Welcome to our dedicated page for Central Garden & Pet Co news (Ticker: CENTA), a resource for investors and traders seeking the latest updates and insights on Central Garden & Pet Co stock.
Overview of Central Garden & Pet Co (CENTA)
Central Garden & Pet Co, headquartered in Walnut Creek, California, is a leading player in the garden and pet industries, offering innovative and trusted solutions that nurture happy and healthy homes. With over 40 years of experience, the company operates through two primary segments: the Pet Segment and the Garden Segment. This dual-segment approach allows Central to cater to diverse consumer needs, from pet care to lawn and garden maintenance, while maintaining a balanced and resilient business model.
Pet Segment
The Pet Segment provides a wide range of products aimed at enhancing the health and well-being of pets. Central's portfolio includes over 65 trusted brands such as Nylabone, Kaytee, Aqueon, and Barkworthies, which are recognized for their quality and innovation. These products span categories like pet food, treats, toys, aquatics, and small animal care. By addressing the holistic needs of pets, the company has established itself as a trusted partner for pet owners and retailers alike.
Garden Segment
The Garden Segment focuses on products that help lawns grow greener, gardens bloom bigger, and communities thrive. With brands like Pennington and Amdro, Central offers solutions ranging from grass seed and fertilizers to pest control and decorative outdoor products. The segment's emphasis on sustainability and innovation aligns with growing consumer demand for eco-friendly gardening solutions.
Operational Strengths
Central Garden & Pet Co's operational strengths lie in its robust manufacturing and distribution capabilities, supported by a passionate and entrepreneurial growth culture. The company's extensive network spans North America and Europe, enabling it to efficiently meet the needs of a diverse customer base. Its ability to innovate while maintaining the trustworthiness of its brands has been a cornerstone of its success.
Market Position and Competitive Landscape
Operating in the highly competitive garden and pet industries, Central faces competition from specialized companies and large retailers offering private-label products. However, its differentiation stems from its comprehensive brand portfolio, commitment to quality, and ability to adapt to market trends. By focusing on both pet and garden segments, the company mitigates risks associated with market fluctuations and positions itself as a versatile player in the industry.
Commitment to Sustainability and Innovation
Central Garden & Pet Co is committed to sustainability and innovation, recognizing the importance of these factors in today's market. Whether it's developing eco-friendly gardening products or creating healthier pet care solutions, the company continually strives to meet the evolving needs of its customers while contributing positively to the environment.
Conclusion
Central Garden & Pet Co (CENTA) stands out as a diversified and resilient company with a strong presence in the garden and pet industries. Its dual-segment strategy, extensive brand portfolio, and commitment to innovation and sustainability make it a key player in fostering healthier homes and communities. By leveraging its operational strengths and adapting to market trends, Central is well-positioned to continue its legacy of trust and quality.
Central Garden & Pet reported fiscal 2024 financial results with net sales of $3.2 billion, down from $3.3 billion last year. GAAP EPS decreased to $1.62 from $1.88, while non-GAAP EPS improved to $2.13 from $2.07. The Pet segment sales were $1.83 billion (down 2%) and Garden segment sales were $1.37 billion (down 5%). Despite challenging conditions, the company achieved margin expansion and strong cash flow, with cash and equivalents reaching $754 million. For fiscal 2025, Central expects non-GAAP EPS of $2.20 or better.
Central Garden & Pet (NASDAQ: CENT, CENTA) has scheduled the announcement of its fourth quarter and fiscal year 2024 financial results for Monday, November 25, 2024, after market close. The company will host a conference call at 4:30 p.m. Eastern Time, featuring CEO Niko Lahanas and CFO Brad Smith, to discuss results and provide a business update. Investors can access the webcast and related materials at http://ir.central.com or join by phone at +1 (201) 689-8345.
Central Garden & Pet (NASDAQ: CENTA) has released its Impact Report for fiscal years 2022/2023, highlighting progress in sustainability initiatives. Key achievements include incorporating 33 million pounds of recycled materials in Kaytee bedding, saving 100 million gallons of water through drip irrigation, and reducing 19 metric tons of greenhouse gases through Wee Wee® pad compression. The company reported a 22% reduction in safety incidents in 2022 and 20% in 2023, while contributing $1.5 million in donations to various charitable organizations.
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.
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