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.
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.
The Scotts Miracle-Gro Foundation announced recipients for its inaugural Water Stewardship Grant: The Nature Conservancy’s New York Chapter and The Everglades Foundation. The grant supports efforts to combat harmful algal blooms (HABs), which negatively impact U.S. waterways and cost the economy $2.2 billion annually. Funding will enhance septic systems on Long Island and further research for Everglades restoration. The Foundation emphasizes clean water as a priority, having previously reduced phosphorus in its products by 10,000 tons yearly.
Instead has launched a new natural lawn care brand that emphasizes simplicity and sustainability. The product range includes tailored fertilizers and grass seed mixes, all made from natural ingredients like molasses and alfalfa. Co-owned by actress Drew Barrymore, who highlights the commitment to environmental responsibility, the brand targets millennials seeking convenient, eco-friendly options. Instead's products are designed for direct delivery, reducing guesswork and packaging waste. Backed by 1868 Ventures, this initiative aims to innovate and disrupt traditional lawn care.
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The Scotts Miracle-Gro Company (NYSE: SMG) announced the pricing of $500 million in 4.000% senior notes due 2031. The offering, which has not been registered under the Securities Act, is expected to close on March 17, 2021. Proceeds will be used to reduce borrowings on the senior secured revolving credit facility. Scotts Miracle-Gro is a leading marketer of branded lawn and garden care products, boasting approximately $4.1 billion in sales. The company emphasizes this issuance as part of its strategy for financial management.
The Scotts Miracle-Gro Company (NYSE: SMG) plans to offer $500 million of senior notes due 2031 in an unregistered offering. The offering, subject to market conditions, aims to reduce borrowings under its senior secured revolving credit facility. The Senior Notes have not been registered and may not be sold without relevant exemptions. Scotts Miracle-Gro, with approximately $4.1 billion in sales, is a leading marketer of consumer lawn and garden products and operates the Hawthorne Gardening Company for indoor growing solutions.
The Scotts Miracle-Gro Company (NYSE: SMG) will host a virtual Investor & Analyst Day on April 8, 2021, starting at 9:00 a.m. ET. The event will showcase insights from the executive and leadership teams focused on U.S. Consumer and Hawthorne Gardening businesses. It will include approximately 2.5 hours of presentations followed by a live Q&A session. Interested investors can register through the company's website. With sales around $4.1 billion, Scotts Miracle-Gro is a top marketer in the lawn and garden care industry.