‘Volatile’ cannabis business causes Scotts Miracle-Gro to shed hydroponic grow unit - MarketWatch
The planned separation could clarify the company’s value and reduce volatility.
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The planned separation could clarify the company’s value and reduce volatility.
What happened, with direct paths to the underlying reporting
Scotts Miracle-Gro plans to separate Hawthorne to boost its valuation. Hawthorne's sales fell 35% to $52 million in the first fiscal quarter. Analyst sees separation as a positive move to reduce earnings volatility. Past consumer brands have exited cannabis, impacting Scotts Miracle-Gro's position. Despite Hawthorne, SMG's overall sales increased to $417 million.
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