THE SCOTTS MIRACLE-GRO COMPANY

(SMG)
  Report
Delayed Nyse  -  05/19 04:00:01 pm EDT
91.36 USD   +2.50%
05/17INSIDER SELL : Scotts Miracle-Gro
MT
05/11SCOTTS MIRACLE-GRO CO MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS (form 10-Q)
AQ
05/11INSIDER SELL : Scotts Miracle-Gro
MT
SummaryQuotesChartsNewsRatingsCalendarCompanyFinancialsConsensusRevisions 
SummaryMost relevantAll NewsAnalyst Reco.Other languagesPress ReleasesOfficial PublicationsSector newsMarketScreener Strategies

The Scotts Miracle-Gro Company Announces Extension of Exchange Offer for 4.000% Senior Notes due 2031

01/28/2022 | 07:00am EDT

MARYSVILLE, Ohio, Jan. 28, 2022 (GLOBE NEWSWIRE) -- The Scotts Miracle-Gro Company (NYSE: SMG) today announced that it has extended its registered exchange offer to exchange any and all of its $500,000,000 aggregate principal amount of 4.000% Senior Notes due 2031, which were issued in a private placement on March 17, 2021, for an equal principal amount of its 4.000% Senior Notes due 2031, which have been registered under the Securities Act of 1933, as amended.

The exchange offer, which had been scheduled to expire at 11:59 p.m., New York City time, on January 27, 2022, will now expire at 11:59 p.m., New York City time, on February 3, 2022, unless further extended by the Company. All other terms, provisions and conditions of the exchange offer will remain in full force and effect. As of 5:00 p.m., New York City time, on January 27, 2022, $475,000,000 aggregate principal amount of the outstanding 4.000% Senior Notes due 2031 had been tendered for exchange, representing 95.0% of the outstanding 4.000% Senior Notes due 2031.     

The terms of the exchange offer are set forth in a prospectus dated December 22, 2021 and the related letter of transmittal. Requests for assistance or for copies of documents related to the exchange offer, including the prospectus and the letter of transmittal, should be directed to the exchange agent, U.S. Bank National Association, at (800) 934-6802.

This press release is not an offer to buy or sell or the solicitation of an offer to buy or sell any of the securities described herein, nor shall there be any offer, solicitation or sale of such securities in any jurisdiction in which such offer, solicitation or sale would be unlawful. A registration statement on Form S-4 relating to the exchange offer was declared effective by the Securities and Exchange Commission on December 22, 2021. The exchange offer is being made only pursuant to the terms of the exchange offer documents, including the prospectus dated December 22, 2021 and the related letter of transmittal.

About ScottsMiracle-Gro

With approximately $4.9 billion in sales, the Company is one of the world’s largest marketers of branded consumer products for lawn and garden care. The Company’s brands are among the most recognized in the industry. The Company’s Scotts ®, Miracle-Gro® and Ortho® brands are market-leading in their categories. The Company’s wholly-owned subsidiary, The Hawthorne Gardening Company, is a leading provider of nutrients, lighting and other materials used in the indoor and hydroponic growing segment. Another wholly-owned subsidiary, The Hawthorne Collective, has been established to invest in emerging areas of the cannabis industry. For additional information, visit us at www.scottsmiraclegro.com.

Cautionary Note Regarding Forward-Looking Statements 

Statements contained in this press release, other than statements of historical fact, which address activities, events and developments that the Company expects or anticipates will or may occur in the future, including, but not limited to, information regarding the future economic performance and financial condition of the Company, the plans and objectives of the Company’s management, and the Company’s assumptions regarding such performance and plans are “forward-looking statements” within the meaning of the U.S. federal securities laws that are subject to risks and uncertainties. These forward-looking statements generally can be identified as statements that include phrases such as “guidance,” “outlook,” “projected,” “believe,” “target,” “predict,” “estimate,” “forecast,” “strategy,” “may,” “goal,” “expect,” “anticipate,” “intend,” “plan,” “foresee,” “likely,” “will,” “should” or other similar words or phrases. Actual results could differ materially from the forward-looking information in this release due to a variety of factors, including, but not limited to:

  • The ongoing COVID-19 pandemic could have a material adverse effect on the Company’s business, results of operation, financial condition and/or cash flows;

  • Compliance with environmental and other public health regulations or changes in such regulations or regulatory enforcement priorities could increase the Company’s costs of doing business or limit the Company’s ability to market all of its products;

  • Damage to the Company’s reputation or the reputation of its products or products it markets on behalf of third parties could have an adverse effect on its business;

  • If the Company underestimates or overestimates demand for its products and does not maintain appropriate inventory levels, its net sales and/or working capital could be negatively impacted;

