Central Garden & Pet Announces Q1 Fiscal 2024 Financial Results
- Fiscal 2024 Q1 net sales increased by 1% compared to the prior year.
- Gross margin improved 80 basis points to 28.2% due to cost management and moderating inflation.
- Operating income increased to $8 million from $0.4 million a year ago.
- Central's cash balance at the end of the quarter was $341 million compared to $88 million a year ago, driven by a reduction in inventory.
- Net sales for the Pet segment decreased by 2% due to lower sales of durable pet products.
- Garden segment operating loss was $9 million compared to operating loss of $11 million in the prior year.
Insights
The reported net sales increase of 1% for Central Garden & Pet Company is relatively modest, reflecting a challenging market environment. However, the improvement in gross margin by 80 basis points to 28.2% is a noteworthy development, indicating effective cost management and potentially easing inflationary pressures. The operating income increase from $0.4 million to $8 million, alongside a reduction in SG&A expenses as a percentage of net sales, suggests a disciplined approach to operational efficiency that investors often view favorably.
From a financial standpoint, the reduction in net interest expense, due to higher cash balances and interest rates, is a positive signal for Central's debt management strategies. The leverage ratio of 3.0x, a slight decrease from 3.1x, indicates a stable debt position, which is crucial for maintaining financial flexibility. The company's ability to convert inventory to cash, as evidenced by the increased cash balance from $88 million to $341 million, reflects strong working capital management.
Central's guidance for fiscal 2024, with a non-GAAP EPS expectation of $2.50 or better, suggests confidence in their ability to navigate the current economic uncertainties. This outlook, coupled with the announced stock dividend, may influence investor sentiment and the stock's liquidity.
Central Garden & Pet Company's performance in its Pet and Garden segments reflects broader industry trends, where pet-related products continue to have a strong market presence. The 2% decrease in net sales for the Pet segment, attributed to lower sales of durable pet products, could signal a shift in consumer preferences or increased competition. However, the 10% increase in operating income for the same segment indicates that Central's Cost and Simplicity program may be effectively offsetting sales declines.
The Garden segment's 6% increase in net sales and improved operating margin highlight the seasonal nature of this industry and Central's ability to capitalize on early season demand. The organic net sales increase of 11% is particularly striking, suggesting strong underlying business performance excluding certain divestitures.
Overall, Central's steady financial results in a challenging environment could reflect resilience and adaptability. The company's strategic focus on cost management and operational efficiency appears to be paying off, which may reassure stakeholders about its long-term growth prospects.
Central Garden & Pet's financial results must be contextualized within the larger macroeconomic environment, characterized by geopolitical uncertainty and deflationary pressures in some commodity businesses. The company's modest pricing actions to mitigate inflationary headwinds demonstrate a proactive approach to pricing strategy, which is essential in maintaining profitability when facing cost fluctuations.
The effective tax rate of 287.7%, influenced by a discrete item related to stock compensation, is an anomaly that investors should consider as non-recurring when evaluating the company's financial health. The capital spending projection of approximately $70 million indicates ongoing investment in the business, which could be critical for long-term growth but may also impact short-term cash flows.
Central's unchanged fiscal outlook, despite the uncertain demand and retailer dynamics, suggests management's confidence in their strategic initiatives. This confidence, if well-founded, could translate into steady performance despite the volatile economic landscape.
Fiscal 2024 Q1 net sales of
Fiscal 2024 Q1 earnings per share of
Maintains outlook for fiscal 2024 non-GAAP EPS of
“The fiscal year is off to a solid start as we successfully navigated the challenging external environment. We delivered earnings per share of
Fiscal 2024 First Quarter Financial Results
Net sales were
Gross profit was
Operating income was
Net interest expense was
Net income was
The effective tax rate was
Pet Segment Fiscal 2024 First Quarter Results
Net sales for the Pet segment were
Pet segment operating income was
Garden Segment Fiscal 2024 First Quarter Results
Net sales for the Garden segment were
Garden segment operating loss was
Additional Information
The cash balance at the end of the quarter was
Total debt as of December 30, 2023, and December 24, 2022 was
Fiscal 2024 Guidance
Central continues to expect fiscal 2024 non-GAAP EPS to be
This outlook reflects an environment of macroeconomic and geopolitical uncertainty with deflationary pressure in some of Central's commodity businesses and uncertain consumer demand and retailer dynamics. It includes modest pricing actions to help mitigate inflationary headwinds. This outlook excludes the impact of any acquisitions, divestitures or restructuring activities that may occur during fiscal 2024, including any projects under the Cost and Simplicity program. It also excludes the impact from the recent TDBBS acquisition. Central expects fiscal 2024 capital spending to be approximately
Stock Dividend
On December 11, 2023, Central's board of directors declared a stock dividend in the form of one share of Central’s Class A Common Stock for every four outstanding shares of Central’s Common Stock, Class A Common Stock and Class B Stock to enhance liquidity in its Class A Common Stock. Dividend shares of Class A Common Stock will be distributed on February 8, 2024 to stockholders of record on January 8, 2024. The Class A Common Stock is listed on the NASDAQ Global Select Market under the symbol “CENTA.”
