The earnings report, which is expected to be released on July 31, 2024, might help the stock move higher if these key numbers are better than expectations. On the other hand, if they miss, the stock may move lower. This lawn and garden products company is expected to post quarterly earnings of $1.89 per share in its upcoming report, which represents a year-over-year change of +61.5%. Investors should keep in mind that an aggregate change may not always reflect the direction of estimate revisions by each of ...

NEW YORK, July 23, 2024 (GLOBE NEWSWIRE) -- WHY: Rosen Law Firm, a global investor rights law firm, reminds purchasers of common stock of The Scotts Miracle-Gro Company (NYSE: SMG) between November 3, 2021 and August 1, 2023, both dates inclusive (the "Class Period"), of the important August 5, 2024 lead plaintiff deadline. SO WHAT: If you purchased Scotts common stock during the Class Period you may be entitled to compensation without payment of any out of pocket fees or costs through a contingency fee arr ...

Lawn and garden products manufacturer ScottsMiracle-Gro Co. NYSE: SMG stock surged on its Investor Day update ahead of fiscal Q3 2024 earnings release. The company reaffirmed its full-year 2024 outlook and further added that it expects 3% YoY growth in its U.S. consumer segment from 2025 to 2027. Its products are widely used for agriculture by consumers of plants and lawn care. There is also a growing population of cannabis growers using their products. They are a benefactor from cannabis legalization and d ...

About ScottsMiracle-Gro To watch the Company presentation and listen to the question-and-answer session, please register in advance at this webcast link. For those planning to participate in the question-and-answer session that follows the video presentation, please register for the webcast to view the presentation in addition to registering in advance via this audio link to receive call-in details and a unique PIN. The replay of the conference call will also be available on the Company's investor website, ...

LOS ANGELES, July 22, 2024 /PRNewswire/ -- The Schall Law Firm, a national shareholder rights litigation firm, reminds investors of a class action lawsuit against The Scotts Miracle-Gro Company ("Scotts" or "the Company") (NYSE: SMG) for violations of §§10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated thereunder by the U.S. Securities and Exchange Commission. The class, in this case, has not yet been certified, and until certification occurs, you are not represented by an at ...

Core Viewpoint - The Scotts Miracle-Gro Company is facing a federal securities class action lawsuit due to allegations of misleading statements regarding inventory levels, debt compliance, and financial performance, which led to artificially inflated stock prices during the class period [1][9]. Financial Performance - On August 2, 2023, Scotts reported a 6% decline in quarterly sales for its fiscal third quarter and a drop in gross margins by 420 basis points [2]. - The company reduced its fiscal year EBITDA guidance by 25% and announced a $20 million write-down of excess inventories attributed to the pandemic [2]. - Scotts modified its debt covenants from a 6.25 times debt-to-EBITDA ratio to a 7.00 times ratio [2]. Stock Price Impact - Following the disclosures on August 2, 2023, Scotts' stock price fell by $13.58 per share, or 19%, from $71.44 to $57.86 [11]. - The stock also experienced a decline of $9.05 per share, nearly 9%, from $102.18 to $93.13 on June 8, 2022, after earlier disclosures [6]. Legal Proceedings - A federal securities class action has been filed against Scotts, with a deadline of August 5, 2024, for investors to seek the role of lead plaintiff [9]. - The lead plaintiff is defined as the investor with the largest financial interest in the relief sought, who will oversee the litigation on behalf of the class [4].

NEW YORK, July 17, 2024 /PRNewswire/ -- The Gross Law Firm issues the following notice to shareholders of The Scotts Miracle-Gro Company (NYSE: SMG). https://securitiesclasslaw.com/securities/the-scotts-miracle-gro-company-loss-submission-form/? id=90895&from=4 DEADLINE: August 5, 2024 Shareholders should not delay in registering for this class action. Register your information here: https://securitiesclasslaw.com/securities/the-scotts-miracle-gro-company-loss-submissionform/?id=90895&from=4 SOURCE The Gros ...

"Over the past two years, we've been on a journey to transform our Company and return to a more shareholder friendly environment," said Jim Hagedorn, chairman, CEO and president. "We've made major progress on this front and are on track to our near-term targets. Looking to fiscal '25 through fiscal '27, we expect to further drive meaningful value by delivering significant gross margin improvement and consistent annual growth rates. The Company also continues to transform its Hawthorne subsidiary through its ...

Core Viewpoint - The Scotts Miracle-Gro Company is focused on transforming its operations to enhance shareholder value, with significant progress made and a positive outlook for fiscal years 2025 to 2027, aiming for gross margin improvement and consistent growth rates [1][20]. Strategic Objectives - The Company will outline its strategic and operational objectives for the next three years, building on its strong market positions in the U.S. Consumer lawn and garden and Hawthorne businesses [2][9]. Midterm Targets - For fiscal years 2025 through 2027, the Company expects SG&A to remain between 15% and 16% of net sales, with a target of achieving a non-GAAP adjusted operating margin exceeding 15% and adjusted EBITDA surpassing $600 million [4][10]. 2024 Outlook - The Company anticipates an average annual growth rate of 3% in net sales through innovation, net pricing, and synergistic mergers and acquisitions in the U.S. Consumer business [19]. Financial Performance - The non-GAAP adjusted gross margin rate is projected to exceed 30% due to improved volume, net pricing averaging over 1% per year, and over $150 million in supply chain efficiencies over three years [11][12]. Cash Flow and Capital Allocation - The Company expects to generate over $300 million in annualized free cash flow after capital expenditures, with a focus on debt reduction and sustaining dividends to shareholders, while planning for balanced capital allocation in the long term [12][20]. Market Position - With approximately $3.6 billion in sales, the Company is the largest marketer of branded consumer lawn and garden products, with well-known brands like Scotts®, Miracle-Gro®, and Ortho® leading their categories [23].

NEW YORK, July 12, 2024 /PRNewswire/ -- The Gross Law Firm issues the following notice to shareholders of The Scotts Miracle-Gro Company (NYSE: SMG). DEADLINE: August 5, 2024 Shareholders should not delay in registering for this class action. Register your information here: https://securitiesclasslaw.com/securities/the-scotts-miracle-gro-company-loss-submissionform/?id=90357&from=4 Shareholders who purchased shares of SMG during the class period listed are encouraged to contact the firm regarding possible l ...