Central Garden & Pet Co Stock Price, News & Analysis

Central Garden & Pet Company (NASDAQ: CENT, CENTA) will announce its Q2 fiscal 2023 financial results on May 3, 2023, after trading hours. The announcement follows the period ending March 25, 2023. A conference call will be hosted by CEO Tim Cofer and CFO Niko Lahanas at 4:30 PM ET. Central, based in Walnut Creek, California, reported $3.3 billion in net sales for 2022 and is dedicated to advancing the Pet and Garden industries with over 65 brands. The results will be available online, along with a replay of the conference call.

Pennington, a key brand under Central Garden & Pet Company (NASDAQ: CENT, CENTA), has unveiled a refreshed brand identity aimed at connecting with today's impact-conscious gardeners. This rebranding aligns with the growing trend among millennials seeking diverse and sustainable outdoor spaces, moving beyond traditional landscaping ideals.

Pennington’s new purpose, "Nurture the Roots You Put Down," emphasizes creativity and sustainability. The brand is also expanding its product line to include organic plant foods and high-quality plant seeds, reflecting customer interests.

Developed in collaboration with branding agency JKR, the new logo and vibrant packaging are designed to enhance product visibility, helping consumers easily find Pennington's offerings. The rebranding signifies a commitment to eco-friendly gardening solutions.

Central Garden & Pet Company (NASDAQ: CENT, CENTA) announced an expected fiscal 2023 EPS of $2.35 or better, with a projected second quarter EPS of approximately $0.90. The company's performance in the second quarter was adversely affected by poor spring weather, causing a late start to the garden season and lower retail inventory.

Despite these challenges, the Pet segment met expectations and gained market share. The company is implementing a cost and simplicity program to enhance margins and reduce complexity, with further details expected in their earnings call on May 3, 2023. The outlook reflects macroeconomic uncertainties, cost inflation, and evolving consumer behavior, while also noting that fiscal 2023 will include 53 weeks compared to 52 in 2022.

Ferry-Morse, a prominent gardening seed brand under Central Garden & Pet Company (NASDAQ: CENT, CENTA), is hosting its annual Garden Get-Together on April 14, 2023, at 2:00 PM EDT via Facebook Live, celebrating National Gardening Day. The event aims to engage gardeners and home chefs through interactive demonstrations and discussions about growing fresh ingredients at home, particularly amid rising grocery costs. Participants will receive gardening tips and enjoy recipe demonstrations with Ferry-Morse's experts and notable gardening creators. The brand will also promote its Plantlings line, featuring live plants delivered directly from their nursery, and offer discounts on various gardening products during the event.

Ferry-Morse, a historic gardening seed brand under Central Garden & Pet Company (NASDAQ: CENT, CENTA), has launched a new digital Q&A platform named 'Ask Our Gardening Community'. This free service connects gardeners with brand ambassadors who provide real-time advice and support. Designed to modernize the seed category, this initiative offers resources for novice and experienced gardeners, overcoming traditional seasonal limitations. Alongside this, Ferry-Morse has previously introduced tools like the Garden Matchmaker quiz and a customer Rewards Program that incentivizes purchases while promoting community engagement.