Conference Call
Central's senior management will hold a conference call today at 4:30 p.m. Eastern Time (1:30 p.m. Pacific Time) to discuss its fiscal 2024 first quarter results and provide a general business update. The conference call and related materials can be accessed at http://ir.central.com.
Alternatively, to listen to the call by telephone, dial (201) 689-8345 (domestic and international) using confirmation #13742862.
About Central Garden & Pet
Central Garden & Pet Company (NASDAQ: CENT) (NASDAQ: CENTA) understands that home is central to life and has proudly nurtured happy and healthy homes for over 40 years. With fiscal 2023 net sales of
Safe Harbor Statement
“Safe Harbor” Statement under the Private Securities Litigation Reform Act of 1995: The statements contained in this release which are not historical facts, including statements concerning cost inflation and deflation, evolving consumer demand and unfavorable retailer dynamics, anticipated pricing actions, productivity initiatives and estimated capital spending, and earnings guidance for fiscal 2024, are forward-looking statements that are subject to risks and uncertainties that could cause actual results to differ materially from those set forth in or implied by forward-looking statements. All forward-looking statements are based upon Central's current expectations and various assumptions. There are a number of risks and uncertainties that could cause our actual results to differ materially from the forward-looking statements contained in this release including, but not limited to, the following factors:
- high inflation and interest rates, and other adverse macro-economic conditions;
- fluctuations in market prices for seeds and grains and other raw materials;
- our inability to pass through cost increases in a timely manner;
- our ability to recruit and retain new members of our management team, including a Chief Executive Officer, to support our businesses and to hire and retain employees;
- fluctuations in energy prices, fuel and related petrochemical costs;
- declines in consumer spending and increased inventory risk during economic downturns;
- reductions in demand for product categories that benefited from the COVID-19 pandemic;
- adverse weather conditions;
- the success of our Central to Home strategy and our Cost and Simplicity program;
- risks associated with our acquisition strategy, including our ability to successfully integrate acquisitions and the impact of purchase accounting on our financial results;
- material weaknesses relating to the internal controls of recently acquired companies;
- seasonality and fluctuations in our operating results and cash flow;
- supply shortages in pet birds, small animals and fish;
- dependence on a small number of customers for a significant portion of our business;
- consolidation trends in the retail industry;
- risks associated with new product introductions, including the risk that our new products will not produce sufficient sales to recoup our investment;
- competition in our industries;
- continuing implementation of an enterprise resource planning information technology system;
- potential environmental liabilities;
- risks associated with international sourcing;
- impacts of tariffs or a trade war;
- access to and cost of additional capital;
- potential goodwill or intangible asset impairment;
- our ability to remediate material weaknesses in our internal control over financial reporting;
- our dependence upon our key executives;
- our ability to protect our trademarks and other proprietary rights;
- litigation and product liability claims;
- regulatory issues;
- the impact of product recalls;
- potential costs and risks associated with actual or potential cyberattacks;
- potential dilution from issuance of authorized shares;
- the voting power associated with our Class B stock; and
- the impact of new accounting regulations and the possibility our effective tax rate will increase as a result of future changes in the corporate tax rate or other tax law changes.
These risks and others are described in Central’s Securities and Exchange Commission filings. Central undertakes no obligation to publicly update these forward-looking statements to reflect new information, subsequent events or otherwise. Central has not filed its Form 10-Q for the fiscal quarter ended December 30, 2023, so all financial results are preliminary and subject to change.
