Central Garden & Pet Co. (NASDAQ:CENT) delivered a profit and missed Wall Street’s expectations, BUT beat the revenue expectation. The revenue beat is a positive sign to shareholders seeking high growth out of the company. Shares are up 0.34%.
Central Garden & Pet Co. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share increased 2.22% to $0.46 in the quarter versus EPS of $0.45 in the year-earlier quarter.
Revenue: Rose 20.34% to $498.2 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: Central Garden & Pet Co. reported adjusted EPS income of $0.46 per share. By that measure, the company missed the mean analyst estimate of $0.55. It beat the average revenue estimate of $493.46 million.
Quoting Management: “Although our revenues grew during the quarter, our margins and bottom line results were unsatisfactory. We are taking decisive action to improve our results,” said John Ranelli, President and CEO of Central Garden & Pet. Mr. Ranelli continued, “Since taking over the role of CEO during the middle of the quarter, I have met with many of our customers and employees and it is clear to me that they have a strong belief in Central and our brands. As we move forward, we will be more customer-focused on delivering premier levels of service, innovation and quality, while still reducing costs. This balanced approach should enable us to drive increased revenue and profits for our shareholders in the future.”
Key Stats (on next page)…
Revenue increased 20.34% from $413.98 million in the previous quarter. EPS increased to $0.46 in the quarter versus EPS of $-0.32 in the previous quarter.
Looking Forward: Analysts have a more negative outlook for the company’s next-quarter performance. Over the past three months, the average estimate for next quarter’s earnings has fallen from a profit of $0.6 to a profit $0.58. For the current year, the average estimate has moved down from a profit of $0.79 to a profit of $0.72 over the last ninety days.
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(Company fundamentals provided by Xignite Financials. Email any earnings discrepancies to earnings [at] wallstcheatsheet.com)