Scotts Miracle-Gro(NYSE) SMG

The Scotts Miracle-Gro Company helps people grow lawns and gardens. Their products make outdoor spaces look better and stay healthy. They serve homeowners who want beautiful yards and productive gardens.

What Is in the Shed?

• U.S. Consumer: Lawn and garden products sold in the United States; net sales rose 2.1% year over year to $2.74 billion for the nine months ended June 27, 2026.
• Lawn Care: Fertilizer, grass seeds, and application spreaders sold under the Scotts and Turf Builder brands.
• Gardening and Landscape: Potting mixes, soils, and nutrients sold under the Miracle-Gro brand.
• Controls and Protection: Weed, pest, and rodent control products sold under the Ortho and Tomcat brands.
• Other Segment: Lawn and garden business in Canada; net sales rose 6.3% year over year to $247.7 million for the nine months ended June 27, 2026.

New Paths to Growth

• Sold the Hawthorne hydroponics business to Vireo on April 8, 2026, receiving common shares and warrants in exchange.
• Appointed Nathan E. Baxter as President and Chief Executive Officer on June 26, 2026, succeeding James Hagedorn.
• Maintained an equity interest in Bonnie Plants, LLC to sell live plants and acted as the exclusive agent for Roundup products.
• Reduced the size of the supply chain network and staffing levels to create operational and management-level efficiencies.

Efficiency in the Garden

The company distributes its products through a network of home improvement retailers, mass-market stores, and warehouse clubs. Operations rely on supply chain initiatives to improve efficiency and manage fluctuating material costs.

Financial Vital Signs

• Net sales were $2.99 billion for the nine months ended June 27, 2026, up 2.4% year over year.
• Income from operations was $549.7 million for the nine months ended June 27, 2026, up 4.6% year over year.
• Market capitalization was $4.1 billion as of the third quarter of fiscal 2026.
• The P/E ratio was 9.1 as of the third quarter of fiscal 2026.

Bottom Line

Scotts Miracle-Gro has transitioned to focus on its core lawn and garden business after divesting its hydroponics operations. The company maintains market relevance through established brands and a distribution network serving major retail channels.