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ScottsMiracle-Gro Reports Strong Fiscal 2026 Full-Year Results

SMG
  • Scotts Miracle-Gro reported Fiscal 2026 full-year net sales of $3.29 billion, a 1% increase over the prior year.
  • GAAP gross margin reached 32.3% while non-GAAP adjusted gross margin improved to 32.4%, representing a 100 basis point and 80 basis point expansion respectively.
  • Non-GAAP adjusted earnings per share for the full year were $4.48, an 18% increase over the prior year.
  • Free cash flow for Fiscal 2026 totaled $278.4 million with net leverage declining to 3.89x.
  • The company provided Fiscal 2027 guidance projecting net sales growth of 2% to 4% & non-GAAP adjusted EPS between $4.70 & $4.90.
  • Fiscal 2027 outlook includes continued gross margin expansion, approximately $275 million in free cash flow, & a path to reduce leverage to 3.0 to 3.5x by Fiscal 2029.
  • Net income from continuing operations per diluted share was $3.30 (GAAP), aided by lower interest expenses & a reduced tax rate.
  • The company is investing over $100 million in IT transformation costs to modernize its infrastructure, with the project expected to conclude in Fiscal 2028.
  • The Hawthorne business was classified as a discontinued operation, resulting in a $106.2 million pre-tax loss on its sale during the year.