Scotts Miracle-Gro redeems $250M notes, renews AR facility, starts share repurchases

SCOTTS MIRACLE-GRO CO

Redeemed all $250M of 5.250% senior notes due 2026 on Sept 11, using revolver debt and FY2026 excess FCF.
Renewed $750M accounts receivable facility with JPMorgan Chase, extending maturity to Aug 31, 2027.
Repurchased $25M of shares in August, initiating the $500M buyback program authorized by the board.
Reaffirmed FY2026 guidance: adjusted EPS $4.30-$4.45, adjusted gross margin at least 32%, US Consumer low-single-digit net sales growth.
Reaffirmed free cash flow target of $275M, projecting leverage ratio down to high 3s; FY results due Nov 4, 2026.

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