earnings
confidence high
sentiment neutral
materiality 0.75
Central Garden & Pet Q2 net sales up 2% to $954M, diluted EPS $1.27, reaffirms FY22 EPS $3.10+
CENTRAL GARDEN & PET CO
2022-Q2 EPS reported
$1.44
revenue$1,615,768,000
- Net sales $954M (+2% YoY); organic declined 3.5%. Gross margin 30.1% (+100 bps). Operating income $107M (+2%).
- Diluted EPS $1.27 (down $0.05 YoY); adjusted EBITDA $131M (+2%).
- Garden segment: sales $457M (+3%), op income $71M (+7%); Pet segment: sales $498M (+1%), op income $61M (-2%).
- Maintains FY2022 GAAP EPS guidance of $3.10 or better; repurchased ~227k shares for $9.4M in Q2.
- Cash from ops used $180M (vs $84M prior) due to inventory build for supply chain; total debt $1.2B, leverage 2.9x.