8-K
filed November 22, 2022, 6:59 PM ET
ticker CENT
CIK 0000887733
earnings
confidence high
sentiment neutral
materiality 0.65
Central Garden & Pet reports FY2022 EPS $2.80, guides FY2023 EPS $2.60-$2.80
CENTRAL GARDEN & PET CO
2022-FY EPS reported
$2.80
revenue$3,338,588,000
- FY2022 net sales $3.3B (+1% YoY); diluted EPS $2.80 (up from $2.75).
- Q4 net sales $707M (-4% YoY); net loss $2M vs $3M loss prior year.
- Pet segment Q4 sales $440M (-4%) but operating margin improved to 9.2% from 6.9%.
- FY2023 GAAP EPS guidance $2.60-$2.80; 53-week year; capex expected significantly below FY2022.
- Cash used by operations $34M vs $251M provided prior year; inventory build to mitigate supply chain.
Key facts
Extracted from this filing and checked against the source text.
Earnings Releases
SEC 8-K Item 2.02
confidence 0.9
CENTRAL GARDEN & PET CO reported the fourth quarter ended September 24, 2022 results: revenue $707 million, net income $2.0 million, EPS $0.04.
- Period
- the fourth quarter ended September 24, 2022
- Revenue
- $707 million
- Net income
- $2.0 million
- EPS
- $0.04
- Result
- reported results
Exact text from the filing
Net sales decreased 4% to $707 million compared to $739 million in the fourth quarter of fiscal 2021. Gross margin decreased 60 basis points to 28.2% as the positive effect of pricing actions was more than offset by substantial inflationary cost pressure and lower sales volume. Operating income was $13 million, an increase of 34% compared to $10 million in the fourth quarter of fiscal 2021. Operating margin was 1.8%, an increase of 50 basis points compared to 1.3% in the prior year quarter. Other expense was $2.3 million compared to $1.9 million in the fourth quarter of fiscal 2021. Net interest expense of $14 million for the fourth quarter was in line with the prior-year quarter. This resulted in a net loss of $2.0 million compared to a net loss of $3.0 million in the fourth quarter of fiscal 2021, and a diluted loss per share of $0.04 compared to a diluted loss per share of $0.06 in the prior year quarter.
View on SEC.gov
Earnings Releases
SEC 8-K Item 2.02
confidence 0.9
CENTRAL GARDEN & PET CO reported the fiscal year ended September 24, 2022 results: revenue $3.3 billion, net income $152 million, EPS $2.80.
- Period
- the fiscal year ended September 24, 2022
- Revenue
- $3.3 billion
- Net income
- $152 million
- EPS
- $2.80
- Result
- reported results
Exact text from the filing
Net sales were $3.3 billion, an increase of 1% compared to the prior year, driven by the Company's recent acquisitions. Net sales grew at a 12% three-year CAGR from $2.4 billion in fiscal 2019. Organic net sales decreased 3%. Net sales for the Pet segment were $1.9 billion, a decrease of 1% compared to a year ago, unfavorably impacted by SKU rationalization and the purposeful decision to exit low-profit private label product lines. Net sales for the Pet segment grew at a 9% three-year CAGR compared to $1.5 billion in fiscal 2019. Net sales for the Garden segment increased 4% to $1.5 billion compared to $1.4 billion in the prior year and at a 17% three-year CAGR compared to $923 million in fiscal 2019. Despite significant inflationary headwinds across commodities, freight and labor, gross margin increased 30 basis points to 29.7% compared to 29.4% a year ago. The Company was able to offset these headwinds through a combination of pricing actions, favorable product mix and gross producti
View on SEC.gov
Earnings Releases
SEC 8-K Item 2.02
confidence 0.9
CENTRAL GARDEN & PET CO reported fiscal 2023 results: EPS $2.60 to $2.80. Guidance initiated.
- Period
- fiscal 2023
- EPS
- $2.60 to $2.80
- Guidance
- initiated
- Result
- guidance update
Exact text from the filing
Initial outlook for fiscal 2023 EPS in the range of $2.60 to $2.80
View on SEC.gov
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