio is projected to exceed 6.0 times at year-end while remaining compliant with credit facility covenants.

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.