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Stifel analyst W. Andrew Carter maintains Scotts Miracle Gro (NYSE:SMG) with a Buy and raises the price target from $75 to $76.
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ScottsMiracle-Gro (SMG) redeemed $250 million in senior notes, renewed a $750 million receivables facility, and initiated a $500 million share repurchase program with $25 million repurchased in August 2026. The company achieved its $275 million free cash flow target and expects to reduce leverage to the high-3x range, reaffirming fiscal 2026 guidance while focusing on operational excellence and its SMG 2.0 growth strategy.
Filed: 2026-09-15 AccNo: 0000825542-26-000050 Size: 190 KB Item 1.02: Termination of a Material Definitive Agreement Item 8.01: Other Events Item 9.01: Financial Statements and Exhibits
Scotts Miracle-Gro Company announced successful execution of its capital allocation strategy, including redemption of $250 million in senior notes due 2026, renewal of a $750 million accounts receivable facility, and initiation of a $500 million share repurchase program. The company reaffirmed its Fiscal 2026 guidance with expectations for low single-digit U.S. consumer net sales growth, adjusted gross margins of at least 32%, and free cash flow of $275 million.