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Central Garden & Pet(CENTA) - 2024 Q4 - Annual Results
2024-11-25 21:17
Exhibit 99.1 CENTRAL GARDEN & PET ANNOUNCES FOURTH QUARTER AND FISCAL YEAR 2024 FINANCIAL RESULTS Fiscal 2024 net sales of $3.2 billion vs. $3.3 billion in the prior year Fiscal 2024 GAAP EPS of $1.62 vs. $1.88 a year ago, non-GAAP EPS of $2.13 vs. $2.07 a year ago Expects fiscal 2025 non-GAAP EPS to be $2.20 or better WALNUT CREEK, Calif., – Central Garden & Pet Company (NASDAQ: CENT) (NASDAQ: CENTA) ("Central"), a market leader in the pet and garden industries, today announced results for its fourth quart ...
Analysts Estimate Central Garden (CENTA) to Report a Decline in Earnings: What to Look Out for
ZACKS· 2024-11-11 16:00
Wall Street expects a year-over-year decline in earnings on lower revenues when Central Garden (CENTA) reports results for the quarter ended September 2024. While this widely-known consensus outlook is important in gauging the company's earnings picture, a powerful factor that could impact its near-term stock price is how the actual results compare to these estimates.The stock might move higher if these key numbers top expectations in the upcoming earnings report. On the other hand, if they miss, the stock ...
3 Small-Cap Stocks on the Way to Bigger and Better Days
MarketBeat· 2024-10-05 11:15
In late 2023, many analysts called for 2024 to be the year of a small-cap stock renaissance. These stocks were battered as the Federal Reserve aggressively raised interest rates. Many of these companies rely on borrowing to fund their growth and struggled as the cost of borrowing increased. The Russell 2000 index, which tracks many small-cap stocks, is up 20% in 2024. But not all small-cap stocks participated in that rally. However, with the Federal Reserve suggesting that its 50-basis point cut in Septembe ...
Central Garden & Pet(CENTA) - 2024 Q3 - Quarterly Report
2024-08-08 19:28
PART I. FINANCIAL INFORMATION [Item 1. Financial Statements](index=6&type=section&id=Item%201%2E%20Financial%20Statements) The company's financial statements for Q3 2024 show a 2.6% net sales decrease to $996.3 million and a net income of $79.7 million, with total assets reaching $3.61 billion Condensed Consolidated Balance Sheets Condensed Consolidated Balance Sheet Highlights (in thousands) | Account | June 29, 2024 | Sept 30, 2023 | | :--- | :--- | :--- | | **Assets** | | | | Cash and cash equivalents | $570,398 | $488,730 | | Inventories, net | $784,775 | $838,188 | | Total current assets | $1,910,170 | $1,707,123 | | Total assets | $3,607,878 | $3,378,648 | | **Liabilities & Equity** | | | | Total current liabilities | $521,445 | $457,987 | | Long-term debt | $1,189,366 | $1,187,956 | | Total liabilities | $2,012,098 | $1,925,835 | | Total equity | $1,595,780 | $1,452,813 | Condensed Consolidated Statements of Operations Statement of Operations Highlights (in thousands, except per share data) | Metric | Q3 2024 | Q3 2023 | Nine Months 2024 | Nine Months 2023 | | :--- | :--- | :--- | :--- | :--- | | Net sales | $996,348 | $1,023,269 | $2,530,971 | $2,559,936 | | Gross profit | $317,058 | $318,052 | $774,783 | $749,389 | | Operating income | $115,936 | $122,830 | $217,795 | $201,277 | | Net income | $79,724 | $83,126 | $142,141 | $122,808 | | Diluted EPS | $1.19 | $1.25 | $2.13 | $1.84 | Condensed Consolidated Statements of Cash Flows Cash Flow Summary - Nine Months Ended (in thousands) | Activity | June 29, 2024 | June 24, 2023 | | :--- | :--- | :--- | | Net cash provided by operating activities | $191,804 | $227,566 | | Net cash used in investing activities | ($94,589) | ($41,450) | | Net cash used by financing activities | ($16,007) | ($33,665) | | Net increase in cash | $81,505 | $154,497 | Key Notes to Financial Statements - On November 3, 2023, the Company acquired TDBBS, LLC, a provider of premium natural dog chews and treats, for approximately **$60 million**. This acquisition expands