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Jun 27, 2020
Central Garden & Pet Q3 2020 Earnings Report
Reported record financial results for Q3 2020.
Key Takeaways
Central Garden & Pet announced record financial results for Q3 2020, with net sales increasing by 18.0% to $833.5 million and diluted EPS rising to $1.27. The company's performance was driven by organic strength in both the Garden and Pet segments.
Total net sales increased 18.0% to $833.5 million.
Diluted EPS increased to $1.27, a $0.47 increase year-over-year.
Operating income increased to $104.6 million from $68.9 million.
Company projects full year 2020 EPS to be at or above $1.90.
Central Garden & Pet
Central Garden & Pet
Forward Guidance
Central Garden & Pet projects full year 2020 EPS to be at or above $1.90, representing strong growth over prior year EPS of $1.61. The company anticipates a slight loss in the final quarter of fiscal 2020 due to it typically being a smaller earnings quarter and heightened investment spending.
Positive Outlook
- Full year 2020 EPS is projected to be at or above $1.90.
- This represents strong growth over prior year EPS of $1.61.
- Company to unveil its new, long-term strategy, named Vision2025, at a virtual Investor Day in late November 2020.
- The virtual event will include an overview of the new strategy.
- The virtual event will include commentary from key leaders and a live Q&A session.
Challenges Ahead
- Company's fiscal fourth quarter is generally a smaller earnings quarter.
- Heightened investment spending is planned for Q4.
- The company anticipates a slight loss in the final quarter of fiscal 2020.
- Uncertainties related to the impact of the COVID-19 pandemic on the business.
- Fluctuations in market prices for seeds and grains.