Central Garden & Pet (CENT) Tops Q4 EPS by 3c, provides outlook

Central Garden & Pet (NASDAQ: CENT) reported Q4 EPS of $0.10, $0.03 better than the analyst estimate of $0.07. Revenue for the quarter came in at $750.15 million versus the consensus estimate of $740.13 million.

Outlook for Fiscal 2024

Central currently expects fiscal 2024 non-GAAP EPS to be $2.50 or better. This outlook reflects deflationary pressure in some of its commodity businesses, evolving consumer behavior and unfavorable retailer inventory dynamics in an environment of macroeconomic and geopolitical uncertainty. The outlook includes productivity initiatives already under way and modest pricing actions to help mitigate inflationary headwinds. Central expects fiscal 2024 capital spending to be approximately $70 million. This outlook excludes the impact of any acquisitions, divestitures or restructuring activities that may occur during fiscal 2024, including any such project under the Cost and Simplicity program. It also excludes the impact from the recently announced pet consumables acquisition.

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

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