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High materiality8/10

Scotts Miracle-Gro raises FY26 guidance as SMG 2.0 drives growth

Jul 29, 2026, 6:54 AM EDT2 sourcesAI-analyzed

Why it may matterVerify against the original reporting

Guidance raise and confirmed profitability trajectory, plus deleveraging and shareholder backing, imply a modest near-term upside; divestiture reduces risk and improves mix, potentially improving multiple over time.

AI summary

What happened, with direct paths to the underlying reporting

Scotts Miracle-Gro reported Q3 2026 results with net sales of about $1.17B and raised full-year non-GAAP EPS guidance to $4.30–$4.45. The company noted margin pressures from freight and commodity costs, but expects margin expansion to stay on track, aided by AI and capital investments. The largest shareholder, the Hagedorn Partnership, reaffirmed support for CEO Nate Baxter, while the Hawthorne unit was divested, improving balance-sheet metrics and long-term mix.

Q3 net sales $1.17B, up 1% YoY; margins pressured by freight costs.
FY26 non-GAAP diluted EPS guidance raised to $4.30–$4.45; Hagedorn Partnership backs CEO.
Leverage improves to 3.78x; Hawthorne divestiture reduces risk and improves mix.
US Consumer net sales to grow low single digits; gross margin at least 32%.
Hawthorne sale completed; SMG 2.0 progress highlighted.

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