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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.
Central Garden & Pet
Central Garden & Pet
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