SCOTTS MIRACLE-GRO (SMG) Company Report

Scotts Miracle-Gro (SMG) reported its U.S. consumer business achieved a combined cumulative sales growth of 6%-7% over fiscal 2024 and 2025, averaging 3%-3.5% annually, with retailer inventories now healthy. The company aims for at least 3% annual sales growth, driven by innovation, retailer partnerships, pricing, and E-commerce.
The company is targeting a return to 35% gross margin or higher, up from 31% at the end of 2025 and a guided 32% for 2026. This improvement is expected through 1% annual pricing, 1% annual cost savings from supply chain efficiencies and automation, and innovation.
E-commerce sales now represent about 10% of SMG's POS sales, growing at double digits, with Amazon accounting for approximately half of online sales. The company is also shifting focus from low-margin commodity products to branded products, anticipating mid-single digit branded growth in 2026.
SMG gained four points of market share in fiscal 2024, netting a point this year, while private label market share remained flat at about 15%. Future growth plans include tuck-in acquisitions of $100 million or less that are EPS accretive and leverage neutral.

2 hours ago

Scotts Miracle-Gro Outlines Growth and Margin Recovery Strategy

SMG

Guidance Update

New Projects/Investments

Revenue Acceleration/Inflection

M&A

Scotts Miracle-Gro's U.S. consumer business experienced volatility in fiscal years 2024 and 2025, with a combined cumulative growth of 6%-7% over those two years, averaging 3%-3.5% annually. The company projects at least 3% annual sales growth moving forward, with retailer inventories now healthy.
The company aims to restore gross margins to 35% or higher, having reached 31% at the end of 2025 and guiding to 32%, through a strategy focusing on 1% annual pricing and 1% annual cost savings.
Growth will be fueled by mid-single digit branded growth in 2026, a shift away from low-margin commodity products, and double-digit e-commerce growth which currently accounts for 10% of POS sales.
SMG gained four points of market share in fiscal year 2024 and plans for small, EPS-accretive tuck-in acquisitions under $100 million.

3 hours ago

Scotts Miracle-Gro Outlines U.S. Consumer Business Growth and Gross Margin Recovery Strategy

SMG

Guidance Update

New Projects/Investments

M&A

Scotts Miracle-Gro (SMG) anticipates annual sales growth of at least 3% for its U.S. consumer business, projecting 1% annual pricing and 2% volume growth driven by innovation and e-commerce.
The company aims to increase gross margins from 31% at the end of fiscal 2025 (guided to 32%) back to the mid-30s, through annual pricing, cost savings, and investments in automation and robotics.
E-commerce sales currently account for approximately 10% of POS sales and are experiencing double-digit growth, with Amazon representing about half of these online sales.
SMG gained four points of market share in fiscal year 2024 and is strategically shifting focus from low-margin commodity products to higher-margin branded offerings.

5 hours ago

Scotts Miracle-Gro Reports Strong Q4 2025 Results and Issues Positive FY26 Guidance

SMG

Earnings

Guidance Update

Share Buyback

Scotts Miracle-Gro (SMG) reported strong fiscal year 2025 results, with non-GAAP adjusted earnings per diluted share of $3.74 and adjusted EBITDA of $581 million, exceeding guidance. The company also generated $274 million in free cash flow, reducing its net debt to adjusted EBITDA leverage ratio to 4.1x.
For fiscal year 2026, SMG expects low single-digit growth in U.S. Consumer net sales, a non-GAAP adjusted gross margin rate of at least 32%, and non-GAAP adjusted earnings per share between $4.15 and $4.35. The company anticipates mid-single digit growth in adjusted EBITDA, $275 million in free cash flow, and a leverage ratio in the high 3x range.
The company plans to implement a multiyear share buyback program in fiscal year 2026, with a potential size of $500 million to $1 billion, and expects to close a new credit facility on better terms later in November.
Strategic initiatives include a shift towards higher-margin branded products by de-emphasizing commodities, significant e-commerce expansion with over a 50% increase in POS units in FY25, and continued focus on supply chain savings, having achieved over $100 million in FY25.

Nov 5, 2025, 2:00 PM

Scotts Miracle-Gro Reports Q4 and Full Year 2025 Results and Provides Fiscal 2026 Guidance

SMG

Earnings

Guidance Update

Scotts Miracle-Gro met or exceeded all financial guidance for fiscal year 2025.
For fiscal year 2025, Non-GAAP adjusted EBITDA grew 14% to $581 million and Non-GAAP adjusted EPS increased 63% to $3.74 per share. The company also generated $274 million in free cash flow and reduced debt by $120 million, lowering the leverage ratio to 4.1x.
The company provided fiscal year 2026 guidance, projecting Adjusted EPS between $4.15 and $4.35 per share, an Adjusted Gross Margin Rate of at least 32%, and mid single-digit growth in Adjusted EBITDA.
Mid-range strategic goals (end of FY27) include 3 percent annual net sales growth, achieving a mid-30s percent gross margin rate, and a leverage ratio below 3.5x adjusted EBITDA.

Nov 5, 2025, 2:00 PM

Scotts Miracle-Gro Reports Strong Fiscal 2025 Results and Provides Fiscal 2026 Guidance

SMG

Earnings

Guidance Update

Scotts Miracle-Gro reported strong fiscal 2025 full-year results, with non-GAAP adjusted earnings of $3.74 per share and non-GAAP Adjusted EBITDA of $581 million.
The company achieved a non-GAAP adjusted gross margin rate of 31.2%, an improvement of 490 basis points over the prior year, and generated $274 million in free cash flow.
For fiscal 2026, Scotts Miracle-Gro expects non-GAAP adjusted earnings per share of $4.15 to $4.35, a non-GAAP adjusted gross margin of at least 32%, and $275 million in free cash flow.
The company also reduced its net leverage to 4.10x in fiscal 2025, an improvement of 0.76x versus last year, and aims to drive it down to the high 3s in fiscal 2026.