Central Garden & Pet (CENT) Tops Q1 EPS by 18c; maintains guidance

Central Garden & Pet (NASDAQ: CENT) reported Q1 EPS of $0.01, $0.18 better than the analyst estimate of ($0.17). Revenue for the quarter came in at $635 million versus the consensus estimate of $621.72 million.

GUIDANCE:

Central Garden & Pet sees FY2024 EPS of $2.50 or better before the impact of the stock dividend taking place on February 8, 2024, versus the consensus of $2.55.

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 $70 million.

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

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