CENTRAL GARDEN & PET COMPANY CONDENSED CONSOLIDATED BALANCE SHEETS (in thousands, except share and per share amounts, unaudited) |
|||||||||||
ASSETS |
December 30, 2023 |
|
December 24, 2022 |
|
September 30, 2023 |
||||||
Current assets: |
|
|
|
|
|
||||||
Cash and cash equivalents |
$ |
341,419 |
|
|
$ |
87,800 |
|
|
$ |
488,730 |
|
Restricted cash |
|
14,200 |
|
|
|
14,745 |
|
|
|
14,143 |
|
Accounts receivable (less allowances of |
|
370,996 |
|
|
|
329,129 |
|
|
|
332,890 |
|
Inventories, net |
|
948,398 |
|
|
|
1,024,359 |
|
|
|
838,188 |
|
Prepaid expenses and other |
|
39,047 |
|
|
|
56,590 |
|
|
|
33,172 |
|
Total current assets |
|
1,714,060 |
|
|
|
1,512,623 |
|
|
|
1,707,123 |
|
Plant, property and equipment, net |
|
389,440 |
|
|
|
396,675 |
|
|
|
391,768 |
|
Goodwill |
|
546,436 |
|
|
|
546,436 |
|
|
|
546,436 |
|
Other intangible assets, net |
|
489,058 |
|
|
|
534,207 |
|
|
|
497,228 |
|
Operating lease right-of-use assets |
|
177,499 |
|
|
|
184,351 |
|
|
|
173,540 |
|
Other assets |
|
105,841 |
|
|
|
54,777 |
|
|
|
62,553 |
|
Total |
$ |
3,422,334 |
|
|
$ |
3,229,069 |
|
|
$ |
3,378,648 |
|
|
|
|
|
|
|
||||||
LIABILITIES AND EQUITY |
|
|
|
|
|
||||||
Current liabilities: |
|
|
|
|
|
||||||
Accounts payable |
$ |
212,193 |
|
|
$ |
194,159 |
|
|
$ |
190,902 |
|
Accrued expenses |
|
230,477 |
|
|
|
179,231 |
|
|
|
216,241 |
|
Current lease liabilities |
|
51,035 |
|
|
|
49,353 |
|
|
|
50,597 |
|
Current portion of long-term debt |
|
466 |
|
|
|
296 |
|
|
|
247 |
|
Total current liabilities |
|
494,171 |
|
|
|
423,039 |
|
|
|
457,987 |
|
Long-term debt |
|
1,189,093 |
|
|
|
1,186,649 |
|
|
|
1,187,956 |
|
Long-term lease liabilities |
|
136,708 |
|
|
|
145,261 |
|
|
|
135,621 |
|
Deferred income taxes and other long-term obligations |
|
149,776 |
|
|
|
150,676 |
|
|
|
144,271 |
|
|
|
|
|
|
|
||||||
Equity: |
|
|
|
|
|
||||||
Common stock, |
|
111 |
|
|
|
113 |
|
|
|
111 |
|
Class A common stock, |
|
411 |
|
|
|
412 |
|
|
|
410 |
|
Class B stock, |
|
16 |
|
|
|
16 |
|
|
|
16 |
|
Additional paid-in capital |
|
594,646 |
|
|
|
585,127 |
|
|
|
594,416 |
|
Retained earnings |
|
858,817 |
|
|
|
740,549 |
|
|
|
859,370 |
|
Accumulated other comprehensive loss |
|
(2,112 |
) |
|
|
(3,363 |
) |
|
|
(2,970 |
) |
Total Central Garden & Pet Company shareholders’ equity |
|
1,451,889 |
|
|
|
1,322,854 |
|
|
|
1,451,353 |
|
Noncontrolling interest |
|
697 |
|
|
|
590 |
|
|
|
1,460 |
|
Total equity |
|
1,452,586 |
|
|
|
1,323,444 |
|
|
|
1,452,813 |
|
Total |
$ |
3,422,334 |
|
|
$ |
3,229,069 |
|
|
$ |
3,378,648 |
|
CENTRAL GARDEN & PET COMPANY CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (in thousands, except per share amounts, unaudited) |
|||||||
|
Three Months Ended |
||||||
|
December 30, 2023 |
|
December 24, 2022 |
||||
Net sales |
$ |
634,533 |
|
|
$ |
627,663 |
|
Cost of goods sold |
|
455,688 |
|
|
|
455,964 |
|
Gross profit |
|
178,845 |
|
|
|
171,699 |
|
Selling, general and administrative expenses |
|
170,433 |
|
|
|
171,293 |
|
Operating income |
|
8,412 |
|
|
|
406 |
|
Interest expense |
|
(14,316 |
) |
|
|
(14,469 |
) |
Interest income |
|
4,609 |
|
|
|
693 |
|
Other income |
|
993 |
|
|
|
1,699 |
|
Loss before income taxes and noncontrolling interest |
|
(302 |
) |
|
|
(11,671 |
) |
Income tax benefit |
|
(869 |
) |
|
|
(2,822 |
) |
Income (loss) including noncontrolling interest |
|
567 |
|
|
|
(8,849 |
) |
Net income (loss) attributable to noncontrolling interest |
|
137 |
|
|
|
(416 |
) |
Net income (loss) attributable to Central Garden & Pet Company |
$ |
430 |
|
|
$ |
