Why Scotts Miracle-Gro Surged 15% in May

Lee Samaha, The Motley Fool
Why Scotts Miracle-Gro Surged 15% in May

Shares in lawn and garden care products company Scotts Miracle-Gro (NYSE: SMG) rose 14.9% in May, according to data provided by S&P Global Market Intelligence. While the whopping 51% sales increase at Hawthorne Gardening (a subsidiary of Scotts Miracle-Gro specializing in hydroponics products often used in cannabis production) in the first half caught the eye, the U.S. consumer segment (outdoor lawn and garden products) also rose 11% in the first half. As a reminder, Scotts' sales tend to be highly seasonal with around 75% of them coming in the second and third quarter.