ScottsMiracle-Gro Boosts Finances, Reaffirms 2026 Outlook

ScottsMiracle-Gro (SMG) announced on September 11, 2026, the successful execution of several key capital allocation strategies, alongside a reaffirmation of its fiscal year 2026 financial projections. The company redeemed its entire $250 million of outstanding 5.25% senior notes due 2026, utilizing revolver borrowings and anticipated free cash flow to bolster its balance sheet.

Furthermore, SMG renewed its $750 million accounts receivable facility, extending its availability through August 31, 2027, ensuring continued liquidity. The company has also commenced its $500 million share repurchase program, having already bought back $25 million in August 2026, with future repurchases contingent on market conditions and debt reduction goals.

SMG has achieved its target of $275 million in fiscal 2026 free cash flow, which is expected to reduce its leverage to the high-3x range. The company's capital allocation prioritizes consistent free cash flow generation, debt reduction, shareholder returns, and investments for long-term growth, underscoring confidence in its SMG 2.0 strategy.