Scotts Miracle-Gro: Sowing The Seeds Of Future Growth

Scotts Miracle-Gro remains a 'buy' as operational turnaround and balance sheet improvements drive resilience amid macro uncertainty. SMG's quasi-discretionary lawn and garden demand is expected to withstand higher oil prices, with minimal trade-down risk due to its higher-income customer base. Retailer inventory management is pushing revenue into Q2, exaggerating seasonality but not impacting full-year expectations or guidance.