Central's portfolio and enhances its eCommerce capabilities[39](index=39&type=chunk) - In December 2023, the Board approved a stock dividend of one Class A Common Stock share for every four outstanding shares, distributed on February 8, 2024. All share and per-share amounts have been retroactively adjusted[21](index=21&type=chunk) Segment Net Sales (in thousands) | Segment | Q3 2024 | Q3 2023 | Nine Months 2024 | Nine Months 2023 | | :--- | :--- | :--- | :--- | :--- | | Pet | $508,002 | $503,329 | $1,397,454 | $1,394,352 | | Garden | $488,346 | $519,940 | $1,133,517 | $1,165,584 | Segment Operating Income (in thousands) | Segment | Q3 2024 | Q3 2023 | Nine Months 2024 | Nine Months 2023 | | :--- | :--- | :--- | :--- | :--- | | Pet | $83,068 | $59,969 | $189,115 | $154,779 | | Garden | $62,519 | $88,088 | $110,699 | $126,887 | - The company is involved in a legal proceeding with Nite Glow. A retrial on damages for a misappropriation of confidential information claim concluded in March 2024, but no decision has been issued by the court. Management does not expect the outcome to have a material impact[73](index=73&type=chunk) [Management's Discussion and Analysis of Financial Condition and Results of Operations (MD&A)](index=30&type=section&id=Item%202%2E%20Management%27s%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations) MD&A highlights a 2.6% Q3 2024 net sales decrease, driven by the Garden segment, while nine-month operating income grew 8.2% due to margin improvements, with a $15-20 million Q4 inventory write-down anticipated Overall Financial Performance Q3 2024 vs. Q3 2023 Performance (in millions) | Metric | Q3 2024 | Q3 2023 | Change | | :--- | :--- | :--- | :--- | | Net Sales | $996.3 | $1,023.3 | -2.6% | | Organic Net Sales | - | - | -2.9% | | Gross Profit | $317.1 | $318.1 | -0.3% | | Gross Margin | 31.8% | 31.1% | +70 bps | | Operating Income | $115.9 | $122.8 | -5.6% | | Diluted EPS | $1.19 | $1.25 | -4.8% | Nine Months 2024 vs. Nine Months 2023 Performance (in millions) | Metric | YTD 2024 | YTD 2023 | Change | | :--- | :--- | :--- | :--- | | Net Sales | $2,531 | $2,560 | -1.1% | | Gross Profit | $774.8 | $749.4 | +3.4% | | Operating Income | $217.8 | $201.3 | +8.2% | | Diluted EPS | $2.13 | $1.84 | +15.8% | - The company is implementing a 'Cost and Simplicity' program, which involved exiting the pottery business and closing several facilities, resulting in one-time costs of **$11.1 million** in Q3 2024[78](index=78&type=chunk) - A significant decrease in market prices for grass seed will necessitate an inventory write-down, with an anticipated charge of **$15-20 million** in the fourth quarter of fiscal 2024[79](index=79&type=chunk) Segment Performance Analysis - **Pet Segment:** Q3 net sales grew **0.9%** to **$508.0 million**, though organic sales declined **2.2%** due to lower demand for durable goods. Operating income surged **38.5%** to **$83.1 million**, driven by improved gross margin[82](index=82&type=chunk)[85](index=85&type=chunk) - **Garden Segment:** Q3 net sales fell **6.1%** to **$488.3 million**, with organic sales down **3.7%** primarily due to decreased sales in the live plant business. Operating income decreased **29.0%** to **$62.5 million**[82](index=82&type=chunk)[86](index=86&type=chunk) Liquidity and Capital Resources - Net cash provided by operating activities for the nine-month period was **$191.8 million**, a decrease from **$227.6 million** in the prior year, primarily due to changes in working capital[124](index=124&type=chunk) - Total debt outstanding was **$1,189.7 million** as of June 29, 2024, consisting primarily of three series of senior notes due in 2028, 2030, and 2031[127](index=127&type=chunk) - The company has a **$750 million** asset-based revolving credit facility, with approximately **$550 million** in net availability and no borrowings outstanding as of June 29, 2024[131](index=131&type=chunk) - Capital expenditures are anticipated to be