Scotts Miracle-Gro

Scotts Miracle-Gro Co. engages in the manufacturing, marketing, and sale of products for lawn and garden care and indoor and hydroponic gardening. Its products and services include lawn care, gardening and landscape, hydroponic hardware and growing environments, lighting, controls, and marketing agreement. It operates through the following segments: U.S. Consumer, Hawthorne, and Other. The U.S. Consumer and Other segments manufacture and market branded consumer lawn and garden products. The U.S. Consumer segment consists of consumer lawn and garden business in the United States. The Hawthorne segment manufactures, markets, and distributes lighting, nutrients, growing media, growing environments, and hardware products for indoor and hydroponic gardening in North America. The company was founded by Orlando McLean Scott in 1868 and is headquartered in Marysville, OH.

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Scotts Miracle-Gro exceeds Q1 sales goal, eyes cannabis growth

Scotts Miracle-Gro (SMG) reported strong Q1 performance, exceeding sales goals and achieving profitability milestones.
Despite challenges in the Hawthorne segment, the company remains optimistic about growth opportunities in the cannabis sector.
Commitment to disciplined growth strategies, pricing strength, and leveraging free cash flow for debt repayment and potential reinvestment.
Focus on consumer engagement, market recovery, and maintaining liquidity to drive future success.

Scotts Miracle-Gro reports strong Q2 performance amidst industry challenges

Scotts Miracle-Gro (SMG) reported strong Q2 performance in the US Consumer business, with cost reductions and efficiency gains contributing to improved free cash flow.
While facing challenges in the Hawthorne segment, the company remains focused on reaching breakeven and aligning with the cannabis market's realities for improved performance.
Opportunities lie in positive industry developments, potential pricing adjustments, strategic partnerships in the cannabis market, and value creation initiatives.
Despite margin hindrances, Scotts Miracle-Gro (SMG) is optimistic about the season's progress and committed to growth strategies and profitability through innovation and partnerships.

Scotts Miracle-Gro faces challenges but eyes growth opportunities in 2024

Scotts Miracle-Gro faced challenges in meeting its targets but saw growth in consumer retail sales, with a focus on debt reduction and maintaining dividend payments.
The company is on track with its debt reduction plan, aiming for $1 billion over 2 years, and is exploring opportunities for margin accretion and partnerships for future growth.
Despite short-term financial challenges, Scotts Miracle-Gro is implementing cost-saving measures, focusing on broadening retailer relationships, and anticipating a return to $600 million EBITDA next year.
The Hawthorne business is stabilizing, aiming for profitability, exploring partnerships, and considering strategic actions to address industry challenges, while maintaining a commitment to debt reduction.

Scotts Miracle-Gro reports fiscal '23 improvements, eyes growth in '24

Scotts Miracle-Gro's fiscal '23 performance showcased financial discipline and operational improvements despite sales challenges, setting the stage for growth in fiscal '24.
The company's focus on core consumer, marketing, innovation, and strategic solutions positions it well to capitalize on opportunities for revenue growth and margin enhancement.
While facing challenges such as sales declines and margin pressures, Scotts Miracle-Gro's strategic outlook for fiscal '24 emphasizes growth, profitability, and operational efficiency.
By addressing concerns, leveraging data analytics, and enhancing marketing efforts, Scotts Miracle-Gro aims to drive performance and shareholder value in the upcoming year.

Scotts Miracle-Gro reports strong Q1 results, focuses on profitability

Scotts Miracle-Gro's Q1 performance reflects positive growth and margin improvement strategies.
The company is focused on profitability, leveraging strengths in North America and retail partnerships.
Challenges include managing leverage, transitioning Hawthorne to profitability, and SG&A adjustments.
Opportunities lie in volume growth, partnerships, and sustainable reinvestment for future growth.

Scotts Miracle-Gro surpasses financial targets and navigates industry challenges

Scotts Miracle-Gro delivered strong financial performance, exceeding targets and showcasing growth in consumer business. The focus on proprietary brands, partnerships, and cost optimization reflects a commitment to long-term success.
Challenges include pending deals, achieving profitability in Hawthorne, and navigating the evolving cannabis industry landscape. Opportunities in advertising, strategic partnerships, and cost optimization pave the way for future growth.
Overall, Scotts Miracle-Gro's Q2 earnings call highlighted solid performance, strategic initiatives, and a positive outlook for future sales growth. Management's focus on financial metrics, consumer engagement, and profitability sets a strong foundation for continued success.

Scotts Miracle-Gro reports strong Q3 performance and strategic growth focus

Scotts Miracle-Gro delivered a robust performance in Q3 2024, showcasing growth in net sales, profitability, and market share across its key divisions, driven by strategic initiatives and operational efficiencies.
While facing challenges related to increased SG&A expenses and market dynamics, the company's focus on debt reduction, margin improvement, and financial discipline positions it well for long-term success and sustainable growth.
With opportunities to capitalize on its strong market position, drive innovation, and optimize pricing strategies, Scotts Miracle-Gro is poised to navigate challenges and leverage growth prospects for enhanced shareholder value.

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MARYSVILLE, Ohio, July 14, 2023 (GLOBE NEWSWIRE) -- The Scotts Miracle-Gro Company (NYSE: SMG), the world's leading marketer of branded consumer lawn and garden as well as indoor and hydroponic growing products, today announced that Mark D. Kingdon has been named to its Board of Directors.

