The Scotts Miracle-Gro Company Revenue in 2024

The Scotts Miracle-Gro Company reported $3.6B in revenue for fiscal year 2024. This represents a growth of 0% compared to the 2023 figure of $3.6B.

Revenue of $3.55 billion in FY2024 — flat against $3.55 billion in FY2023 and down significantly from $4.50 billion in FY2022 — reflects three consecutive years of post-pandemic demand normalization after consumers bought lawn and garden products at abnormal rates during COVID-19 lockdowns. The $4.50 billion peak in 2022 was demand pull-forward that left inventory overhang and reduced subsequent purchasing. The stabilization at $3.55 billion represents the normalized demand level before the pandemic distortion. Net loss of $34.9 million masks the free cash flow of $583.5 million generated in the same period. The divergence reflects non-cash charges: depreciation on the Hawthorne segment assets, tax rate distortions from non-deductible executive compensation under IRC Section 162(m), and state income tax effects that pushed the effective tax rate to 38.2 percent — 13 to 14 percentage points above the statutory federal rate in fiscal 2024. The US Consumer segment's 60 percent market share in lawn fertilizers and 50 percent in grass seed gives Scotts pricing power that commands a 15 to 25 percent premium over private label alternatives. That structural position survived three consecutive difficult years. The inventory optimization from Project Springboard improved inventory turns from 3.2x to 4.1x in fiscal 2024 — a supply chain achievement that contributed directly to the $583.5 million in free cash flow despite the net accounting loss. The Hawthorne segment's fiscal 2024 operating loss of $14.2 million, narrowed from $58.9 million in fiscal 2023 through aggressive cost reduction, was the last chapter before the April 2026 sale. The $891 million peak revenue in 2021 versus $294.7 million in fiscal 2024 tells the story of the investment that consumed the most capital and management attention in the company's recent history, ultimately resolved by accepting equity in a struggling company rather than continuing to fund losses.