Central Garden Down 11.30% To $38.92 After Earnings Beat

Tuesday, November 21, 2023 - Central Garden (CENT) reported upside earnings and revenues today.

Central Garden's earnings came in at an EPS of $0.1 per share, 43.00% higher than estimates for an EPS of $0.07 per share. The firm's earnings are up 350% since reporting losses of $0.04 per share in the same period a year ago. Remember, earnings reported were on an adjusted basis, so they may not be comparable to prior reports and/or analyst estimates.

Analyst projections for Central Garden revenue came in at a consensus of $735.3 million. Fourth-Quarter revenues surpassed estimates for $750.1 million by $14.8 million (2%). The company achieved 6% growth year-over-year compared to the firm's revenue of $707.4 million from the year-ago quarter. The higher earnings growth relative to revenue signals Central Garden has improved its profit margin.

The stock is down 11.30% to $38.92 after the report.

The firm's lower revenue growth to earnings signals that the firm has been able to reduce costs and improve its profit margin overall.

The average recommendation from Wall Street analysts was a Buy which may get revised based on this new data.

InvestorsObserver gives the stock a Bearish Sentiment score at the moment based on recent trading.

Prior to the report, InvestorsObserver gave the stock an overall score of 38. Meanwhile, the average Wall Street analyst rated the stock a Buy.

Central Garden & Pet Co understands that home is central to life and has nurtured happy and healthy homes for over forty years. Central is on a mission to lead the future of the pet and garden industries. The company's innovative and trusted products are dedicated to help lawns grow greener, gardens bloom bigger, pets live healthier and communities grow stronger. Central is home to a portfolio of more than sixty-five brands including Pennington, Nylabone, Kaytee, Amdro, and Aqueon, strong manufacturing and distribution capabilities, and passionate, entrepreneurial growth culture. Central Garden & Pet is based in Walnut Creek, California, and has offices across North America and Europe.