earnings
confidence high
sentiment neutral
materiality 0.65
Central Garden & Pet Q3 net sales $996M (-3% YoY); GAAP EPS $1.19 vs $1.25
CENTRAL GARDEN & PET CO
2024-Q3 EPS reported
$2.13
revenue$2,530,971,000
- Non-GAAP EPS $1.32 vs $1.40 a year ago; Pet segment sales up 1%, Garden down 6%.
- Gross margin expanded 70 bps to 31.8% on Cost & Simplicity program.
- Maintains FY2024 non-GAAP EPS guidance of $2.00 or better ($2.50 pre-stock dividend).
- Expects $15-20M grass seed inventory write-down in Q4; pottery wind-down incurred $11.1M one-time costs.
- Cash from operations $286M; total debt $1.2B; gross leverage 3.0x.