  • If the Company is unable to effectively execute its e-commerce business, its reputation and operating results may be harmed;

  • Because of the concentration of the Company’s sales to a small number of retail customers, the loss of one or more of, or significant reduction in orders from, its top customers could adversely affect the Company’s financial results;

  • Climate change and unfavorable weather conditions could adversely impact financial results;

  • Certain of the Company’s products may be purchased for use in new or emerging industries or segments and/or be subject to varying, inconsistent, and rapidly changing laws, regulations, administrative practices, enforcement approaches, judicial interpretations and consumer perceptions;

  • The Company’s operations may be impaired if its information technology systems fail to perform adequately or if it is the subject of a data breach or cyber-attack;

  • The Company may not be able to adequately protect its intellectual property and other proprietary rights that are material to the Company’s business;

  • In the event the Third Restated Marketing Agreement for consumer Roundup products terminates, or Monsanto’s consumer Roundup business materially declines the Company would lose a substantial source of future earnings and overhead expense absorption;

  • Hagedorn Partnership, L.P. beneficially owns approximately 26% of the Company’s common shares and can significantly influence decisions that require the approval of shareholders;

  • Acquisitions, other strategic alliances and investments could result in operating difficulties, dilution and other harmful consequences that may adversely impact the Company’s business and results of operations.

Additional detailed information concerning a number of the important factors that could cause actual results to differ materially from the forward-looking information contained in this release is readily available in the Company’s publicly filed quarterly, annual and other reports. The Company disclaims any obligation to update developments of these risk factors or to announce publicly any revision to any of the forward-looking statements contained in this release, or to make corrections to reflect future events or developments.

Contact:

Jim King
Executive Vice President
Investor Relations & Corporate Affairs
937-578-5622


Primary Logo

Source: Scotts Miracle-Gro Company (The)

2022 GlobeNewswire, Inc., source Press Releases

All news about THE SCOTTS MIRACLE-GRO COMPANY
05/17INSIDER SELL : Scotts Miracle-Gro
MT
05/11SCOTTS MIRACLE-GRO CO MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND ..
AQ
05/11INSIDER SELL : Scotts Miracle-Gro
MT
05/05INSIDER SELL : Scotts Miracle-Gro
MT
05/05Berenberg Bank Adjusts Price Target on Scotts Miracle-Gro to $157 From $232, Maintains ..
MT
05/04SECTOR UPDATE : Consumer Discretionary Stocks Surging Wednesday in Outsized Markets Reboun..
MT
05/04SECTOR UPDATE : Consumer
MT
05/04Raymond James Adjusts Scotts Miracle-Gro's Price Target to $125 from $150, Keeps Strong..
MT
05/04UBS Adjusts Scotts Miracle-Gro Company Price Target to $137 From $152, Maintains Buy Ra..
MT
05/04WALL STREET STOCK EXCHANGE : Finally, it's time for Powell's speech
More news
Analyst Recommendations on THE SCOTTS MIRACLE-GRO COMPANY
More recommendations
Financials (USD)
Sales 2022 4 474 M - -
Net income 2022 380 M - -
Net Debt 2022 2 331 M - -
P/E ratio 2022 13,1x
Yield 2022 2,88%
Capitalization 5 078 M 5 078 M -
EV / Sales 2022 1,66x
EV / Sales 2023 1,51x
Nbr of Employees 7 300
Free-Float 59,0%
Chart THE SCOTTS MIRACLE-GRO COMPANY
Duration : Period :
The Scotts Miracle-Gro Company Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends THE SCOTTS MIRACLE-GRO COMPANY
Short TermMid-TermLong Term
TrendsBearishBearishBearish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus BUY
Number of Analysts 12
Last Close Price 91,36 $
Average target price 139,80 $
Spread / Average Target 53,0%
EPS Revisions
Managers and Directors
James Hagedorn Chief Executive Officer & Director
Michael C. Lukemire President & Chief Operating Officer
Cory J. Miller Chief Financial Officer & Executive Vice President
Dave Swihart Head-Global Technology & Operations
Ivan C. Smith Secretary, Chief Compliance Officer & Executive VP
Sector and Competitors
1st jan.Capi. (M$)
THE SCOTTS MIRACLE-GRO COMPANY-43.25%5 078
SOCIEDAD QUÍMICA Y MINERA DE CHILE S.A.78.88%27 201
PJSC PHOSAGRO35.95%16 606
ICL GROUP LTD27.96%14 635
UPL LIMITED8.98%7 886
YUNNAN YUNTIANHUA CO., LTD.31.80%7 074