(8,433 |
) |
Net income (loss) per share attributable to Central Garden & Pet Company: |
|
|
|
||||
Basic |
$ |
0.01 |
|
|
$ |
(0.16 |
) |
Diluted |
$ |
0.01 |
|
|
$ |
(0.16 |
) |
Weighted average shares used in the computation of net income (loss) per share: |
|
|
|
||||
Basic |
|
52,332 |
|
|
|
52,478 |
|
Diluted |
|
53,428 |
|
|
|
52,478 |
|
CENTRAL GARDEN & PET COMPANY CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (in thousands, unaudited) |
|||||||
|
Three Months Ended |
||||||
|
December 30, 2023 |
|
December 24, 2022 |
||||
Cash flows from operating activities: |
|
|
|
||||
Net income (loss) |
$ |
567 |
|
|
$ |
(8,849 |
) |
Adjustments to reconcile net income (loss) to net cash used by operating activities: |
|
|
|
||||
Depreciation and amortization |
|
22,545 |
|
|
|
21,692 |
|
Amortization of deferred financing costs |
|
666 |
|
|
|
675 |
|
Non-cash lease expense |
|
12,772 |
|
|
|
12,738 |
|
Stock-based compensation |
|
6,021 |
|
|
|
6,577 |
|
Deferred income taxes |
|
1,498 |
|
|
|
3,260 |
|
Other operating activities |
|
(727 |
) |
|
|
(35 |
) |
Change in assets and liabilities (excluding businesses acquired): |
|
|
|
||||
Accounts receivable |
|
(32,952 |
) |
|
|
48,062 |
|
Inventories |
|
(92,808 |
) |
|
|
(84,689 |
) |
Prepaid expenses and other assets |
|
(5,275 |
) |
|
|
(11,620 |
) |
Accounts payable |
|
19,145 |
|
|
|
(16,107 |
) |
Accrued expenses |
|
9,533 |
|
|
|
(23,049 |
) |
Other long-term obligations |
|
3,310 |
|
|
|
(5 |
) |
Operating lease liabilities |
|
(14,079 |
) |
|
|
(11,952 |
) |
Net cash used by operating activities |
|
(69,784 |
) |
|
|
(63,302 |
) |
Cash flows from investing activities: |
|
|
|
||||
Additions to plant, property and equipment |
|
(10,127 |
) |
|
|
(17,698 |
) |
Payments to acquire companies, net of cash acquired |
|
(59,498 |
) |
|
|
— |
|
Investments |
|
(850 |
) |
|
|
(250 |
) |
Net cash used in investing activities |
|
(70,475 |
) |
|
|
(17,948 |
) |
Cash flows from financing activities: |
|
|
|
||||
Repayments of long-term debt |
|
(85 |
) |
|
|
(88 |
) |
Repurchase of common stock, including shares surrendered for tax withholding |
|
(6,775 |
) |
|
|
(9,341 |
) |
Payment of contingent consideration liability |
|
(25 |
) |
|
|
(7 |
) |
Distribution to noncontrolling interest |
|
(900 |
) |
|
|
— |
|
Net cash used by financing activities |
|
(7,785 |
) |
|
|
(9,436 |
) |
Effect of exchange rate changes on cash, cash equivalents and restricted cash |
|
790 |
|
|
|
1,047 |
|
Net decrease in cash, cash equivalents and restricted cash |
|
(147,254 |
) |
|
|
(89,639 |
) |
Cash, cash equivalents and restricted cash at beginning of period |
|
502,873 |
|
|
|
192,184 |
|
Cash, cash equivalents and restricted cash at end of period |
$ |
355,619 |
|
|
$ |
102,545 |
|
Supplemental information: |
|
|
|
||||
Cash paid for interest |
$ |
19,756 |
|
|
$ |
19,907 |
|
Cash received from income taxes |
$ |
17,784 |
|
|
$ |
— |
|
New operating lease right of use assets |
$ |
13,170 |
|
|
$ |
11,022 |
|
Use of Non-GAAP Financial Measures
We report our financial results in accordance with GAAP. However, to supplement the financial results prepared in accordance with GAAP, we use non-GAAP financial measures including adjusted EBITDA and organic sales. Management believes these non-GAAP financial measures that exclude the impact of specific items (described below) may be useful to investors in their assessment of our ongoing operating performance and provide additional meaningful comparisons between current results and results in prior operating periods.
