ScottsMiracle-Gro Names Nate Baxter CEO, Reaffirms $4.15–$4.35 EPS and $275M Cash Flow
SMG•ScottsMiracle-Gro named Nate Baxter as CEO and Pete Shumlin as board chair, succeeding Jim Hagedorn after a long-term succession plan. The company reaffirmed fiscal 2026 guidance of low single-digit U.S. consumer net sales growth, at least 32% non-GAAP gross margin, $4.15–$4.35 adjusted EPS and $275 million free cash flow.
1. Leadership Succession
Nate Baxter was named president and CEO, joining the board immediately, as part of the Board’s long-term internal succession plan. Pete Shumlin was elected independent board chair following Jim Hagedorn’s transition after nearly 40 years, during which revenue grew from $732 million in 1995 to $3.3 billion in fiscal 2025.
2. Strategic Growth Vision
Baxter, architect of the multi-year SMG 2.0 strategy, has driven category growth, channel expansion and product innovation focused on naturals and organics, and led technology, automation, analytics and AI initiatives to improve operational and cost efficiencies across the organization.
3. Fiscal 2026 Outlook
The company reaffirmed fiscal 2026 guidance calling for low single-digit U.S. consumer net sales growth, at least 32% non-GAAP adjusted gross margin, $4.15–$4.35 adjusted net income per share, mid single-digit EBITDA growth and approximately $275 million in free cash flow, lowering leverage to the high-3s. Investor Day is scheduled for August 4, 2026, at the New York Stock Exchange.