ScottsMiracle-Gro Announces Appointment of Mark D. Kingdon to Board of Directors

Scotts Miracle-Gro SMG, +6.45% stock was up by nearly 7% on Tuesday after Truist analyst Bill Chappell upgraded the lawn-products maker to buy from hold and raised his price target to $80 a share from $65. However, Chappell reduced his fiscal 2023 earnings estimate for Scotts Miracle-Gro to $2.45 a share from $2.50 a share and reduced his 2024 earnings view to $2.80 a share from $3.30 a share.

Scotts Miracle-Gro stock rises on Truist upgrade to buy

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Invigorated efforts aimed at protecting North American water resources and championing the physical, emotional, and environmental benefits of living landscapes Invigorated efforts aimed at protecting North American water resources and championing the physical, emotional, and environmental benefits of living landscapes

ScottsMiracle-Gro Launches #ThinkWaterPositive Initiative to Mitigate Water Quantity and Quality Challenges

SMG's Q2 fiscal 2023 sales decreased by 9% to $1.53 billion, with the US consumer segment dropping 2% in sales and Hawthorne segment sales decreasing by 54% to $93 million. The company is undergoing a restructuring initiative, including reducing supply chain networks and staffing levels, with an expected annualized savings of at least $200 million by the end of fiscal 2023. SMG's fiscal 2023 outlook includes a near 100 basis points decline in gross margin rate, mid-single-digit percentage decline in adjusted operating income, and low-single-digit percentage decline in adjusted EBITDA.

The Scotts Miracle-Gro Company Has Shown Some Resilience

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The Q2 top line of Scotts Miracle (SMG) declines primarily due to weakness in the hydroponic industry, resulting in lower sales of the Hawthorne segment.

Scotts Miracle-Gro (SMG) Q2 Earnings Beat Estimates, Sales Lag

Scotts Miracle-Gro Co.'s stock SMG rose 3.7% in premarket trades on Monday after JPMorgan Chase upgraded the stock to overweight from neutral, partly on lower commodity costs for the fertilizer maker, while keeping its price target at $80 a share. “As a base case, its raw material pressure has come to an end, and the company is poised to receive significant raw material benefits,” analysts said.

Scotts Miracle-Gro stock rises as JPMorgan upgrades stock to overweight from neutral

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The Scotts Miracle-Gro Company (NYSE:SMG ) Q2 2023 Earnings Conference Call May 3, 2023 9:00 AM ET Company Participants Aimee DeLuca - Senior Vice President, Investor Relations Jim Hagedorn - Chairman and CEO Matt Garth - Chief Financial Officer Mike Lukemire - President and COO Chris Hagedorn - Division President, Hawthorne Patti Ziegler - Vice President, Global Marketing and Communications Conference Call Participants Chris Carey - Wells Fargo Andrew Carter - Stifel Joe Altobello - Raymond James Bill Chappell - Truist Securities Eric Bosshard - Cleveland Research William Reuter - Bank of America Operator Good morning, and welcome to The Scotts Miracle-Gro Company's Q2 2023 Earnings Conference Call. At this time, all participants are in a listen-only mode.

The Scotts Miracle-Gro Company (SMG) Q2 2023 Earnings Call Transcript

Scotts Miracle-Gro (SMG) came out with quarterly earnings of $3.78 per share, beating the Zacks Consensus Estimate of $3.20 per share. This compares to earnings of $5.03 per share a year ago.

Scotts Miracle-Gro (SMG) Surpasses Q2 Earnings Estimates

Scotts Miracle-Gro Co. SMG said Wednesday its fiscal second-quarter profit dropped by 60% to $109.4 million, or $1.94 a share, from $276.5 million, or $4.94 a share, in the year-ago quarter. Adjusted profit in the latest quarter totaled $3.78 a share, ahead of the analyst estimate of $3.47 a share, according to data from FactSet.

Scotts Miracle-Gro profit falls 60% but beats estimates, as revenue falls short

U.S. Consumer First Half Sales of $1.73B in Line with Record Prior Two Years Fiscal 2Q23 GAAP EPS of $1.94; non-GAAP Adjusted EPS of $3.78 Net Leverage Ratio within Covenant at 6.0X Project Springboard to Deliver Annualized Savings Over $200 million Updated Full Year Outlook to be Provided in June MARYSVILLE, Ohio, May 03, 2023 (GLOBE NEWSWIRE) -- The Scotts Miracle-Gro Company (NYSE: SMG), the world's leading marketer of branded consumer lawn and garden as well as indoor and hydroponic growing products, today announced results for its fiscal second quarter ended April 1, 2023. “Fiscal 2023 is a testament to the powerful franchise of our core lawn and garden business,” said Jim Hagedorn, chairman and CEO.

ScottsMiracle-Gro Reports Fiscal 2023 Second Quarter Results

Scotts (SMG) doesn't possess the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.

Earnings Preview: Scotts Miracle-Gro (SMG) Q2 Earnings Expected to Decline

MARYSVILLE, Ohio, April 19, 2023 (GLOBE NEWSWIRE) -- The Scotts Miracle-Gro Company (NYSE: SMG), the world's leading marketer of branded consumer lawn and garden as well as indoor and hydroponic growing products, will release its second quarter financial results on Wednesday, May 3, 2023, prior to the opening of the U.S. financial markets. The Company will host a conference call to discuss those results at 9:00 a.m. ET.

ScottsMiracle-Gro Announces Timing of Second Quarter 2023 Financial Results and Conference Call

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