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: 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.
Bell Nursery, a subsidiary of Central Garden & Pet (NASDAQ: CENT, CENTA), has been awarded Environmental Partner of the Year by The Home Depot for its commitment to sustainability. For over 25 years, Bell has supplied live goods to the retailer across 18 states. The partnership focuses on reducing environmental impact through initiatives like using 100% wind power at facilities, recycling millions of pounds of materials, and implementing efficient irrigation systems. With fiscal 2021 net sales of $3.3 billion, Central Garden & Pet continues to prioritize eco-friendly practices.
Central Garden & Pet Company (NASDAQ: CENT, CENTA) will announce its Q4 and fiscal year 2022 financial results on November 21, 2022, after trading closes. A conference call is scheduled for 4:30 p.m. ET to discuss these results. With 2021 net sales of $3.3 billion, Central focuses on pet and garden industries and offers over 65 leading brands. The company has a strong presence in North America and Europe, employing over 7,000 individuals.
Nylabone, part of Central Garden & Pet (NASDAQ: CENT, CENTA), is introducing a new collection of play toys aimed at enhancing the emotional, mental, and physical well-being of dogs. The Creative Play Toy line features innovative designs, varying materials, and a modern color palette, with six unique shapes set to launch in October 2022. Additionally, Nylabone will launch Imagination Nation™, an online platform offering play ideas and tips for pet parents. Nylabone aims to foster creativity in dog play and strengthen the bond between pets and their owners.
Nylabone, part of Central Garden & Pet (CENTA), has garnered national accolades for its Gourmet Style chew toys. These products, recognized as the "Chew Toy Product of the Year" at the 2022 Pet Independent Innovation Awards and a finalist in the Pet Product News Editors’ Choice Awards, are made with roasted flavor bits. The chew toys are available in three flavors: chicken, bacon, and peanut butter, catering to both adult dogs and puppies. Nylabone continues to lead in creating durable, flavorful pet products, further establishing its reputation in the pet industry.
Ferry-Morse, a prominent brand under Central Garden & Pet (NASDAQ: CENT, CENTA), has launched its Fall Plantlings Collection featuring 20 new varieties of vegetable, herb, flower, and indoor plants. These are available for delivery across North America until September 28. The collection includes larger Plantlings with established roots for successful growth in cooler weather. The brand has expanded its offerings by 75% since 2021, promoting year-round gardening enthusiasts to embrace seasonal gardening.
Central Garden & Pet Company (NASDAQ: CENT, CENTA) reported Q3 fiscal 2022 net sales of $1,015 million, a 2% decrease year-over-year due to soft garden segment performance. Diluted GAAP EPS rose by $0.02 to $1.39, outpacing the previous year. Despite weather impacts, the garden segment's operating income increased by 13%, driven by acquisitions. However, pet segment operating income fell 12% amidst inflationary pressures. The company maintains its fiscal 2022 EPS guidance to be at or above last year, acknowledging rising costs and shifting consumer demand.
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