The Scotts Miracle-Gro Company (NYSE: SMG) announced it has redeemed $250 million in senior notes, renewed a credit facility, and begun share repurchases, according to a company press release.

The company redeemed all outstanding 5.250% senior notes due 2026 on September 11, 2026, funding the redemption through a combination of revolver debt and fiscal year 2026 excess free cash flow.

ScottsMiracle-Gro also renewed its $750 million accounts receivable facility with JPMorgan Chase Bank, N.A., extending the maturity date to August 31, 2027.

The company executed $25 million in share repurchases during August, marking the beginning of a $500 million share repurchase program previously authorized by its board of directors. The company stated that future repurchases will remain secondary to ongoing debt reduction efforts and will depend on market conditions.

ScottsMiracle-Gro reaffirmed its Fiscal 2026 guidance, which includes U.S. Consumer net sales low single-digit growth, non-GAAP adjusted gross margin of at least 32%, non-GAAP adjusted net income per share from continuing operations of $4.30 to $4.45, non-GAAP adjusted EBITDA mid single-digit growth, and free cash flow of $275 million. The company said it expects the free cash flow target to drive its leverage ratio down to the high 3s.

The company's fiscal year closes September 30, 2026, with full-year financial results scheduled for release on November 4, 2026.