Scotts Miracle Gr Stock Price, News & Analysis

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.

The Scotts Miracle-Gro Company (NYSE: SMG) reported an 8% increase in U.S. Consumer sales for Q1 2023, totaling $369 million, despite a 31% decline in the Hawthorne segment due to industry challenges, leading to a total sales drop of 7% to $526.6 million. The company incurred a GAAP loss of $1.17 per share and a non-GAAP loss of $1.02 per share. Project Springboard is expected to exceed $185 million in annualized savings, partially offsetting operational pressures. The company aims for $1 billion in free cash flow over two years and anticipates low single-digit declines in overall net sales and gross margin rate for fiscal 2023.

The Scotts Miracle-Gro Foundation and National Head Start Association have announced the winners of the 2022-23 GroMoreGood Garden Grants, awarding 10 grants to promote gardening among youth. This initiative, now in its fifth year, aims to connect children to the benefits of gardening and outdoor play. The selected recipients include various Head Start programs across the U.S. The ultimate goal is to enhance children's education and well-being through garden-based learning, thereby fostering healthier communities. The grants will support projects that provide fresh food and outdoor learning opportunities.

The Scotts Miracle-Gro Company (NYSE: SMG) has announced a cash dividend of $0.66 per share, payable on March 10, 2023. The record date for shareholders is February 24, 2023. With approximately $3.9 billion in annual sales, Scotts Miracle-Gro is a leading marketer of branded lawn and garden products, including industry giants like Scotts®, Miracle-Gro®, and Ortho®. The company also operates The Hawthorne Gardening Company, focusing on indoor and hydroponic gardening products. This dividend payout reflects the company's commitment to returning value to its shareholders.

The Scotts Miracle-Gro Company (NYSE: SMG) will announce its first-quarter financial results on February 1, 2023, before the U.S. markets open. A conference call will follow at 9:00 a.m. ET to discuss these results. The company, with approximately $3.9 billion in sales, is a leading marketer of lawn care and hydroponic products, boasting top brands such as Scotts®, Miracle-Gro®, and Ortho®. Participants in the conference call must register in advance to receive dial-in information and a unique PIN. Webcast options and a replay will also be available on the company's investor relations website.