Central Garden & Pet Q2 EPS $0.90 vs $1.27; sales down 5% to $909M; FY23 EPS guidance $2.35+

CENTRAL GARDEN & PET CO

2023-Q2 EPS reported $0.74 revenue$1,536,667,000

Net sales $909M, down 5% YoY; GAAP EPS $0.90 vs $1.27; adjusted EBITDA $107M vs $131M.
Pet segment sales $475M (-5%); Garden segment $434M (-5%), hit by poor spring weather and retailer inventory shifts.
Gross margin 28.6% vs 30.1%; operating margin 8.6% vs 11.2% due to Garden overhead absorption and input costs.
Fiscal 2023 EPS guidance of $2.35 or better; expects second-half growth; multi-year cost and simplicity program underway.
Cash $61M, debt $1.2B; leverage ratio 3.3x; repurchased ~75,000 shares for $2.7M during quarter.

item 2.02 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.95

CENTRAL GARDEN & PET CO reported second quarter fiscal 2023 ended March 25, 2023 results: revenue $909 million, net income $48 million, EPS $0.90. Guidance reaffirmed.

Period: second quarter fiscal 2023 ended March 25, 2023
Revenue: $909 million
Net income: $48 million
EPS: $0.90
Guidance: reaffirmed
Result: reported results

Exact text from the filing

Central Garden & Pet Announces Q2 Fiscal 2023 Financial Results Fiscal 2023 Q2 net sales of $909 million Fiscal 2023 Q2 earnings per share of $0.90 Expects fiscal 2023 EPS of $2.35 or better

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Source: SEC EDGAR

accession 0001157523-23-000700

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