approximately **$60 million** in fiscal 2024, with **$33 million** invested through the first nine months[126](index=126&type=chunk) Non-GAAP Financial Measures - The company uses non-GAAP measures to exclude infrequent items like facility closure and business exit costs to provide better comparability of ongoing operating performance[103](index=103&type=chunk)[104](index=104&type=chunk) GAAP vs. Non-GAAP Reconciliation Highlights (Q3 2024, in millions) | Metric | GAAP | Non-GAAP | Difference | | :--- | :--- | :--- | :--- | | Operating Income | $115.9 | $127.1 | +$11.2 | | Net Income | $79.7 | $88.2 | +$8.5 | | Diluted EPS | $1.19 | $1.32 | +$0.13 | [Quantitative and Qualitative Disclosures About Market Risk](index=52&type=section&id=Item%203%2E%20Quantitative%20and%20Qualitative%20Disclosures%20About%20Market%20Risk) No material changes to the company's market risk exposure have occurred since the fiscal year-end 2023 Form 10-K disclosures - There has been no material change in the company's exposure to market risk since the fiscal year-end 2023 Form 10-K report[141](index=141&type=chunk) [Controls and Procedures](index=53&type=section&id=Item%204%2E%20Controls%20and%20Procedures) Management concluded that disclosure controls and procedures were ineffective as of June 29, 2024, due to material weaknesses in IT general controls, with a remediation plan underway - Management concluded that disclosure controls and procedures were not effective as of June 29, 2024[143](index=143&type=chunk) - The ineffectiveness is due to material weaknesses in IT general controls (ITGCs) and controls related to an outsourced service provider for the Live Plant business[144](index=144&type=chunk) - A remediation plan is underway, which includes enhancing control design, hiring additional experienced personnel, and expanding control procedures[145](index=145&type=chunk) PART II. OTHER INFORMATION [Legal Proceedings](index=55&type=section&id=Item%201%2E%20Legal%20Proceedings) The company is involved in ongoing legal proceedings with Nite Glow Industries, with a retrial on damages concluded and a decision pending, not expected to materially impact financials - A retrial on damages in the Nite Glow litigation concluded in March 2024, with a court decision still pending. The company intends to vigorously defend its position[147](index=147&type=chunk) [Risk Factors](index=55&type=section&id=Item%201A%2E%20Risk%20Factors) No material changes to the company's risk factors have been reported since the fiscal year-end 2023 Form 10-K - No material changes from the risk factors disclosed in the Form 10-K for the fiscal year ended September 30, 2023 have been reported[148](index=148&type=chunk) [Unregistered Sales of Equity Securities and Use of Proceeds](index=55&type=section&id=Item%202%2E%20Unregistered%20Sales%20of%20Equity%20Securities%20and%20Use%20of%20Proceeds) During Q3, the company repurchased 46,849 shares for tax coverage on vested restricted stock, with **$82.0 million** remaining under the 2019 repurchase authorization - As of June 29, 2024, the company had **$82.0 million** of authorization remaining under its 2019 share repurchase program[150](index=150&type=chunk) - During the quarter, **46,849 shares** were repurchased, representing shares withheld to cover taxes on vested restricted stock awards[150](index=150&type=chunk)[151](index=151&type=chunk)
Central Garden (CENTA) Q3 Earnings Top Estimates
ZACKS· 2024-08-07 23:21
Central Garden (CENTA) came out with quarterly earnings of $1.32 per share, beating the Zacks Consensus Estimate of $1.25 per share. This compares to earnings of $1.40 per share a year ago. These figures are adjusted for non-recurring items. This quarterly report represents an earnings surprise of 5.60%. A quarter ago, it was expected that this pet and lawn products maker would post earnings of $0.83 per share when it actually produced earnings of $0.99, delivering a surprise of 19.28%. Over the last four q ...
