ScottsMiracle-Gro Announces Financial Targets and Capital Allocation Strategy During Investor Day 2026 at NYSE

About this update from Scotts Miracle-gro Company (the)

NEW YORK, Aug. 04, 2026 (GLOBE NEWSWIRE) -- The Scotts Miracle-Gro Company (NYSE: SMG), the leading marketer of branded consumer lawn and garden products in North America, today announced its mid-range financial targets and capital allocation strategy for fiscal 2027 through fiscal 2029. The Company is providing the update in advance of its Investor Day 2026 event at the New York Stock Exchange, starting at 9 a.m. today and featuring President and CEO Nate Baxter, Chief Financial Officer and Chief Accounting Officer Mark Scheiwer and other Company leaders discussing the SMG 2.0 growth strategy and its resulting mid-term targets that include dependable net sales growth, consistent profitability expansion and a disciplined approach to capital allocation. “We continue to make significant and meaningful progress on the core elements of SMG 2.0, putting us on a clear path to meet or exceed the financial commitments we established for fiscal 2026,” Baxter said. “Looking ahead, we will build upon this foundation and accelerate the core elements of SMG 2.0. By tenaciously focusing and executing upon its tactical building blocks, we will drive sustainable mid- and long-term value for our Company and shareholders.”SMG 2.0 Building Blocks During today’s event, the Company will review SMG 2.0 in detail, including priority areas of focus for fiscal 2027 through fiscal 2029. The building blocks of SMG 2.0 include:Portfolio optimization and innovation through revitalization of core product lineups to drive premium growth.Omnichannel and retail expansion to engage broader consumer groups through digital scale and retailer partnerships.Category growth and market expansion through greater household penetration to grow the Company’s addressable market.Technology-driven operational excellence with a focus on expanding margins via targeted AI, automation and supply chain efficiencies.Mid-Range Growth Algorithm The Company’s mid-range growth algorithm for fiscal 2027 through fiscal 2029 is grounded in consistent progress with SMG 2.0 and includes average annual:Total Company net sales growth of 2 to 4%.Adjusted gross margin rate improvement of 50 to 100 basis points.Adjusted EPS growth of 5 to 8%.Free cash flow greater than $275 million. The Company also updated its leverage ratio targets to reflect a mid-range goal of 3 to 3.5x from fiscal 2027 through fiscal 2029 and a longe...

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