Central Garden & Pet Company (CENTA) Tops Q3 EPS by 51c, Revenues Beat; Offers FY20 EPS Guidance Above Consensus

Central Garden & Pet Company (NASDAQ: CENTA) reported Q3 EPS of $1.32, $0.51 better than the analyst estimate of $0.81. Revenue for the quarter came in at $833.5 million versus the consensus estimate of $729.45 million.

• Q3 2020 sales increased 18.0% to $833.5 million
• Q3 2020 diluted EPS of $1.27; an increase of $0.47 vs. prior year
• Full year 2020 diluted EPS now projected to be $1.90 or better
• Investor Day to be held in conjunction with fiscal 2020 earnings release

"Thanks to the hard work and dedication of our employees and our relentless focus on meeting the needs of our customers and consumers, we are proud to report that Central Garden & Pet delivered the strongest quarter in the Company’s history. I am very pleased with how we continue to navigate the challenging external landscape, while prioritizing the health and safety of our people and executing against our evolving strategy and goals" said Tim Cofer, CEO of Central Garden & Pet.

Cofer continued, “We will be holding a virtual Investor Day in conjunction with the announcement of our year end and fourth quarter results. Attendees can expect to hear more about our Vision2025 strategy, engage with our top leaders and learn about how Central Garden & Pet is poised for growth in the future.”

GUIDANCE:

Central Garden & Pet Company sees FY2020 EPS of $1.90, versus the consensus of $1.63.

Given performance year-to-date and planned incremental investment levels in the fourth quarter, the Company currently projects full year 2020 EPS to be at or above $1.90, representing strong growth over prior year EPS of $1.61. As a reminder, the Company's fiscal fourth quarter is generally a smaller earnings quarter and this, coupled with heightened investment spending, lead the Company to anticipate a slight loss in the final quarter of fiscal 2020.

The Company will unveil its new, long-term strategy, named Vision2025, at a virtual Investor Day that will be coordinated with fiscal 2020 earnings release in late November 2020. This virtual event will include an overview of the new strategy, commentary from key leaders and a live Q&A session. The exact date and registration details will be communicated at a later date.

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

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