Central Garden & Pet(CENTA) - 2024 Q2 - Quarterly Report
2024-05-09 19:50
PART I. FINANCIAL INFORMATION [Item 1. Financial Statements (Unaudited)](index=4&type=section&id=Item%201.%20Financial%20Statements%20(Unaudited)) This section presents the unaudited condensed consolidated financial statements for Central Garden & Pet Company for the three and six months ended March 30, 2024, and March 25, 2023, encompassing the Balance Sheets, Statements of Operations, Statements of Comprehensive Income, Statements of Cash Flows, and the accompanying Notes to the financial statements | Financial Statement | Period Ended | Total Assets ($ thousands) | Total Liabilities ($ thousands) | Total Equity ($ thousands) | | :--- | :--- | :--- | :--- | :--- | | **Balance Sheet** | Mar 30, 2024 | 3,540,018 | 2,027,851 | 1,512,167 | | | Sep 30, 2023 | 3,378,648 | 1,925,835 | 1,452,813 | | Income Statement | Three Months Ended Mar 30, 2024 ($ thousands) | Three Months Ended Mar 25, 2023 ($ thousands) | Six Months Ended Mar 30, 2024 ($ thousands) | Six Months Ended Mar 25, 2023 ($ thousands) | | :--- | :--- | :--- | :--- | :--- | | **Net Sales** | 900,090 | 909,004 | 1,534,623 | 1,536,667 | | **Operating Income** | 93,447 | 78,041 | 101,859 | 78,447 | | **Net Income** | 61,987 | 48,115 | 62,417 | 39,682 | [Notes to Condensed Consolidated Financial Statements](index=8&type=section&id=Notes%20to%20Condensed%20Consolidated%20Financial%20Statements) The notes provide detailed information supporting the financial statements, covering the basis of presentation, a recent stock dividend, revenue recognition policies, acquisitions, fair value measurements, goodwill and intangible assets, debt structure, segment information, and legal contingencies, with key events including the acquisition of TDBBS, LLC and a one-for-four stock dividend distributed in February 2024 - On November 3, 2023, the Company acquired TDBBS, LLC, a provider of premium natural dog chews and treats, for **approximately $60 million** to expand its portfolio and enhance e-commerce capabilities[167](index=167&type=chunk) - In December 2023, the Board approved a stock dividend of **one Class A Common Stock share for every four outstanding shares**, distributed on **February 8, 2024**; all share and per-share amounts have been retroactively adjusted[126](index=126&type=chunk)[151](index=151&type=chunk) | Debt Instrument | Principal Amount ($ millions) | Interest Rate | Maturity Date | | :--- | :--- | :--- | :--- | | Senior Notes | 400 | 4.125% | April 2031 | | Senior Notes | 500 | 4.125% | October 2030 | | Senior Notes | 300 | 5.125% | February 2028 | | Credit Facility | 750 (Capacity) | SOFR + 1.00%-1.50% | December 2026 | [Management's Discussion and Analysis of Financial Condition and Results of Operations](index=22&type=section&id=Item%202.%20Management's%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations) Management discusses the company's financial performance for the second quarter and first half of fiscal 2024, highlighting a slight decrease in net sales driven by declines in durable pet products, offset by growth in Garden organic sales, while gross margin and operating income improved significantly due to the 'Cost and Simplicity' program, moderating input costs, and strategic exits from certain business lines, also covering liquidity, capital resources, debt structure, and the use of non-GAAP financial measures [Results of Operations](index=31&type=section&id=Results%20of%20Operations) For the second quarter of fiscal 2024, net sales decreased 1.0% to $900.1 million while organic sales decreased 0.7%, with gross margin improving by 240 basis points to 31.0% and operating income rising 19.7% to $93.4 million; for the six-month period, net sales were flat, but operating