CBD Guide
  • Home
  • Education
  • Guides
  • Reviews
  • News
No Result
View All Result
  • Home
  • Education
  • Guides
  • Reviews
  • News
No Result
View All Result
CBD Guide
No Result
View All Result
Home News

Scotts Miracle-Gro Hydroponics Subsidiary Hawthorne Reports 72% Q3 Growth

Jean Martinez by Jean Martinez
August 6, 2020
in News
0 0
0
Scotts Miracle-Gro Hydroponics Subsidiary Hawthorne Reports 72% Q3 Growth
0
SHARES
10
VIEWS
Share on FacebookShare on Twitter

Scotts Miracle-Gro Company reported a company-wide sales increase of 28 percent in the third quarter, including 72 percent growth for Hawthorne – its indoor cultivation and hydroponic subsidiary.

Separately, Scotts Miracle-Gro Board of Directors approved payment of a special dividend of $5 per share and increased its regular quarterly dividend by 7 percent to $0.62 per share, the company said in a press release. Both dividends are payable September 10 to shareholders of record on August 27.

For the quarter – which ended on June 27, 2020 – company-wide sales increased 28 percent to $1.49 billion. U.S. Consumer sales increased 21 percent to $1.08 billion from $889.1 million. Hawthorne sales increased 72 percent to $302.9 million compared with $176.3 million. Segment income increased 14 percent for U.S. Consumer sales to $310.5 million and 145 percent for Hawthorne to $41.1 million.

Scotts Chairman and CEO Jim Hagedorn called the year so far an “unprecedented success” and said the board decided to make special one-time payments later this year to nearly 3,000 hourly and salaried associates who do not participate in bonus plans and enhance bonus payments to another nearly 1,500 eligible associates who do participate in incentive plans. Additionally, Hagedorn said the company plans to double its charitable contributions.

“Our results this year continue to exceed our most optimistic expectations and are a testament to the critical nature of the categories in which we compete, the commitment of our retail partners, and the loyalty of the consumers and cultivators who rely on our products for their success. As we enter the final weeks of fiscal 2020 and prepare for the start of our next fiscal year, we remain optimistic about the strength of our business as well as our ability to continue to enhance shareholder value.” – Hagedorn in a statement

Hagedorn added that Hawthorne saw strong third-quarter growth “in every product category and geography” noting that its growth in the quarter was “higher-than-expected.” For the first nine months of the year, Hawthorne sales increased 59 percent to $731.7 million, the company said.

This content has been curated and re-published from Ganjaprenuer.com. Please click the link below to view this content from the original source.

Original Source: Scotts Miracle-Gro Hydroponics Subsidiary Hawthorne Reports 72% Q3 Growth

Content Credits: Originally written by TG Branfalt and published to Ganjaprenuer.com on 2020-08-03 15:04:32.

Previous Post

Canada Will Let Terminally Ill Patients Use Psychedelic Mushrooms For End-Of-Life Care

Next Post

Brooklyn DA Drops Charges Against Hemp Shipment Recipient

Related Posts

Wyoming Tribe Moves Toward Hemp and Medical Cannabis Legalization
News

Wyoming Tribe Moves Toward Hemp and Medical Cannabis Legalization

August 31, 2020
Oklahoma to Revoke Testing Lab’s License Amid Scandal
News

Oklahoma to Revoke Testing Lab’s License Amid Scandal

August 30, 2020
Hemp-Based Burger Announced by Fake Meat Startup
News

Hemp-Based Burger Announced by Fake Meat Startup

August 29, 2020
Florida Adds Edibles to Medical Cannabis Program
News

Florida Adds Edibles to Medical Cannabis Program

August 28, 2020
Most Legal Marijuana States Had Fewer Vaping-Related Lung Injuries, Study Finds
Learn About CBD

Most Legal Marijuana States Had Fewer Vaping-Related Lung Injuries, Study Finds

August 27, 2020
Mitch McConnell Recommends Hemp-Based Face Masks
News

Mitch McConnell Recommends Hemp-Based Face Masks

August 27, 2020
Next Post
Brooklyn DA Drops Charges Against Hemp Shipment Recipient

Brooklyn DA Drops Charges Against Hemp Shipment Recipient

Subscribe
Login
Notify of
guest
guest
0 Comments
Inline Feedbacks
View all comments

Recent Posts

  • Wyoming Tribe Moves Toward Hemp and Medical Cannabis Legalization
  • Oklahoma to Revoke Testing Lab’s License Amid Scandal
  • Hemp-Based Burger Announced by Fake Meat Startup
  • Florida Adds Edibles to Medical Cannabis Program
  • Most Legal Marijuana States Had Fewer Vaping-Related Lung Injuries, Study Finds

Recent Comments

  • Jean Martinez on Colorado Gov. Signs Cannabis Social Equity Bill
  • kiran on Colorado Gov. Signs Cannabis Social Equity Bill

Archives

  • August 2020
  • July 2020
  • June 2020
  • May 2020
  • April 2020
  • March 2020
  • February 2020
  • January 2020
  • December 2019
CBD Guide

© 2020 CBDGuide.io, All Rights Reserved.

Site Navigation

  • Affiliate Disclaimer
  • Privacy Policy
  • Terms of Use
  • Contact us

Follow Us

No Result
View All Result
  • Home
  • Education
  • Guides
  • Reviews
  • News

© 2020 CBDGuide.io, All Rights Reserved.

Welcome Back!

Login to your account below

Forgotten Password?

Create New Account!

Fill the forms below to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
0
0
Would love your thoughts, please comment.x
()
x
| Reply