Scotts Miracle-Gro announced the execution of key capital allocation initiatives, including the redemption of all $250 million aggregate principal amount of its outstanding 5.250% senior notes due 2026, a move completed on September 11, 2026 and funded through a combination of available revolver debt and planned fiscal year 2026 excess free cash flow. The company also renewed its $750 million accounts receivable facility with JPMorgan Chase Bank, N.A., extending its maturity to August 31, 2027. In addition, ScottsMiracle-Gro executed $25 million in share repurchases during August, marking the start of its $500 million share repurchase program authorized by the Board of Directors, though the company said the timing and scale of future repurchases remain secondary to its commitment to ongoing debt reduction. The company reaffirmed its full Fiscal 2026 guidance, including U.S. Consumer net sales low single-digit growth, non-GAAP adjusted gross margin of at least 32%, non-GAAP adjusted net income per share from continuing operations of $4.30 to $4.45, non-GAAP adjusted EBITDA mid single-digit growth, and free cash flow of $275 million, driving its leverage ratio down to the high 3s. ScottsMiracle-Gro will close its fiscal year on September 30, 2026, and announce full-year financial results on November 4, 2026.
Scotts Miracle-Gro CompanyScottsMiracle-Gro redeems $250M notes, starts $500M buyback, renews $750M facility, and reaffirms FY2026 guidance.
JPMorgan Chase & Co