Scotts Miracle-Gro (SMG) Cuts FY22 Guidance

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Go back to Scotts Miracle-Gro (SMG) Cuts FY22 Guidance

ScottsMiracle-Gro Reduces Outlook for Sales and Non-GAAP Adjusted EPS Despite Strong Recovery in Consumer Lawn & Garden Participation

June 8, 2022 7:00 AM EDT

MARYSVILLE, Ohio, June 08, 2022 (GLOBE NEWSWIRE) -- The Scotts Miracle-Gro Company (NYSE: SMG), the worlds leading marketer of branded consumer lawn and garden as well as indoor and hydroponic growing products, said consumer purchases of its core lawn and garden brands surged in May with unit volume now trending towards the Companys original assumptions for the season. However, a variety of factors prompted the Company to lower its outlook for both sales and adjusted earnings for fiscal 2022.

Consumer purchases at the Companys largest retail partners were at near-record levels in May,... More