Welcome to our dedicated page for Central Garden and Pet Co news (Ticker: CENT), a resource for investors and traders seeking the latest updates and insights on Central Garden and Pet Co stock.
Central Garden & Pet Co (symbol: CENT) is a leading innovator, marketer, and producer of quality branded products for both consumer and professional use in the lawn and garden, as well as pet supplies markets. For over forty years, Central Garden & Pet Co has been dedicated to helping consumers beautify their outdoor living spaces and fostering healthy relationships with their pets.
The company operates through two primary segments: the Pet Segment and the Garden Segment. Central Garden & Pet's extensive product portfolio includes over sixty-five trusted brands such as Pennington, Nylabone, Kaytee, Amdro, and Aqueon. These brands are known for their high-quality, innovative products aimed at promoting greener lawns, bigger blooms, healthier pets, and stronger communities.
Headquartered in Walnut Creek, California, Central Garden & Pet Co also boasts manufacturing and distribution facilities across North America and Europe. The company's commitment to innovation, quality, and service forms the foundation of its success, supported by a passionate team with an entrepreneurial growth mindset.
In recent news, Central Garden & Pet Co continues to expand its market presence and product offerings. Updates from its various brands and segments highlight ongoing projects and achievements, reinforcing the company's role as a leader in the lawn and garden and pet supplies markets.
Central Garden & Pet Co remains committed to nurturing happy and healthy homes, making it an essential player in the industry for consumers and professionals alike.
Central Garden & Pet Company (NASDAQ: CENT, CENTA) has announced key leadership changes effective September 29, 2024. Niko Lahanas, former CFO, has been appointed as the new Chief Executive Officer and will join the Board of Directors. Brad Smith, previously CFO of the Pet segment, will succeed Lahanas as the new Chief Financial Officer.
Lahanas, with nearly 18 years of experience at Central, replaces Beth Springer, who served as Interim CEO since October 2023. Springer will return to her role as Lead Independent Director. The company's founder and Chairman, Bill Brown, expressed confidence in Lahanas' ability to lead Central into its next growth phase, citing his instrumental role in setting strategic direction and driving performance as CFO since May 2017.
Nylabone, a brand in the Central Garden & Pet portfolio (NASDAQ: CENT), has been named a 2024-2025 Top Performer by the Pet Sustainability Coalition (PSC). This award recognizes companies in the pet industry committed to social and environmental responsibility. Nylabone, which joined PSC as an Advocate member in 2022, is among 20 leading accredited brands demonstrating commitment to sustainability across all 17 United Nations Sustainable Development Goals for 2030.
Nylabone's sustainability efforts have already yielded significant results:
- Saved about 600 cubic feet of landfill space with recyclable packaging
- Prevented 1.1 million pounds of greenhouse gas annually with electro-hydraulic machines
- Generated nearly 400,000 kilowatt hours of clean energy from rooftop solar systems
These efforts support Central Garden & Pet's Impact strategy, focused on protecting the planet, cultivating communities, and empowering employees.
Central Garden & Pet (NASDAQ: CENT, CENTA), a market leader in Pet and Garden industries, has announced its participation in the Barclays 17th Annual Global Consumer Staples Conference. The event is scheduled for Tuesday, September 3, 2024. Niko Lahanas, the company's CFO, will be hosting one-on-one meetings during the conference.
This participation provides an opportunity for Central Garden & Pet to engage with investors and industry professionals, potentially discussing the company's performance, strategies, and outlook. The Barclays conference is a significant event in the consumer staples sector, offering valuable networking and information-sharing opportunities for participating companies.
Central Garden & Pet (NASDAQ: CENTA) reported Q3 fiscal 2024 results with net sales of $996 million, down 3% from $1,023 million last year. GAAP EPS was $1.19, compared to $1.25 a year ago, while non-GAAP EPS was $1.32 vs. $1.40 last year. The company maintains its outlook for fiscal 2024 non-GAAP EPS of $2.00 or better.
