Scotts Miracle-gro Company (the) Stock News

The Scotts Miracle-Gro Co. SMG, -1.38% -backed RIV Capital Inc. RIV, -5.45% CNPOF, -3.03% said Wednesday it agreed to pay about $247 million to acquire Etain LLC and Etain IP LLC, the New York cannabi

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PALM BEACH, Fla. , March 15, 2022 /PRNewswire/ -- FinancialNewsMedia.com News Commentary The market demand for organic fertilizers for the production of cereals and grains is expected to witness the same trend in the near future as well. The downstream demand for organically produced products by consumers across the U.S., Canada , and western European countries, coupled with macroeconomic development in countries such as China , India , and Brazil , is expected to continue propelling the growth of the organic fertilizers market in the coming years. A report from PS Market Research projected that: "Increasing acreage and the number of organically farmed areas; growing downstream demand for organic food and beverages; and favorable government policies and initiatives toward organic farming are the key factors positively impacting the growth of the organic fertilizers market, globally. On account of these factors, the market is projected to generate revenue worth $14,746.2 million by 2030, advancing at a CAGR of 14.1% during the forecast period (2020–2030), according to the market research report published by P&S Intelligence.

ScottsMiracle-Gro (SMG) projects Hawthorne sales to fall 15-25%, including the benefit of acquisitions, led by an oversupply of cannabis.

Scotts Miracle-Gro <> shares plunge to their lowest in nearly two years after cutting full-year sales guidance for its Hawthorne segment and saying the reduction likely will lead…

Shares of Scotts Miracle-Gro Co. dove 3.8% toward a near two-year low in premarket trading Tuesday, after the lawn care company, with its hands in the cannabis business, warned of lower-than-expected full-year profit give a surprise anticipated decline in Hawthorne sales. The company said it now expects fiscal 2022 sales for its Hawthorne business to decline 15% to 25% from a year ago, compared with previously provided guidance for growth of 8% to 12%. The company said Hawthorne sales have been "challenged for several months" because of an oversupply of cannabis. The company said it expects to achieve adjusted earnings per share of "at least" $8.00 for the year, compared with previous guidance provided in November of $8.50 to $8.90. The company also said it no longer expects to make a "significant" acquisition in fiscal 2022, after previously saying it would continue pursuing acquisition opportunities throughout the year. The stock, which closed Monday at the lowest price since May 4, 2020, has dropped 16.4% over the past three months while the S&P 500 has shed 10.6%.

Shares of Scotts Miracle-Gro Co. SMG, -4.84% dove 3.8% toward a near two-year low in premarket trading Tuesday, after the lawn care company, with its hands in the cannabis business, warned of lower-th

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