The Scotts Miracle-Gro Company reports developments in branded consumer lawn and garden products in North America, including the Scotts®, Miracle-Gro®, Ortho® and Tomcat® brands. Company news centers on sales trends, gross margin recovery, leverage, cash generation, dividends and capital allocation, along with guidance for its core U.S. Consumer lawn and garden business.
Updates also cover product and channel initiatives, such as patio and container gardening collaborations, community gardening grants through The Scotts Miracle-Gro Foundation, and completed portfolio actions. The completed sale of The Hawthorne Gardening Company shifted the company's public updates toward its North American consumer lawn and garden franchise after Hawthorne's indoor and hydroponic gardening supplies were treated as discontinued operations.
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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.