The Scotts Miracle-Gro Company (NYSE: SMG), the leading marketer of branded consumer lawn and garden products in North America, today announced the successful execution of key elements of its capital allocation strategy and reaffirmed confidence in achieving its Fiscal 2026 guidance.
The recent actions demonstrate continued execution of the Company’s disciplined capital allocation strategy. Among the completed actions:
The Company redeemed all $250 million aggregate principal amount of its outstanding 5.250% senior notes due 2026. This redemption, completed on September 11 was funded through a combination of available revolver debt and planned fiscal year 2026 excess free cash flow.
The Company renewed its $750-million accounts receivable facility with JPMorgan Chase Bank, N.A., extending its maturity to August 31, 2027, providing consistent access to efficient liquidity.
The Company executed share repurchases totaling $25 million during the month of August, marking the start of the $500-million share repurchase program authorized by the Board of Directors.
“The timing and scale of future re-purchases,” according to this morning’s news release, “remain secondary to the Company’s commitment to ongoing debt reduction and will be subject to market conditions and other factors determined by management.”
SMG opened Tuesday trading ahead 35 cents to $56.26.
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