Central Garden & Pet Company (CENTA) Tops Q4 EPS by 1c, Revenues Miss; Offers FY19 EPS Outlook

Central Garden & Pet Company (NASDAQ: CENTA) reported Q4 EPS of $0.10, $0.01 better than the analyst estimate of $0.09. Revenue for the quarter came in at $502.31 million versus the consensus estimate of $510.77 million.

"We are pleased with how Central executed in fiscal 2018, as market share gains and increased distribution continued to drive revenue and earnings growth, even in the face of headwinds which made for some challenges during the year," said George Roeth, President & CEO of Central Garden & Pet. "By focusing on what we could control, we were able to overcome the effects of unfavorable weather, which impacted several of our businesses, an unfavorable mix of sales, and unexpected inflationary pressures on our costs. Our continued efforts around reducing costs 1% to 2% annually and judicious expense control were big factors in keeping margins stable for the year despite the unfavorable environment." Roeth continued, "Looking forward, we would expect organic margins to improve, as we make efforts to offset the effects of inflation and tariffs with price increases, and to continue to reap advantages from our cost savings initiatives. However, it should be noted that overall Company margins and operating income will be negatively impacted in the first two quarters of fiscal 2019, due largely to timing differences related to our recent Bell Nursery acquisition."

GUIDANCE:

Central Garden & Pet Company sees FY2019 EPS of $1.90, versus the consensus of $1.90.

For earnings history and earnings-related data on Central Garden & Pet Company (CENTA) click here.

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