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Edge16 Oct 2026
Winner, Winner: The Chicken McNugget Story
How a 1940s breeding contest, a Cornell food scientist, and a hedge by Ray Dalio helped McDonald's turn the Chicken McNugget into a fast-food icon.
The Scotts Miracle-Gro Company
The Scotts Miracle-Gro Company (SMG) investor relations material
The Scotts Miracle-Gro Company Q4 2026 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q4 2026 earnings summary4 Nov, 2026
Executive summary
FY26 net sales rose 1% to $3.29B; adjusted diluted EPS increased 18% to $4.48, FCF was $278.4M, and leverage improved to 3.89x.
Branded products, e-commerce, innovation, pricing and supply-chain savings supported growth and margin expansion; FY27 guidance targets continued profitable growth.
Financial highlights
FY26 net sales were $3,288.9M; U.S. Consumer sales rose 1%, and Other sales rose 4%.
GAAP gross margin was 32.3%, up 100 bps; adjusted gross margin was 32.4%, up 80 bps, supported by mix, pricing and supply-chain savings.
Adjusted EBITDA was $579.9M versus $569.7M; adjusted net income was $264.8M, up 19%.
GAAP diluted EPS was $3.30, up 6%; adjusted diluted EPS was $4.48, up 18%.
Q4 net sales declined 11% to $302.9M following retailer purchasing slowdowns after earlier-season loading.
Outlook and guidance
FY27 net sales growth guidance is 2%–4%; adjusted EPS guidance is $4.70–$4.90, with adjusted gross margin expected to expand.
FY27 FCF is expected at ~$275M; leverage is expected to improve YoY, with a 3.0x–3.5x target by FY29.
FY27–FY29 algorithm targets 2%–4% sales growth, 50–100 bps adjusted gross margin expansion, 5%–8% adjusted EPS growth and FCF above $275M.
At least $35M in annual supply-chain savings is targeted; FY27 includes $130M in supply-chain and IT CapEx.
Pricing, innovation and efficiencies support the plan; sales and profitability are expected to be stronger in H2, with flexibility to manage costs if sales are flat to slightly down.
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Latest events from The Scotts Miracle-Gro Company
- Transformation to a lifestyle brand targets 2–4% sales and 5–8% EPS growth through 2029.SMG
Investor Day 2026 - Raised full-year EPS guidance as sales and e-commerce grew, despite Hawthorne divestiture loss.SMGQ3 2026
- Transformation and innovation drive margin expansion and strong FY26 growth targets.SMG46th Annual William Blair Growth Stock Conference
- Q2 2026 net sales up 5%, margins and EPS rose, leverage improved, outlook remains strong.SMGQ2 2026
- Q1 margin gains, Hawthorne divestiture, and $500M buyback support a strong 2026 outlook.SMGQ1 2026
- Strong margin, EPS, and cash flow growth in 2025, with further gains targeted for 2026.SMGQ4 2025
- EBITDA and free cash flow surged, margins improved, and further gains are targeted for 2025.SMGQ4 2024
- Q3 sales and margins surged, driving strong EPS growth and a positive full-year outlook.SMGQ3 2024
- Net income and margins rose despite a 7% sales drop, driven by cost savings and margin recovery.SMGQ2 2025
Next The Scotts Miracle-Gro Company earnings date
Q1 202727 Jan, 2027
The Scotts Miracle-Gro Company
Next The Scotts Miracle-Gro Company earnings date
Q1 202727 Jan, 2027
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Frequently asked questions
The Scotts Miracle-Gro Company manufactures, markets, and sells products for lawn, garden care, and indoor and hydroponic gardening in the United States and internationally. It offers lawn fertilizers, grass seed products, spreaders, other durable products, weed control products, outsourced manufactured soilless growing media and plastic plant containers, landscape fabrics, weed barriers/landscape fabrics, lawn/garden decorative products consisting of outdoor décor, holiday décor items during appropriate seasons, deck and patio décor items comprising outdoor pottery sets, pots and planters for patio decks and gardens; bird feeders; window boxes; trellises; obelisks; and whitewash cedar boards used in construction of window boxes. The Scotts Miracle-Gro Company was founded in 1868 and is headquartered in Marysville, Ohio.