02:16 PM EDT, 07/16/2024 (MT Newswires) -- Scotts Miracle-Gro ( SMG ) rose 4.6% in Tuesday afternoon trading after the company said it is on course to meet the revised fiscal year 2024 guidance issued in June.

The company said it is encouraged by consumer engagement with the strength of year-over-year point-of-sale unit growth of 10% through June despite weather and macroeconomic challenges.

The company also outlined fiscal 2025 through fiscal 2027 plans to achieve an average annual growth rate of 3% and a return to non-GAAP adjusted gross margin rates above 30% due to increased sales volume and better product mix.

Price: 64.87, Change: +2.84, Percent Change: +4.58