MARYSVILLE, Ohio, Nov. 05, 2024 (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 Rob Candelino has been named to its Board of Directors. Candelino is CEO of PetSafe Brands, the world’s leading pet-technology and services company. He also serves on its Board of Directors. Prior to joining PetSafe, Candelino spent 25 years with Unilever in a variety of roles a ...

SAN DIEGO, Sept. 30, 2024 /PRNewswire/ -- The Shareholders Foundation, Inc. announces that a lawsuit was filed by aNYSE: SMG investor against certain directors of Scotts Miracle-Gro Company. Investors who purchased shares of The Scotts Miracle-Gro Company (NYSE: SMG) prior to November 2021 and continue to hold any of thoseNYSE: SMG shares have certain options and should contact the Shareholders Foundation at [email protected] or call +1(858) 779 - 1554. In June 2024, a lawsuit was filed against The Scotts M ...

Small deep value individual investor, with a modest private investment portfolio, split approx. 50%-50% between shares and call options. I have a B.Sc. in aeronautical engineering and over 6 years of experience as an engineering consultant in the aerospace sector. The latter statement is not relevant in any way whatsoever to my investment style, but I thought to add it for self-indulgent purposes. I have a contrarian investment style, highly risky, and often dealing with illiquid options. How illiquid? Well ...

NEW YORK, Aug. 08, 2024 (GLOBE NEWSWIRE) -- Bragar Eagel & Squire, P.C., a nationally recognized shareholder rights law firm, is investigating potential claims against The Scotts Miracle-Gro Company (NYSE: SMG) on behalf of long-term stockholders following a class action complaint that was filed against Scotts on June 6, 2024 with a Class Period from June 2, 2021 to August 1, 2023. Our investigation concerns whether the board of directors of Scotts have breached their fiduciary duties to the company. Scotts ...

Taking full advantage of the stock market and investing with confidence are common goals for new and old investors, and Zacks Premium offers many different ways to do both. The popular research service can help you become a smarter, more self-assured investor, giving you access to daily updates of the Zacks Rank and Zacks Industry Rank, the Zacks #1 Rank List, Equity Research reports, and Premium stock screens. Zacks Premium also includes the Zacks Style Scores. What are the Zacks Style Scores? Developed al ...

NEW YORK, Aug. 5, 2024 /PRNewswire/ -- The Gross Law Firm issues the following notice to shareholders of The Scotts Miracle-Gro Company (NYSE: SMG). Shareholders who purchased shares of SMG during the class period listed are encouraged to contact the firm regarding possible lead plaintiff appointment. Appointment as lead plaintiff is not required to partake in any recovery. CONTACT US HERE: https://securitiesclasslaw.com/securities/the-scotts-miracle-gro-company-loss-submission-form/? id=93536&from=4 CLASS ...

Shares of the lawn care specialist got a boost after a better-than-expected earnings report. Shares of Scotts Miracle-Gro (SMG -3.63%) were moving higher this week after the lawn care specialist posted a better-than-expected profit in its fiscal third-quarter earnings report earlier this week, showing the company's turnaround is on track. As a result, the stock was up 6.5% as of Thursday's close, according to data from S&P Global Market Intelligence. Scotts is on the mend After a post-pandemic collapse in t ...

Core Viewpoint - Scotts Miracle-Gro Company (SMG) reported significant profit growth in Q3 fiscal 2024, with adjusted earnings surpassing expectations despite a slight miss in net sales [1][2]. Financial Performance - The company reported a profit of $132.1 million or $2.28 per share, compared to $43.7 million or 77 cents per share in the same quarter last year [1]. - Adjusted earnings were $2.31 per share, up from $1.17 a year ago, exceeding the Zacks Consensus Estimate of $1.89 [1]. - Net sales increased by approximately 7.5% year over year to $1,202.2 million, but fell short of the consensus mark of $1,203.6 million [1]. Segment Details - U.S. Consumer division net sales rose 11% year over year to $1,017.5 million, although it was below the estimate of $1,083.2 million; the segment's profit increased by 69% to $210.3 million [2]. - The Hawthorne segment experienced a 28% decline in net sales to $67.7 million, significantly lower than the estimate of $94.7 million; however, profit rose 144% to $3.8 million [2]. - The other segment saw a 7% increase in net sales to $117 million, with profit up 102% to $11.7 million [3]. Balance Sheet - At the end of the quarter, cash and cash equivalents stood at $279.9 million, a substantial increase from $27.4 million a year ago [4]. - Long-term debt decreased by approximately 7.3% to $2,436.4 million [4]. Outlook - The company reiterated its adjusted fiscal 2024 guidance, except for the Hawthorne segment, which is now expected to see net sales 35-40% lower than the previous year due to strategic exits from lower-margin brands and a decline in the professional horticulture lighting business [5]. - The Hawthorne segment anticipates break-even or improved adjusted EBITDA for the full year [5]. Price Performance - Scotts Miracle-Gro shares have increased by 35.9% over the past year, contrasting with a 25.2% decline in the industry [7].

Core Points - ClaimsFiler reminds investors of the deadline to file lead plaintiff applications in class action lawsuits against The Scotts Miracle-Gro Company for shares purchased between June 2, 2021, and August 1, 2023 [1][2] - The lawsuits allege that Scotts and certain executives failed to disclose material information, violating federal securities laws [2][4] - On August 2, 2023, Scotts disclosed disappointing financial results, including a 6% decline in quarterly sales, a 420 basis point decline in gross margin, a 25% cut to fiscal year EBITDA guidance, and a $20 million write-down of excess inventories [3] - Following the financial disclosure, Scotts' share price fell by $13.58, or 19%, from $71.44 on August 1, 2023, to $57.86 on August 2, 2023 [3] Legal Context - The case is identified as City of Hialeah Employees' Retirement System v. The Scotts Miracle-Gro Company, No. 24-cv-03132, with a subsequent case expanding the class period [4] - ClaimsFiler serves as a resource for retail investors to recover funds from securities class action settlements, offering free registration and access to information on various cases [4]

This quarterly report represents an earnings surprise of 22.22%. A quarter ago, it was expected that this lawn and garden products company would post earnings of $3.35 per share when it actually produced earnings of $3.69, delivering a surprise of 10.15%. Scotts, which belongs to the Zacks Fertilizers industry, posted revenues of $1.2 billion for the quarter ended June 2024, missing the Zacks Consensus Estimate by 0.12%. This compares to year-ago revenues of $1.12 billion. The company has topped consensus r ...