Central Garden & Pet reports fiscal Q1 net profit of US$430,000 on revenue of US$634.5M, with both results topping Wall Street expectations

Sample article from our Consumer packaged goods (CPG)

WALNUT CREEK, California , February 7, 2024 (press release) –

Central Garden & Pet Co. (CENT) on Wednesday reported fiscal first-quarter net income of $430,000, after reporting a loss in the same period a year earlier.

On a per-share basis, the Walnut Creek, California-based company said it had profit of 1 cent.

The results topped Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for a loss of 18 cents per share.

The maker of products for the pet supply and lawn and garden markets posted revenue of $634.5 million in the period, also exceeding Street forecasts. Four analysts surveyed by Zacks expected $620.1 million.

Central Garden expects full-year earnings to be $2.50 per share.

Central Garden shares have dropped almost 7% since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $46.78, an increase of slightly more than 8% in the last 12 months.

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