Adjusted EBITDA is defined by us as income before income tax, net other expense, net interest expense and depreciation and amortization and stock-based compensation expense (or operating income plus depreciation and amortization expense and stock-based compensation expense). We present adjusted EBITDA because we believe that adjusted EBITDA is a useful supplemental measure in evaluating the cash flows and performance of our business and provides greater transparency into our results of operations. Adjusted EBITDA is used by our management to perform such evaluations. Adjusted EBITDA should not be considered in isolation or as a substitute for cash flow from operations, income from operations or other income statement measures prepared in accordance with GAAP. We believe that adjusted EBITDA is frequently used by investors, securities analysts and other interested parties in their evaluation of companies, many of which present adjusted EBITDA when reporting their results. Other companies may calculate adjusted EBITDA differently and it may not be comparable.
The reconciliations of these non-GAAP measures to the most directly comparable financial measures calculated and presented in accordance with GAAP are shown in the tables below.
Organic Net Sales Reconciliation |
|
GAAP to Non-GAAP Reconciliation |
|||||||||
|
|
Three Months Ended December 30, 2023 |
|||||||||
|
|
Net sales (GAAP) |
|
Effect of
|
|
Net sales organic |
|||||
|
|
(in millions) |
|||||||||
Q1 FY 24 |
|
$ |
634.5 |
|
|
$ |
13.2 |
|
$ |
621.3 |
|
Q1 FY 23 |
|
|
627.7 |
|
|
|
9.5 |
|
|
618.2 |
|
$ increase |
|
$ |
6.8 |
|
|
|
|
$ |
3.1 |
|
|
% increase |
|
|
1.1 |
% |
|
|
|
|
0.5 |
% |
|
Organic Pet Segment Net Sales Reconciliation |
|
GAAP to Non-GAAP Reconciliation |
|||||||||
|
|
Three Months Ended December 30, 2023 |
|||||||||
|
|
Net sales (GAAP) |
|
Effect of
|
|
Net sales organic |
|||||
|
|
(in millions) |
|||||||||
Q1 FY 24 |
|
$ |
409.2 |
|
|
$ |
13.2 |
|
$ |
396.0 |
|
Q1 FY 23 |
|
|
415.8 |
|
|
|
— |
|
|
415.8 |
|
$ decrease |
|
$ |
(6.6 |
) |
|
|
|
$ |
(19.8 |
) |
|
% decrease |
|
|
(1.6 |
) % |
|
|
|
|
(4.8 |
) % |
|
| Organic Garden Segment Net Sales Reconciliation |
|
GAAP to Non-GAAP Reconciliation |
|||||||||
|
|
Three Months Ended December 30, 2023 |
|||||||||
|
|
Net sales (GAAP) |
|
Effect of
|
|
Net sales organic |
|||||
|
|
(in millions) |
|||||||||
Q1 FY 24 |
|
$ |
225.3 |
|
|
$ |
— |
|
$ |
225.3 |
|
Q1 FY 23 |
|
|
211.9 |
|
|
|
9.5 |
|
|
202.4 |
|
$ increase |
|
$ |
13.4 |
|
|
|
|
$ |
22.9 |
|
|
% increase |
|
|
6.3 |
% |
|
|
|
|
11.3 |
% |
|
Adjusted EBITDA Reconciliation |
|
GAAP to Non-GAAP Reconciliation |
|||||||||||||
|
|
Three Months Ended December 30, 2023 |
|||||||||||||
|
|
Pet |
|
Garden |
|
