Market Share and POS Growth
Scotts Miracle-Gro gained an additional 2% in market share, with POS units across categories up 8% for the year.
Financial Performance
Year-to-date, EBITDA increased by 9%, EPS rose by 24%, and leverage improved by more than 1.25 turns. Gross margin is above 30%.
Lawn Fertilizers and Regional Performance
Branded lawn fertilizers' POS units are up 1%, with Halts fertilizer product seeing a 25% unit increase and grass seed units up 16%. The Midwest region showed a 16% increase in POS units for the branded lawns portfolio.
E-commerce and Digital Strategy
E-commerce sales increased by 54% in online POS unit sales. A new mosquito control product sold out in one day on TikTok.
Innovation and Product Development
The R&D pipeline is strong with natural and organic solutions, with Miracle-Gro Organic representing about 1/5 of total soil sales and increasing.