income increased 29.8% to $101.9 million, driven by cost-saving initiatives and favorable segment performance, particularly in Garden organic sales, despite softness in the Pet segment | Metric | Q2 FY2024 | Q2 FY2023 | Change | YoY Change (%) | | :--- | :--- | :--- | :--- | :--- | | Net Sales | $900.1M | $909.0M | ($8.9M) | (1.0)% | | Gross Profit | $278.9M | $259.6M | $19.3M | 7.4% | | Operating Income | $93.4M | $78.0M | $15.4M | 19.7% | | Net Income | $62.0M | $48.1M | $13.9M | 28.9% | | Diluted EPS | $0.93 | $0.72 | $0.21 | 29.2% | - Q2 organic sales performance varied by segment: Pet organic sales **decreased 3.0%** due to lower demand for durable products, while Garden organic sales **increased 1.9%**, aided by favorable weather and strong performance in live plants and grass seed[245](index=245&type=chunk) - Gross margin for Q2 **increased by 240 basis points**, benefiting from the 'Cost and Simplicity' program, the exit from the private-label pet bed business, and moderating input costs[246](index=246&type=chunk) | Metric | H1 FY2024 | H1 FY2023 | Change | YoY Change (%) | | :--- | :--- | :--- | :--- | :--- | | Net Sales | $1,535M | $1,537M | ($2M) | (0.1)% | | Gross Profit | $457.7M | $431.3M | $26.4M | 6.1% | | Operating Income | $101.9M | $78.5M | $23.4M | 29.8% | | Net Income | $62.4M | $39.7M | $22.7M | 57.2% | [Use of Non-GAAP Financial Measures](index=38&type=section&id=Use%20of%20Non-GAAP%20Financial%20Measures) The company utilizes non-GAAP financial measures, including non-GAAP net income, non-GAAP operating income, adjusted EBITDA, and organic net sales, to supplement its GAAP results by excluding specific items like facility closure costs, thereby providing investors with a clearer view of ongoing operating performance, with reconciliations to comparable GAAP measures provided - Non-GAAP measures for Q2 FY2024 exclude **$5.3 million** in costs related to the closure of a manufacturing facility in Chico, California, and the consolidation of the Southeast distribution network[283](index=283&type=chunk)[221](index=221&type=chunk) | Metric | Q2 FY2024 | Q2 FY2023 | H1 FY2024 | H1 FY2023 | | :--- | :--- | :--- | :--- | :--- | | **GAAP Net Income** | $62.0M | $48.1M | $62.4M | $39.7M | | **Non-GAAP Net Income** | $66.0M | $48.1M | $66.5M | $39.7M | | Adjusted EBITDA Reconciliation ($ thousands) | Q2 FY2024 | Q2 FY2023 | H1 FY2024 | H1 FY2023 | | :--- | :--- | :--- | :--- | :--- | | **Income from operations (GAAP)** | 93,447 | 78,041 | 101,859 | 78,447 | | Depreciation & amortization | 22,812 | 22,109 | 45,357 | 43,801 | | Noncash stock-based compensation | 2,907 | 6,750 | 8,927 | 13,327 | | Facility closures | 5,270 | - | 5,270 | - | | **Adjusted EBITDA (Non-GAAP)** | 124,436 | 106,900 | 161,413 | 135,575 | [Liquidity and Capital Resources](index=42&type=section&id=Liquidity%20and%20Capital%20Resources) The company's primary sources of liquidity are cash from operations and its $750 million credit facility, with total debt at $1.2 billion as of March 30, 2024, and approximately $685 million available under the credit facility; net cash used by operating activities was $94.3 million for the six-month period, a slight improvement from the prior year, and the company believes its liquidity is adequate to meet its needs for at least the next 12 months, including planned capital expenditures of approximately $70 million for fiscal 2024 | Cash Flow Activity ($ millions) | Six Months Ended Mar 30, 2024 | Six Months Ended Mar 25, 2023 | | :--- | :--- | :--- | | Net cash used by operating activities | (94.3) | (97.1) | | Net cash used in investing activities | (80.3) | (30.8) | | Net cash (used) provided by financing activities | (13.2) | 8.6 | - Total debt outstanding was **$1,189.3 million** as of March 30, 2024; the company has a **$750 million** asset-based revolving credit facility with net availability of **approximately $685 million** and no outstanding borrowings as of the quarter's end[268](index=268&type=chunk)[43](index=43&type=chunk) - The company anticipates capital expenditures of **approximately $70 million** in fiscal 2024, primarily for plant and equipment upgrades and IT platform investments[267](index=267&type=chunk) [Quantitative and Qualitative Disclosures About Market Risk](index=35&type=section&id=Item%203.