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) announced an expected fiscal 2023 EPS of $2.35 or better, with a projected second quarter EPS of approximately $0.90. The company's performance in the second quarter was adversely affected by poor spring weather, causing a late start to the garden season and lower retail inventory.
Despite these challenges, the Pet segment met expectations and gained market share. The company is implementing a cost and simplicity program to enhance margins and reduce complexity, with further details expected in their earnings call on May 3, 2023. The outlook reflects macroeconomic uncertainties, cost inflation, and evolving consumer behavior, while also noting that fiscal 2023 will include 53 weeks compared to 52 in 2022.
Ferry-Morse, a prominent gardening seed brand under Central Garden & Pet Company (NASDAQ: CENT, CENTA), is hosting its annual Garden Get-Together on April 14, 2023, at 2:00 PM EDT via Facebook Live, celebrating National Gardening Day. The event aims to engage gardeners and home chefs through interactive demonstrations and discussions about growing fresh ingredients at home, particularly amid rising grocery costs. Participants will receive gardening tips and enjoy recipe demonstrations with Ferry-Morse's experts and notable gardening creators. The brand will also promote its Plantlings line, featuring live plants delivered directly from their nursery, and offer discounts on various gardening products during the event.
Ferry-Morse, a historic gardening seed brand under Central Garden & Pet Company (NASDAQ: CENT, CENTA), has launched a new digital Q&A platform named 'Ask Our Gardening Community'. This free service connects gardeners with brand ambassadors who provide real-time advice and support. Designed to modernize the seed category, this initiative offers resources for novice and experienced gardeners, overcoming traditional seasonal limitations. Alongside this, Ferry-Morse has previously introduced tools like the Garden Matchmaker quiz and a customer Rewards Program that incentivizes purchases while promoting community engagement.
Central Garden & Pet's Four Paws® Wee-Wee® Eco Pads have been recognized among the “7 Best Eco-Friendly Puppy Training Pads of 2023” by Treehugger, a notable sustainability site. This recognition underscores the brand's commitment to environmentally friendly products. The Eco Pads feature a leak-proof liner made of 50% recycled materials and offer 24-hour protection without harmful chemicals. The production process emphasizes sustainability through the use of partial solar energy and recycled water. Available at retailers like Amazon and Petco, these pads align with Four Paws' mission to provide innovative, eco-conscious pet solutions.
Ferry-Morse, part of Central Garden & Pet (NASDAQ: CENT, CENTA), announced the launch of over 100 varieties of plants as well as more than 40 new Plantlings Garden Starter Kits in preparation for the spring planting season. These kits, retailing at $39.99, include 12 baby plants each and aim to simplify garden planning for enthusiasts. The new offerings feature curated assortments like the Mixology Herb & Fruit Kit and BBQ Herbs Kit, designed to inspire creativity in gardening. Orders for the kits begin on March 13, with shipping set to start in March through June 18. All plants are non-GMO and free from harmful chemicals.
Central Garden & Pet Company (NASDAQ: CENT, CENTA) announces the launch of four new innovative product lines from Nylabone, enhancing their chew toy and treat offerings. These include Power Chew Toy Shapes, Basted Blast Chew Toys, the Sneaky Snacker™ Chew & Treat Toy, and Healthy Edibles® Meaty Center Chew Treats. With over 65 years of experience, Nylabone continues to prioritize safe, satisfying chewing for dogs. The products will be available in Spring and are designed to engage dogs while promoting dental health.
Central Garden & Pet Company (NASDAQ: CENTA) reported fiscal 2023 Q1 net sales of $628 million, a decline of 5% from $661 million year-over-year. The company incurred a net loss of $8 million or $0.16 per share, compared to a net income of $9 million last year. The Garden segment faced significant challenges, with a 6% drop in sales. Operating income was just $0.4 million, down from $26 million a year prior. Despite these issues, Central maintains its fiscal 2023 EPS guidance of $2.60 to $2.80, supported by anticipated pricing actions and productivity initiatives.
Cadet, a prominent brand under Central Garden & Pet (NASDAQ: CENT), has launched a unique line of all-natural long-lasting chews named Bully Hide. Utilizing 35 years of expertise, these chews combine beef hide and bully sticks using a patent-pending technology, providing a digestible and affordable option for pet owners. The product line includes Bully Hide Rolls, Bully Hide Chews, and Bully Hide Sticks, made from grass-fed cattle. Cadet aims to meet the increasing demand for quality pet treats and is available at major retail outlets like Costco, Walmart, and Amazon.
Central Garden & Pet Company (NASDAQ: CENT, CENTA) will announce its first-quarter fiscal 2023 financial results on January 31, 2023, after trading ends. This will be followed by a conference call at 4:30 p.m. ET, featuring CEO Tim Cofer and CFO Niko Lahanas discussing results and providing a business update. The company achieved $3.3 billion in net sales for 2022, showcasing its leadership in the Pet and Garden industries with a portfolio of over 65 brands. Interested parties can access the conference call via phone or online.
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