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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.
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.
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The Scotts Miracle-Gro Company (NYSE: SMG) has announced a cash dividend of $0.62 per share, approved by its Board of Directors. This dividend is set to be paid on June 10, 2021, to shareholders of record by May 27, 2021. Scotts Miracle-Gro is a leading marketer of branded lawn and garden products, with approximately $4.1 billion in sales. Its prominent brands include Scotts®, Miracle-Gro®, and Ortho®.
The Scotts Miracle-Gro Company (NYSE SMG) will report its second quarter financial results on May 5, 2021, before U.S. market opening. A conference call is scheduled for 9:00 a.m. ET, with dial-in details provided. The Company, a leading marketer of consumer lawn and garden products with around $4.1 billion in sales, will also offer a live webcast of the call. Notable brands include Scotts®, Miracle-Gro®, and Ortho®. For more information, visit their investor relations website.
Scotts Miracle-Gro Company (SMG) has raised its fiscal 2021 sales and earnings outlook. The U.S. Consumer segment is now expected to grow 4-6% compared to a previous forecast of flat to -5%. The Hawthorne segment anticipates a growth of 20-30%. Overall, company-wide sales growth is expected to range from 8-12%, increased from 1-6%. Adjusted earnings per share are forecasted at $8.60-$9.00, up from $8.00-$8.40. However, free cash flow expectations have decreased to $250 million from $325 million due to rising capital expenditures.
The Scotts Miracle-Gro Company (NYSE: SMG) will host a virtual Investor & Analyst Day on April 8, 2021, at 9:00 a.m. ET. The event aims to provide insights into the Company's strategies for its Hawthorne Gardening Company and U.S. Consumer businesses, featuring presentations from its executive team followed by a live Q&A session. Interested investors can register for the event to participate and submit questions. Scotts Miracle-Gro recorded approximately $4.1 billion in sales, holding market-leading brands like Scotts®, Miracle-Gro®, and Ortho®.
The Scotts Miracle-Gro Company (NYSE: SMG) will host a virtual Investor & Analyst Day on April 8, 2021, at 9:00 a.m. ET. This event aims to provide insights into the Company's strategies, particularly focusing on the Hawthorne Gardening Company and U.S. Consumer businesses. The agenda includes approximately 2.5 hours of presentations followed by a live Q&A session. Interested investors and analysts are encouraged to register soon. Scotts Miracle-Gro reported approximately $4.1 billion in sales, with leading brands like Scotts®, Miracle-Gro®, and Ortho®.
Scotts® has launched Turf Builder® Long Island Lawn Food, a new lawn fertilizer designed to enhance local water quality. This product features 50% slow-release nitrogen and reduces nitrogen content by 20%, aligning with the Long Island Nitrogen Action Plan. All profits from sales will be reinvested in local water protection efforts for the next three years. The initiative includes educational outreach programs and partnerships with environmental organizations to combat nitrogen pollution, a significant threat to Long Island's water supply.