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Sep 28, 2024
Central Garden & Pet Q4 2024 Earnings Report
Central Garden & Pet's Q4 performance was impacted by lower sales and a challenging environment, while also making progress on cost savings initiatives.
Key Takeaways
Central Garden & Pet reported a decrease in net sales and a net loss for the fourth quarter of fiscal year 2024, impacted by an extra week in the prior year quarter and soft demand. The company is focused on productivity and commercial initiatives to drive profitable growth in fiscal 2025.
Net sales decreased by 11% compared to the prior year, with organic net sales down 13%.
The company reported an operating loss of $32 million, compared to an operating income of $9 million in the prior year.
Loss per share was $0.51, compared to earnings per share of $0.04 in the prior year.
Gross margin contracted by 110 basis points to 25.2%, primarily due to the impairment of grass seed inventory.
Revenue by Segment
Forward Guidance
Central expects fiscal 2025 non-GAAP EPS to be $2.20 or better, taking into consideration deflationary pressure, evolving consumer behavior, and the challenging retail environment.
Challenges Ahead
- Deflationary pressure in certain commodity businesses
- Evolving consumer behavior
- Macroeconomic and geopolitical uncertainty
- Challenging brick-and-mortar retail environment
- Excludes the impact of any acquisitions, divestitures or restructuring activities
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
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