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.
ScottsMiracle-Gro (SMG) highlights 8 unexpected benefits of growing clover in lawns. Experts emphasize clover's advantages, including:
1. Low-maintenance nature
2. Soil structure improvement
3. Drought resistance
4. Increased biodiversity
5. Nitrogen regulation
6. Cost-effectiveness
7. Support for other plants
8. Aesthetic appeal
Clover requires less mowing, water, and fertilizer than traditional turf. Its deep root system aerates soil, improves drainage, and prevents erosion. Clover attracts pollinators, fixes nitrogen naturally, and remains green during dry spells. While some view it as a weed, many landscapers recognize its benefits for soil health and overall garden vitality.
ScottsMiracle-Gro (NYSE: SMG) reported strong fiscal 2024 third quarter results, with U.S. Consumer net sales increasing 11% to $1 billion. The company saw significant improvements in gross margin rates, with GAAP gross margin at 29.5% and non-GAAP adjusted gross margin at 29.2%, up 1,110 and 790 basis points respectively year-over-year. GAAP EPS for Q3 was $2.28, while non-GAAP Adjusted EPS nearly doubled to $2.31 compared to the same quarter last year. Despite a 28% decrease in Hawthorne segment sales, the division reported its first profitable quarter since Q3 2022. The company reaffirmed its fiscal 2024 guidance, expecting continued strength in consumer engagement and profitability.
The Scotts Miracle-Gro Company (NYSE: SMG), a leading marketer of consumer lawn and garden products, has announced a quarterly cash dividend of $0.66 per share. The dividend will be paid on September 6, 2024, to shareholders of record as of August 23, 2024. Scotts Miracle-Gro, with approximately $3.6 billion in sales, is renowned for its market-leading brands including Scotts®, Miracle-Gro®, and Ortho®. The company's subsidiary, The Hawthorne Gardening Company, is a key player in the indoor and hydroponic growing segment, providing nutrients, lighting, and other essential materials.
ScottsMiracle-Gro highlights the physical and mental health benefits of gardening in a recent press release. A study published in The Lancet found that community gardening increased moderate-to-vigorous physical activity and reduced perceived stress and anxiety. Gardening provides consistent physical activity through tasks like moving soil and digging, while also offering a mental break from busy lifestyles.
The company encourages beginners to start small, even with a single tomato plant or window box. ScottsMiracle-Gro's Miracle-Gro team has partnered with Martha Stewart to create a Beginner's Guide to Gardening. With approximately $3.6 billion in sales, ScottsMiracle-Gro is the world's largest marketer of branded consumer products for lawn and garden care, featuring popular brands like Scotts, Miracle-Gro, and Ortho.
ScottsMiracle-Gro (NYSE: SMG) has announced the release of its third quarter 2024 financial results on Wednesday, July 31, 2024, before U.S. financial markets open. The company will host a video presentation via webcast at 9:00 a.m. ET, followed by an audio question-and-answer session. Interested parties can register for the webcast and Q&A session in advance.
ScottsMiracle-Gro, with approximately $3.6 billion in sales, is the world's largest marketer of branded consumer products for lawn and garden care. Its portfolio includes well-known brands such as Scotts®, Miracle-Gro®, and Ortho®. The company's subsidiary, The Hawthorne Gardening Company, is a leading provider of materials for indoor and hydroponic growing.
ScottsMiracle-Gro (NYSE: SMG) is hosting a 'Meet the Management' Investor Day, outlining its three-year plan to achieve 3% average annual growth and return to adjusted gross margin rates above 30%. The company reaffirms its fiscal year 2024 guidance, citing a 10% year-over-year POS unit growth through June.
Key strategic objectives include:
- U.S. Consumer business targeting $150 million in supply chain cost savings over three years
- Hawthorne subsidiary focusing on proprietary 'Signature' brands
- Expecting to average 3% net sales growth through innovation, pricing, and acquisitions
- Aiming for non-GAAP adjusted operating margin over 15% and adjusted EBITDA exceeding $600 million
- Projecting over $300 million annualized free cash flow after capital expenditures
ScottsMiracle-Gro (NYSE: SMG) has updated its fiscal 2024 guidance amid its peak lawn and garden season. The company now projects non-GAAP adjusted EBITDA between $530 and $540 million, reflecting a 20% year-over-year improvement, though this is a downgrade from previous guidance of $575 million. Sales in the U.S. Consumer segment are expected to grow by 5-7%, down from the previous high single-digit forecast. The company maintains its target of $1 billion in two-year free cash flow, with $560 million expected in fiscal 2024, and aims to reduce debt by $350 million. The Hawthorne segment is projected to break even or better by year-end. ScottsMiracle-Gro also anticipates a 250 basis points improvement in non-GAAP gross margin and $300 million in cost savings through the Project Springboard initiative.
ScottsMiracle-Gro (NYSE: SMG) has announced its support for the merger between RIV Capital and Cansortium, aiming to enhance its stake in the cannabis market in high-growth states like New York and Florida. This move aligns with ScottsMiracle-Gro's 2021 strategy, having invested $175 million in RIV Capital. The merger will see The Hawthorne Collective, a subsidiary of ScottsMiracle-Gro, exchange its RIV notes for non-voting exchangeable shares in Cansortium. This strategic combination is expected to bolster cannabis cultivation and retail operations, providing significant value-creation opportunities. RIV Capital has already made strides in New York's cannabis market, while Cansortium has established a strong presence in Florida, Texas, Pennsylvania, and Alabama.
The Scotts Miracle-Gro Company (NYSE: SMG) invites institutional investors, equity analysts, and financial media to its headquarters in Marysville, Ohio, for an in-person 'Meet the Management' Investor Day on July 16, 2024, from 8 a.m. to 1 p.m. ET. The event includes presentations by executive and senior leadership, showcasing near- and long-term strategic focuses and recent innovations. Attendees will participate in a Q&A session over lunch and have time for informal networking. Video recordings will be available online within the following week, archived for at least 90 days. Registration is required by June 14, 2024, via email to investor@scotts.com.
The Scotts Miracle-Gro Company (NYSE: SMG) will participate in the William Blair 44th Annual Growth Conference in Chicago on June 6, 2024.
Matt Garth, Chief Financial and Administrative Officer, will provide a business update at approximately 8:00 CT. A live webcast of the presentation will be available on the Company’s investor relations website, and an archive will be accessible for at least 90 days.
ScottsMiracle-Gro, with approximately $3.6 billion in sales, leads the market in consumer lawn and garden care products. Its notable brands include Scotts®, Miracle-Gro®, and Ortho®. The Company’s subsidiary, The Hawthorne Gardening Company, specializes in indoor and hydroponic growing products.