Corporate |
|
Total |
|||||||
|
|
(in thousands) |
|||||||||||||
Net income attributable to Central Garden & Pet Company |
|
$ |
— |
|
$ |
— |
|
|
$ |
— |
|
|
$ |
430 |
|
Interest expense, net |
|
|
— |
|
|
— |
|
|
|
— |
|
|
|
9,707 |
|
Other income |
|
|
— |
|
|
— |
|
|
|
— |
|
|
|
(993 |
) |
Income tax benefit |
|
|
— |
|
|
— |
|
|
|
— |
|
|
|
(869 |
) |
Net income attributable to noncontrolling interest |
|
|
— |
|
|
— |
|
|
|
— |
|
|
|
137 |
|
Sum of items below operating income |
|
|
— |
|
|
— |
|
|
|
— |
|
|
|
7,982 |
|
Income (loss) from operations |
|
|
43,388 |
|
|
(8,886 |
) |
|
|
(26,090 |
) |
|
|
8,412 |
|
Depreciation & amortization |
|
|
10,798 |
|
|
11,006 |
|
|
|
741 |
|
|
|
22,545 |
|
Noncash stock-based compensation |
|
|
— |
|
|
— |
|
|
|
6,021 |
|
|
|
6,021 |
|
Adjusted EBITDA |
|
$ |
54,186 |
|
$ |
2,120 |
|
|
$ |
(19,328 |
) |
|
$ |
36,978 |
|
Adjusted EBITDA Reconciliation |
|
GAAP to Non-GAAP Reconciliation |
|||||||||||||
|
|
Three Months Ended December 24, 2022 |
|||||||||||||
|
|
Pet |
|
Garden |
|
Corporate |
|
Total |
|||||||
|
|
(in thousands) |
|||||||||||||
Net loss attributable to Central Garden & Pet Company |
|
$ |
— |
|
$ |
— |
|
|
$ |
— |
|
|
$ |
(8,433 |
) |
Interest expense, net |
|
|
— |
|
|
— |
|
|
|
— |
|
|
|
13,776 |
|
Other income |
|
|
— |
|
|
— |
|
|
|
— |
|
|
|
(1,699 |
) |
Income tax benefit |
|
|
— |
|
|
— |
|
|
|
— |
|
|
|
(2,822 |
) |
Net loss attributable to noncontrolling interest |
|
|
— |
|
|
— |
|
|
|
— |
|
|
|
(416 |
) |
Sum of items below operating income |
|
|
— |
|
|
— |
|
|
|
— |
|
|
|
8,839 |
|
Income (loss) from operations |
|
|
39,555 |
|
|
(10,820 |
) |
|
|
(28,329 |
) |
|
|
406 |
|
Depreciation & amortization |
|
|
10,112 |
|
|
10,842 |
|
|
|
738 |
|
|
|
21,692 |
|
Noncash stock-based compensation |
|
|
— |
|
|
— |
|
|
|
6,577 |
|
|
|
6,577 |
|
Adjusted EBITDA |
|
$ |
49,667 |
|
$ |
22 |
|
|
$ |
(21,014 |
) |
|
$ |
28,675 |
|
View source version on businesswire.com: https://www.businesswire.com/news/home/20240207515647/en/
Investor Relations Contact
Friederike Edelmann
VP, Investor Relations & Corporate Sustainability
(925) 412-6726
fedelmann@central.com
Source: Central Garden & Pet Company
FAQ
What were the fiscal 2024 Q1 net sales for Central Garden & Pet Company?
What was the fiscal 2024 Q1 earnings per share for Central Garden & Pet Company?
What is the ticker symbol for Central Garden & Pet Company?
How much did the cash balance at the end of the quarter increase compared to the previous year for Central Garden & Pet Company?
What was the net sales decrease for the Pet segment in fiscal 2024 Q1 for Central Garden & Pet Company?
What was the operating loss for the Garden segment in fiscal 2024 Q1 for Central Garden & Pet Company?
