ScottsMiracle-Gro Reports Fiscal 2026 Sales of $3.29 Billion and Sets 2027 Targets
The Marysville company reported full-year sales growth of 1% while setting earnings and cash flow targets for fiscal 2027.
Marysville-based ScottsMiracle-Gro announced results for its fourth quarter and full fiscal year ended Sept. 30, 2026, on Nov. 4, 2026. For the full fiscal year, net sales rose 1% to $3.29 billion compared to the previous year.
The lawn and garden company reported diluted earnings per share from continuing operations of $3.30 on a GAAP basis and $4.48 on a non-GAAP adjusted basis. Full-year gross margin reached 32.3% under GAAP and 32.4% on a non-GAAP adjusted basis. Full-year free cash flow totaled $278.4 million, and net leverage stood at 3.89x.
For the fourth quarter, net sales dropped 11% to $302.9 million. Fourth-quarter gross margin was negative 0.7% on both a GAAP and non-GAAP adjusted basis. Fourth-quarter diluted net loss per share from continuing operations was $2.14 on a GAAP basis and $2.16 on a non-GAAP adjusted basis.
Looking ahead, ScottsMiracle-Gro outlined fiscal 2027 company targets projecting 2% to 4% net sales growth, non-GAAP adjusted diluted earnings from continuing operations of $4.70 to $4.90 per share, and free cash flow of approximately $275 million.
The earnings release does not state any changes to Marysville headquarters operations or local employment.
How we know this
The sources and records behind this story, with the facts they support.
Supporting evidence (9)
Marysville-based ScottsMiracle-Gro announced results for its fourth quarter and full fiscal year ended Sept. 30, 2026, on Nov. 4, 2026.
Read supporting passage
MARYSVILLE, Ohio, Nov. 04, 2026 (GLOBE NEWSWIRE) -- The Scotts Miracle-Gro Company (NYSE: SMG), home to North America’s leading consumer lawn and garden brands, today announced its results for the fourth quarter and full fiscal year ended September 30, 2026.
For the full fiscal year, net sales rose 1% to $3.29 billion compared to the previous year.
Read supporting passage
Fiscal 2026 Full Year Highlights Net sales were $3.29 billion, an increase of 1% versus prior year, driven by growth in our branded products and continued e-commerce expansion.
The lawn and garden company reported diluted earnings per share from continuing operations of $3.30 on a GAAP basis and $4.48 on a non-GAAP adjusted basis.
Read supporting passage
GAAP net income from continuing operations of $3.30 per diluted share and non-GAAP adjusted earnings from continuing operations of $4.48 per diluted share improved by 6% and 18% over prior year, respectively, aided by lower interest expense and lower tax rate.
Full-year gross margin reached 32.3% under GAAP and 32.4% on a non-GAAP adjusted basis.
Read supporting passage
GAAP gross margin rate of 32.3% and non-GAAP adjusted gross margin rate of 32.4% improved by 100 and 80 basis points over prior year, respectively, driven by continued supply chain savings, favorable mix from higher-margin branded product sales and pricing actions, partially offset by higher commodity and freight costs.
Full-year free cash flow totaled $278.4 million, and net leverage stood at 3.89x.
Read supporting passage
Free cash flow was $278.4 million, and net leverage of 3.89x improved 0.21x versus last year.
For the fourth quarter, net sales dropped 11% to $302.9 million.
Read supporting passage
Three Months Ended Twelve Months Ended Footnotes September 30, 2026 September 30, 2025 % Change September 30, 2026 September 30, 2025 % ChangeNet sales $302.9 $340.1 (11) % $3,288.9 $3,255.8 1%
Fourth-quarter gross margin was negative 0.7% on both a GAAP and non-GAAP adjusted basis.
Read supporting passage
Three Months Ended September 30, 2026 Three Months Ended September 30, 2025 As Reported (GAAP) Non- GAAP AdjustmentsAdjusted (Non- GAAP) As Reported (GAAP) Non- GAAP AdjustmentsAdjusted (Non- GAAP) Gross margin $(2.1) $— $(2.1) $16.3 $(1.5)$17.7 Gross margin as a % of sales (0.7)% (0.7)%
Fourth-quarter diluted net loss per share from continuing operations was $2.14 on a GAAP basis and $2.16 on a non-GAAP adjusted basis.
Read supporting passage
Three Months Ended September 30, 2026 Three Months Ended September 30, 2025 As Reported (GAAP) Non- GAAP AdjustmentsAdjusted (Non- GAAP) As Reported (GAAP) Non- GAAP AdjustmentsAdjusted (Non- GAAP) Gross margin $(2.1) $— $(2.1) $16.3 $(1.5)$17.7 Gross margin as a % of sales (0.7)% (0.7)% 4.8 % 5.2 %Selling, general and administrative 144.0 (13.5) 130.4 127.7 — 127.7 Loss from operations (143.0) (11.7) (131.3) (123.8) (10.8) (113.0) Loss from operations as a % of sales (47.2)% (43.3)% (36.4)% (33.2)% Equity in loss of unconsolidated affiliates (8.6) — (8.6) (12.3) (3.8) (8.5) Loss from continuing operations before income taxes (178.9) (10.7) (168.2) (164.2) (14.6) (149.6) Income tax benefit from continuing operations (54.7) (11.9) (42.8) (36.9) (1.2) (35.7) Net loss from continuing operations (124.2) 1.1 (125.4) (127.3) (13.4) (113.9) Diluted net loss per common share from continuing operations (2.14) 0.02 (2.16) (2.21) (0.24) (1.97)
Looking ahead, ScottsMiracle-Gro outlined fiscal 2027 company targets projecting 2% to 4% net sales growth, non-GAAP adjusted diluted earnings from continuing operations of $4.70 to $4.90 per share, and free cash flow of approximately $275 million.
Read supporting passage
Fiscal 2027 Outlook The Company provided direction for fiscal 2027 that includes: Net sales growth of 2% to 4%.Continued expansion of non-GAAP adjusted gross margin rate.Non-GAAP adjusted earnings per share from continuing operations of $4.70 to $4.90.Free cash flow of approximately $275 million.Leverage ratio declining year over year, with the Company remaining on track to reach its target range of 3.0 to 3.5x by fiscal 2029.