Scotts Miracle-Gro Completes Key Capital Allocation Initiatives

MARYSVILLE, Ohio, Sept. 15, 2026 /CourierPR/ -- Scotts Miracle-Gro, the leading marketer of branded consumer lawn and garden products in North America, has successfully executed key elements of its capital allocation strategy, according to a recent press release. The company has taken several steps to strengthen its financial position and enhance its capital structure.

On September 11, 2026, Scotts Miracle-Gro redeemed all $250 million of its outstanding 5.250% senior notes due in 2026. This redemption was funded through a combination of available revolver debt and planned fiscal year 2026 excess free cash flow. The company also renewed its $750 million accounts receivable facility with JPMorgan Chase Bank, N.A., extending its maturity to August 31, 2027. This move provides the company with consistent access to efficient liquidity.

In addition, Scotts Miracle-Gro initiated a share repurchase program, executing $25 million in repurchases during the month of August. The company has authorized a $500 million share repurchase program, with the timing and scale of future repurchases contingent on market conditions and other factors determined by management. The company remains committed to ongoing debt reduction and other financial priorities outlined in its mid-term growth algorithm for fiscal years 2027 through 2029.

Nate Baxter, president and CEO of Scotts Miracle-Gro, stated, "Our focus remains on operational excellence and executing our SMG 2.0 multi-year strategy to drive sustainable and consistent growth. These actions reflect our commitments to disciplined capital allocation, maintaining financial flexibility, and further enhancing our capital structure."

Mark Scheiwer, chief financial officer and chief accounting officer, added, "Strengthening our balance sheet is a top priority, and we are pleased with the progress we have made in deleveraging. By optimizing our liquidity through our accounts receivable facility and deploying free cash flow to address our debt obligations, we are further strengthening our financial position to fund growth and return value to shareholders."

Scotts Miracle-Gro has reaffirmed its previously provided Fiscal 2026 guidance, which includes: - U.S. Consumer net sales in the low single-digit growth range - Non-GAAP adjusted gross margin of at least 32% - Non-GAAP adjusted net income per share from continuing operations of $4.30 to $4.45 - Non-GAAP adjusted EBITDA in the mid single-digit growth range - Free cash flow of $275 million, driving leverage ratio down to the high 3s

The company will close its fiscal year on September 30, 2026, and announce full-year financial results on November 4, 2026. With approximately $3.3 billion in sales, Scotts Miracle-Gro is the leading marketer of branded consumer lawn and garden products in North America. Its brands, including Scotts®, Miracle-Gro®, Ortho®, and Tomcat®, are among the most recognized in the industry.