%20Quantitative%20and%20Qualitative%20Disclosures%20About%20Market%20Risk) The company reports that there has been no material change in its exposure to market risk from the information provided in its Annual Report on Form 10-K for the fiscal year ended September 30, 2023 - There has been no material change in the company's exposure to market risk since its last annual report[89](index=89&type=chunk) [Controls and Procedures](index=35&type=section&id=Item%204.%20Controls%20and%20Procedures) Management concluded that as of March 30, 2024, the company's disclosure controls and procedures were not effective due to previously identified material weaknesses in internal control over financial reporting related to IT general controls and controls at an outsourced service provider, with the company actively engaged in a remediation plan to address these weaknesses - Management, including the Principal Executive Officer and Principal Financial Officer, concluded that disclosure controls and procedures were **not effective** as of March 30, 2024[90](index=90&type=chunk) - The ineffectiveness is due to material weaknesses identified as of September 30, 2023, related to **IT general controls** at the Live Plant and Green Garden businesses and controls over an **outsourced revenue process service provider**[91](index=91&type=chunk) - An ongoing remediation plan includes enhancing control procedures, improving personnel training, hiring additional experienced staff, and expanding controls related to revenue processes for the Live Plants business[75](index=75&type=chunk) PART II. OTHER INFORMATION [Legal Proceedings](index=36&type=section&id=Item%201.%20Legal%20Proceedings) The company is involved in a lawsuit with Nite Glow Industries, Inc., where a prior verdict was partially overturned on appeal, leaving a single claim for misappropriation of confidential information, and a retrial on damages concluded in March 2024 with a decision pending, though the company does not believe the final resolution will have a material impact on its financial statements - The ongoing legal proceeding involves a claim by Nite Glow Industries for **misappropriation of confidential information**; a retrial to determine damages concluded in **March 2024**, with a court decision pending[77](index=77&type=chunk)[217](index=217&type=chunk) - Management intends to vigorously defend its position and believes the ultimate outcome will **not materially affect** the company's consolidated financial statements, though litigation outcomes are inherently uncertain[77](index=77&type=chunk)[78](index=78&type=chunk)[79](index=79&type=chunk) [Risk Factors](index=37&type=section&id=Item%201A.%20Risk%20Factors) There have been no material changes to the risk factors previously disclosed in the company's Annual Report on Form 10-K for the fiscal year ended September 30, 2023 - No material changes from the risk factors disclosed in the Form 10-K for the fiscal year ended September 30, 2023, have been identified[80](index=80&type=chunk) [Unregistered Sales of Equity Securities and Use of Proceeds](index=37&type=section&id=Item%202.