---
schema_version: "secwatch.filing_event.v1"
accession: "0001157523-23-000131"
form_type: "8-K"
ticker: "CENT"
cik: "0000887733"
company_name: "CENTRAL GARDEN & PET CO"
filed_at: "2023-01-31T23:59:59+00:00"
generated_at: "2026-06-20T06:11:28.729053+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

# Central Garden & Pet Q1 net sales down 5% to $628M; posts $0.16 loss per share; maintains FY EPS outlook $2.60-$2.80

## Summary
- Net sales $628M (-5% YoY); net loss $8M vs income $9M; loss per share $0.16 vs EPS $0.16.
- Garden segment operating loss of $11M vs income $6M; margin (5.1%) vs 2.7% YoY.
- Pet segment net sales $416M (-5%), operating margin 9.5% vs 10.4%; driven by discontinued private label and lower durable demand.
- Cash $88M vs $296M a year ago; repurchased ~251K shares for $9M; leverage ratio 3.1x vs 2.9x.
- Maintains FY2023 EPS guidance $2.60-$2.80; expects capex significantly below FY2022; 53-week year.

## SEC filing metadata
- accession: 0001157523-23-000131
- form_type: 8-K
- ticker: CENT
- cik: 0000887733
- company_name: CENTRAL GARDEN & PET CO
- filed_at: 2023-01-31T23:59:59+00:00
- event_type: earnings
- sentiment: negative
- materiality_score: 0.7
- calibrated_materiality_score: 0.7
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/887733/000115752323000131/0001157523-23-000131-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/887733/000115752323000131/a53294188.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001157523-23-000131
- JSON: https://secwatch.observer/filing/0001157523-23-000131.json
- Plain text: https://secwatch.observer/filing/0001157523-23-000131.txt

## Key facts
- Earnings Releases
  CENTRAL GARDEN & PET CO reported first quarter fiscal 2023 ended December 24, 2022 results: revenue $628 million, net income $8 million, EPS $0.16. Guidance reaffirmed.
  - Period: first quarter fiscal 2023 ended December 24, 2022
  - Revenue: $628 million
  - Net income: $8 million
  - EPS: $0.16
  - Guidance: reaffirmed
  - Result: reported results
  source text: Net sales were $628 million compared to $661 million a year ago, a decline of 5%. Gross margin was 27.4% compared to 30.0% a year ago. The decline was driven primarily by the Garden segment largely due to cost inflation and unfavorable overhead absorption due to lower sales, partially offset by pricing actions. Operating income was $0.4 million compared to $26 million a year ago, and operating margin was 0.1% compared to 4.0% in the prior year. The operating margin decline was primarily driven by the Garden segment largely due to cost inflation and overhead absorption pressures from lower sales, partially offset by lower commercial spend. Net interest expense of $14 million was in line with the prior year quarter. The Company's net loss was $8 million compared to net income of $9 million a year ago. Loss per share was $0.16 compared to earnings per share of $0.16 in the prior year quarter.
  evidence_url: https://www.sec.gov/Archives/edgar/data/887733/000115752323000131/0001157523-23-000131-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.