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Jun 25, 2022
Central Garden & Pet Q3 2022 Earnings Report
Central Garden & Pet's third quarter earnings were announced, with EPS exceeding the prior year quarter by two cents, despite a challenging environment.
Key Takeaways
Central Garden & Pet reported a 2% decrease in net sales to $1,015 million, primarily due to softness in the garden segment. Diluted GAAP earnings per share increased by $0.02 to $1.39. The company maintains its outlook for fiscal 2022 diluted GAAP EPS to be at or above the prior year.
Net sales decreased 2% to $1,015 million.
Diluted GAAP EPS increased $0.02 to $1.39.
Operating income grew 1% to $114 million.
Company expects fiscal 2022 GAAP EPS to be at or above prior year.
Forward Guidance
The Company expects fiscal 2022 GAAP EPS to be at or above prior year, taking into account increasing costs and a return to more normalized consumer demand patterns.
Positive Outlook
- Anticipated pricing actions across the Company's portfolio
- Investments in capacity expansion
- Investments in brand building
- Investments in consumer insights
- Investments in innovation and eCommerce
Challenges Ahead
- Increasing costs for commodities
- Increasing costs for freight
- Geopolitical environment
- Increasing labor costs
- Return to more normalized consumer demand patterns
Historical Earnings Impact
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Avg. Return Before/After Earnings
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