Why is Scotts Miracle-Gro stock rallying today?

Scotts Miracle-Gro (SMG) shares rose 1.8% pre-open after the company held Investor Day 2026 and set mid-range targets for FY2027-2029, including 2% to 4% average annual net sales growth, adjusted EPS growth of 5% to 8%, and free cash flow above $275 million. Stifel raised its FY2026 EPS estimate to $4.44 and lifted its price target to $76.

Strategic Shift and Operational Progress Management is executing a fundamental shift toward 'SMG 2.0,' prioritizing quality earnings and margin expansion over aggressive volume growth to ensure sustainable long-term value. The company deliberately exited approximately $100 million in low-margin commodity mulch and soil sales to reallocate resources toward high-margin branded products.

Scotts Miracle-Gro shares rose 1.4% pre-open after the company reported fiscal Q3 EPS of $2.82 versus $2.48 consensus, with revenue of $1.17B in line. It updated FY2026 EPS guidance to $4.30 to $4.45 and declared a $0.66 quarterly dividend payable Sept. 4. The report was the first under new CEO Nate Baxter.

SCOTTS MIRACLE-GRO CO (SMG) filed an SEC Form 8-K — Results of Operations and Financial Condition. Exhibit 99.1 The Scotts Miracle-Gro Company NEWS ScottsMiracle-Gro Reports Third Quarter Results; Updates Full-Year Outlook Reflecting Accelerated EPS Growth Company raises its full-year non-GAAP adjusted EPS from continuing operations guidance to $4.30 to $4.45, up from the prio

Xenon Pharmaceuticals (XENE) shares dropped 16% in after-hours trading after pausing enrollment in psychiatry trials due to neuropsychiatric adverse events. The pause is precautionary, and ongoing epilepsy studies are unaffected. The company filed an NDA for azetukalner in focal seizures, citing positive trial data. Topline data for MDD study expected in Q1 2027.

The US State Department announced a $24.3B deal to sell 48 F-35 fighter jets to Saudi Arabia, subject to Congress approval. Lockheed Martin (LMT), the manufacturer, saw a 0.5% stock slip despite the potential deal. The sale aims to bolster Saudi defense capabilities and aligns with US national security goals, but faces scrutiny over Israel's military edge. LMT stock is up 11% year-to-date.