Scotts Miracle-Gro (SMG) Patents its Gavita CT 1930e LED Light – Yahoo Finance

January 2, 2022 by No Comments

The Scotts Miracle-Gro Company’s SMG wholly-owned subsidiary, The Hawthorne Gardening Company, recently announced the procurement of multiple patents. These patents are related to the design and functionality of the Gavita CT 1930e LED light — its most successful product ever.

The Gavita CT 1930e comprises innovative state-of-the-art technology, which is protected by various U.S. and international design and utility patents and patent applications. This will position the product’s optics, design and unique construction among industry leaders.

The innovative technology package of the Gavita CT 1930e brings unique advantages to growers of all sizes and a new level of performance for LED fixtures. It was launched last year and has proved to be one of the most successful product launches of Scotts Miracle-Gro.

The company noted that the issue of patents is a testament to the revolutionary design and performance of the Gavita CT 1930e. Beyond providing cultivators with a highly energy-efficient LED with proven growing power, this further demonstrates Hawthorne’s commitment to leverage our R&D, technical services and distribution capabilities to help growers achieve short- and long-term success.

The patent-pending controller technology embedded within each Gavita CT 1930e facilitates control of up to 2,000 fixtures per EL Series Master Control channel and helps maintain unwavering output from light to light. These product innovations effortlessly combine together, and with other Hawthorne offerings, to deliver an unparalleled high-performance technology solution for high-performance environments.

Shares of Scotts Miracle-Gro have declined 18.3% in the past year against a 44.1% rise of the industry.

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Scotts Miracle-Gro, in its last earnings call, stated that it expects sales in the Hawthorne segment for fiscal 2022 to rise 8-12%. U.S. Consumer sales growth guidance is expected to be 0 to -4%. It expects company-wide sales growth of 0-3%.

The gross margin rate is projected to decline 100-150 basis points (bps) year over year. The company also expects adjusted earnings per share in the range of $8.50-$8.90 for the full year.

The company noted that the current over-supply of cannabis is expected to put pressure on its growth rate through the rest of the calendar year and into the second quarter in the Hawthorne segment, at which point it expects a more normal growth rate.

The Scotts MiracleGro Company Price and Consensus

The Scotts MiracleGro Company Price and Consensus

The Scotts MiracleGro Company price-consensus-chart | The Scotts MiracleGro Company Quote

Zacks Rank & Key Picks

Scotts Miracle-Gro currently carries a Zacks Rank #3 (Hold).

Some better-ranked stocks in the basic materials space are Nutrien Ltd. NTR, The Chemours Company CC and AdvanSix Inc. ASIX.

Nutrien has an expected earnings growth rate of 233.3% for the current year. The Zacks Consensus Estimate for current-year earnings has been revised 16.3% upward in the past 60 days.

Nutrien beat the Zacks Consensus Estimate for earnings in three of the last four quarters. The company has a trailing four-quarter earnings surprise of roughly 73.5%, on average. The stock has increased 44.1% in a year. NTR currently sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.

Chemours has an expected earnings growth rate of 105.1% …….



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