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Dec 28, 2019
Central Garden & Pet Q1 2020 Earnings Report
Central Garden & Pet's first quarter performance was in line with expectations, with sales increasing due to acquisitions but offset by headwinds such as customer purchase timing and business exits, resulting in a net loss.
Key Takeaways
Central Garden & Pet Company reported a 4.5% increase in net sales to $482.8 million for the fiscal first quarter of 2020, driven by recent acquisitions. However, the company experienced a net loss of $4.4 million, or $0.08 per share, compared to a net income of $1.8 million, or $0.03 per share, in the same quarter last year. The results were impacted by factors such as unfavorable product mix, lower volumes, and increased expenses.
Net sales increased by 4.5% to $482.8 million, primarily driven by acquisitions.
The company's net loss was $4.4 million, resulting in a loss per share of $0.08.
Gross margin declined by 100 basis points to 27.2% due to unfavorable product mix and lower volumes.
The company continues to expect fiscal 2020 earnings per diluted share to be at, or modestly above, the $1.61 earned in the prior year.
Central Garden & Pet
Central Garden & Pet
Central Garden & Pet Revenue by Segment
Revenue by Segment
Garden Segment Revenue
CapyFin.comPet Segment Revenue
CapyFin.com Forward Guidance
The Company continues to expect fiscal 2020 earnings per diluted share to be at, or modestly above, the $1.61 earned in the prior year. The guidance is inclusive of significant incremental investment intended to support sustainable organic growth in the years ahead.
Revenue & Expenses
Visualization of income flow from segment revenue to net income