%20Unregistered%20Sales%20of%20Equity%20Securities%20and%20Use%20of%20Proceeds) This section details the company's repurchase of its equity securities during the fiscal quarter ended March 30, 2024, with a total of 117,964 shares repurchased at an average price of $36.82 per share, primarily related to tax withholding for vested restricted stock, and as of the quarter's end, $82.0 million remained available under the 2019 share repurchase authorization | Period | Total Shares Purchased | Average Price Paid per Share | | :--- | :--- | :--- | | Dec 31, 2023 - Feb 3, 2024 | 7,508 | $33.16 | | Feb 4, 2024 - Mar 2, 2024 | 99,225 | $37.14 | | Mar 3, 2024 - Mar 30, 2024 | 11,231 | $36.43 | | **Total** | **117,964** | **$36.82** | - As of March 30, 2024, the company had **$82.0 million** of authorization remaining under its 2019 Repurchase Authorization program[97](index=97&type=chunk) [Exhibits](index=38&type=section&id=Item%206.%20Exhibits) This section lists the exhibits filed with the Form 10-Q, which include certifications from the Principal Executive Officer and Principal Financial Officer as required by the Sarbanes-Oxley Act, a list of guarantor subsidiaries, and financial statements formatted in Inline XBRL - Exhibits filed include **CEO and CFO certifications** pursuant to Section 302 of the Sarbanes-Oxley Act[83](index=83&type=chunk)[101](index=101&type=chunk) - The filing also includes financial data formatted in **Inline XBRL** as required by the SEC[102](index=102&type=chunk)
Central Garden (CENTA) Q2 Earnings and Revenues Surpass Estimates
Zacks Investment Research· 2024-05-08 22:36
Central Garden (CENTA) came out with quarterly earnings of $0.99 per share, beating the Zacks Consensus Estimate of $0.83 per share. This compares to earnings of $0.72 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 19.28%. A quarter ago, it was expected that this pet and lawn products maker would post a loss of $0.14 per share when it actually produced earnings of $0.01, delivering a surprise of 107.14%.Over the last four qua ...
Central Garden & Pet(CENTA) - 2024 Q2 - Quarterly Results
2024-05-08 20:19
"We delivered a solid second quarter with earnings per share well ahead of prior year. We are particularly pleased with the progress on our Cost and Simplicity program," said Beth Springer, Interim CEO of Central Garden & Pet. "With a large part of the garden season still in front of us and some continuing external challenges, we are maintaining our outlook for the fiscal year. Importantly, our teams remain focused on executing our long-term strategy." Fiscal 2024 Q2 net sales of $900 million compared to $9 ...
Is Central Garden & Pet (CENTA) Stock Outpacing Its Consumer Discretionary Peers This Year?
Zacks Investment Research· 2024-05-02 14:46
Investors interested in Consumer Discretionary stocks should always be looking to find the best-performing companies in the group. Is Central Garden (CENTA) one of those stocks right now? Let's take a closer look at the stock's year-to-date performance to find out.Central Garden is one of 286 companies in the Consumer Discretionary group. The Consumer Discretionary group currently sits at #14 within the Zacks Sector Rank. The Zacks Sector Rank considers 16 different groups, measuring the average Zacks Rank ...
Are Investors Undervaluing Central Garden & Pet (CENTA) Right Now?
Zacks Investment Research· 2024-04-29 14:46
Here at Zacks, we focus on our proven ranking system, which places an emphasis on earnings estimates and estimate revisions, to find winning stocks. But we also understand that investors develop their own strategies, so we are constantly looking at the latest trends in value, growth, and momentum to find strong companies for our readers.Of these, perhaps no stock market trend is more popular than value investing, which is a strategy that has proven to be successful in all sorts of market environments. Value ...