secwatch.observer — SEC 8-K summary
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Issuer:     CENTRAL GARDEN & PET CO (CENT)
CIK:        0000887733
Form:       8-K
Filed at:   2023-01-31T23:59:59+00:00
Accession:  0001157523-23-000131
Event type: earnings
Sentiment:  negative
Materiality: 0.70
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/887733/000115752323000131/0001157523-23-000131-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/887733/000115752323000131/a53294188.htm
  HTML page:      https://secwatch.observer/filing/0001157523-23-000131

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