Key highlights include:
- Gross margin expanded by 70 basis points to 31.8%
- Operating income decreased 6% to $116 million
- Pet segment sales increased 1% to $508 million
- Garden segment sales decreased 6% to $488 million
- Cash balance at quarter-end was $570 million
The company continues to advance its Cost and Simplicity program to improve efficiency and simplify operations.
Barkworthies, a natural dog chew brand under Central Garden & Pet (NASDAQ: CENT, CENTA), has introduced single-count bulk options for its hickory smoked chews. Launched in May 2023, these treats are crafted in small batches at their Richmond, Virginia facility using a patent-pending smoking process. The new format offers pet parents flexibility to choose varieties fitting their dog's needs and budget.
The line features 10 products suitable for dogs of all sizes, including Duck Feet, Bully Sticks, and Yak Cheese, with prices starting under $2. These chews are made with single or ingredients, free from artificial flavors and additives. New merchandising displays allow customers to experience the hickory smoked aroma while shopping.
Central Garden & Pet Company (NASDAQ: CENT, CENTA), a market leader in the Pet and Garden industries, has announced it will release its fiscal 2024 third quarter financial results on Wednesday, August 7, 2024, after market close. The company will host a conference call at 4:30 p.m. Eastern Time on the same day to discuss the results and provide a business update.
The call will be led by Beth Springer, Interim CEO, and Niko Lahanas, CFO. Investors and analysts can access the live webcast and related materials at http://ir.central.com. For those preferring to participate by phone, the dial-in number is +1 (201) 689-8345 for both domestic and international callers.
Nylabone, part of the Central Garden & Pet portfolio (NASDAQ: CENT), sponsored the reunification of retired U.S. Air Force explosive detection dog Maci with her former handler, Senior Airman Hadiya. The event took place in late May in Oklahoma, facilitated by American Humane. The sponsorship covered transportation and veterinary services for Maci. This initiative is part of Nylabone's ongoing partnership with American Humane, which started in 2018. Nylabone also supports shelter dogs and service animals through monetary donations and chew toy contributions. The Nylabone Cares program contributes to numerous local and national charities, promoting community health, employee well-being, and sustainability.
Aqueon, a brand under Central Garden & Pet (NASDAQ: CENT, CENTA), has launched its first app, BlueIQ, to support freshwater and saltwater fish keepers. The app provides guides, tips, and tricks for aquarium maintenance, aiming to simplify the care process for both beginners and experienced hobbyists. Key features include compatibility with Aqueon and Coralife Smart LED lights, offering full spectrum lighting, color customization, and 24/7 programmable scheduling. The app also sends maintenance alerts and feeding reminders, ensuring optimal fish care. The BlueIQ app is available for free on Apple and Google Play stores.
ARDEN, a top outdoor patio cushion brand under Central Garden & Pet Company (NASDAQ: CENT, CENTA), partners with rising country music star Alexandra Kay to launch the “Favorites” collection ahead of the summer patio season. The collaboration began with a “gARDEN Party” in Nashville, Tennessee on May 20. Kay's selected patterns include Coastal Green Leaf, Navy Palm, and Sage Green Tenley, which reflect her love for the outdoors. The eco-friendly cushions use ARDEN's new earthFIBER material, a blend of bamboo viscose and polyester, treated to resist stains and water without PFAS. Alexandra Kay, known for her robust social media presence and successful debut album, continues to gain momentum as she joins Jelly Roll’s “Beautifully Broken Tour” in the fall.
Central Garden & Pet (NASDAQ: CENTA), a leader in the Pet and Garden industries, announced that CFO Niko Lahanas will participate in a virtual fireside chat at the Oppenheimer 24th Annual Consumer Growth and E-Commerce Conference. This event will take place on June 11, 2024, at 1:30 pm ET (10:30 am PT). The live webcast and replay can be accessed via Central's Investor Relations website.
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