The Scotts Miracle-Gro Company (NYSE:SMG) Q4 2019 Earnings Conference Call - Final Transcript

Nov 06, 2019 • 09:00 am ET


The Scotts Miracle-Gro Company (NYSE:SMG) Q4 2019 Earnings Conference Call - Final Transcript


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Good day and welcome to the 2019 Fourth Quarter Earnings Conference Call. At this time, I would like to turn the conference over to Jim King. Please go ahead, sir.

Jim King

Thank you, Anita. Good morning everyone and welcome to Scotts Miracle-Gro Fourth Quarter Conference Call. With me here this morning in Marysville Ohio is our Chairman and CEO, Jim Hagedorn and our CFO Randy Coleman, also present Mike Lukemire, our President and Chief Operating Officer, Chris Hagedorn, the General Manager of our Hawthorne Gardening subsidiary and other members of the management team.

In a moment, Jim and Randy will share some brief prepared remarks regarding our 2019 performance and our 2020 outlook. Afterward, we'll open the call for your questions. In the interest of time, we ask that you keep to one question and one follow-up. I've already scheduled time with many of you after the call to fill in the gaps, anyone else who wants to set up some Q&A time, please call me directly at 937-578-5622 and we'll work to set us some time as quickly as we can.

Before we move on, I'd like to take care of a bit of housekeeping. Randy and I will be in New York on December 3rd participating in the Morgan Stanley Consumer and Retail Conference which will be held at the Crowne Plaza at Time Square. The two of us will participate in one of the conferences, so-called Fireside Chat at 10:00 AM, followed by a 30-minute breakout session and a series of one-on-one meetings. I would not anticipate to issue any new information at this event but instead to provide color and insight into our long-term strategy and the issues that informed our outlook for fiscal 2020.

With that, let's move on to today's call. As always we expect to make forward-looking statements this morning. So I want to caution you that our actual results could differ materially from what we say. Investors should familiarize themselves with the full range of risk factors that could impact our results and those are listed in our Form 10-K which is filed with the Securities and Exchange Commission. I also want to remind everyone that today's call is being recorded. An archived version of the call and transcript will be available on our website.

Let's get started. And to do so, I will turn the call over to Jim Hagedorn.

Jim Hagedorn

Thanks, Jim and good morning everyone. When we first outlined our plans for 2019 on this call a year ago, I emphasize two points, first I discussed the fact that we had just completed an extensive review of our strategy after a disappointing performance in 2018. The review of our strategy reinforce for us that we made the right choices and we were on the right path. I told you we would not deviate from the play we were running that conclusion led to my second point that our success in 2019 would be determined by a single word execution. So it's with