Welcome to our dedicated page for Scotts Miracle Gr news (Ticker: SMG), a resource for investors and traders seeking the latest updates and insights on Scotts Miracle Gr stock.
The Scotts Miracle-Gro Company (NYSE: SMG) generates a steady flow of news related to its position in branded consumer lawn and garden products and its participation in indoor and hydroponic growing. Company news releases describe ScottsMiracle-Gro as the world’s largest marketer of branded consumer products for lawn and garden care and a leader in indoor and hydroponic growing through its Hawthorne segment.
On this page, readers can follow announcements on topics such as quarterly and full‑year financial results, dividend declarations and updates to fiscal guidance. Recent releases have highlighted gross margin trends, earnings per share performance, free cash flow, leverage metrics and reaffirmed outlooks for the U.S. Consumer segment and consolidated results.
ScottsMiracle-Gro also issues news about its capital allocation and financing, including changes to credit agreements and receivables facilities, as well as corporate governance developments like board appointments and executive compensation practices. The company’s communications frequently discuss its GroMoreGood purpose and Corporate Responsibility initiatives, including recyclable packaging, waste reduction, water conservation and partnerships with environmental nonprofits.
Another recurring theme in the company’s news is its role in indoor and hydroponic growing through The Hawthorne Gardening Company. Releases have addressed how cannabis policy developments and capital spending by legal cannabis operators may affect Hawthorne’s growth prospects and the company’s strategy to combine Hawthorne with a cannabis‑dedicated company.
Brand and community news, such as the long‑term partnership with the Columbus Crew and stadium naming rights for ScottsMiracle-Gro Field, also feature in the company’s updates. Investors, analysts and consumers can use this news feed to review the company’s public statements on financial performance, strategy, sustainability efforts and brand partnerships over time.
The Hawthorne Collective, a subsidiary of Scotts Miracle-Gro (NYSE: SMG), is set to invest $150 million in Toronto-based RIV Capital (TSX: RIV), a cannabis investment firm. This investment, structured as a six-year convertible note with an interest rate of 2.03% for the first two years, will enable Scotts to own approximately 42% of RIV Capital upon conversion. This strategic move aims to explore growth opportunities in the cannabis industry as legal conditions evolve. The investment is projected to close in Q4 2021.
The Scotts Miracle-Gro Company (NYSE: SMG) reported an 8% growth in third-quarter sales, reaching $1.61 billion, driven by a 48% increase in the Hawthorne segment. U.S. Consumer segment sales declined 4% to $1.05 billion. Despite a decline in gross margin due to rising distribution costs, GAAP EPS rose 12% to $4.00. The company reaffirmed its full-year sales growth guidance of 17% to 19%, expecting adjusted EPS between $9.00 and $9.30. Notably, Scotts announced the acquisition of HydroLogic for $65 million, projected to add approximately $20 million in annual sales, enhancing the Hawthorne portfolio.
The Scotts Miracle-Gro Company (NYSE: SMG) announced the appointment of Gerald (Jerry) Volas to its Board of Directors. Volas, who previously served as CEO of TopBuild Corp., brings extensive operational and financial expertise. His role will enhance the Board's capabilities in driving shareholder value. Volas is a Certified Public Accountant with a Bachelor of Business Administration from the University of Michigan. He will participate in the Audit and Finance Committees, with his term expiring in 2023.
The Scotts Miracle-Gro Company (NYSE: SMG) has announced a quarterly dividend increase to $0.66 per share. The fourth quarter dividend will be payable on September 10, 2021, to shareholders of record by August 27, 2021. With approximately $4.1 billion in sales, Scotts Miracle-Gro is a leading marketer in the lawn and garden product industry, known for its brands like Scotts®, Miracle-Gro®, and Ortho®. The company also operates The Hawthorne Gardening Company, focused on indoor and hydroponic growing solutions.
The Scotts Miracle-Gro Company (NYSE SMG) will report its third quarter financial results on August 4, 2021, before U.S. markets open. A conference call is scheduled for 9:00 a.m. ET to discuss the results. Interested participants can join by calling 866-337-5532 (Conference Code: 2106695) or listen to the replay at 888-203-1112 for 15 days post-call. With approximately $4.1 billion in sales, Scotts is a global leader in branded lawn and garden products, featuring top brands like Scotts®, Miracle-Gro®, and Ortho®.
Miracle-Gro has launched the GroMoreGood Harvest Donation Bag, part of its partnership with No Kid Hungry. Each bag purchased can provide up to 20 meals for children in need. This initiative aims to combat childhood hunger exacerbated by the pandemic, with a goal to connect 10 million children to gardens and greenspaces by 2023. The bag features artwork from a student contest winner, promoting community sharing of excess garden produce. Miracle-Gro will donate $2 for every bag sold until September 30, 2021.
The Scotts Miracle-Gro Company (NYSE: SMG) has raised its fiscal 2021 sales growth forecast to 17-19%, driven by strong performance in both the U.S. Consumer segment and Hawthorne business, which is now projected to grow 40-45%.
Adjusted non-GAAP EPS is now estimated at $9.00 to $9.30, up from prior guidance of $8.60 to $9.00. Consumer purchases of lawn and garden products have risen 10% year-to-date, showcasing robust engagement and retail activity.
The Scotts Miracle-Gro Company (NYSE: SMG) is collaborating with Bayer to secure the future of glyphosate-containing Roundup™ products. CEO Jim Hagedorn expressed optimism about alternative solutions while reaffirming the company’s commitment to marketing Roundup. ScottsMiracle-Gro has launched non-glyphosate options through its Ortho® GroundClear® brand, catering to consumer demands and enhancing its market position. With approximately $4.1 billion in sales, the company remains a leader in the consumer lawn and garden industry, though it acknowledges potential risks affecting its operations and future performance.
The Scotts Miracle-Gro Company (NYSE SMG) will participate in William Blair & Company’s 41st Annual Growth Stock Conference on June 2, 2021, at 9:40 a.m. (ET). Interim CFO Cory Miller and Executive VP Jim King will present a virtual fireside chat to discuss recent business trends and long-term strategies. The live webcast will be accessible on the Company's investor relations website, with an archive available for 30 days. ScottsMiracle-Gro, with around $4.1 billion in sales, is a leader in consumer lawn and garden products, recognized for brands like Scotts®, Miracle-Gro®, and Ortho®.
The Scotts Miracle-Gro Company (NYSE: SMG) reported a 32% increase in sales for Q2 2021, totaling $1.83 billion, driven by strong growth in both U.S. Consumer and Hawthorne segments. U.S. Consumer sales rose 23% to $1.37 billion, while Hawthorne's sales surged 66% to $363.8 million. GAAP EPS increased to $5.44 from $4.43 year-over-year. The company projects Hawthorne sales growth at 30-40% for the fiscal year, amid ongoing pricing adjustments to counteract commodity cost pressures.