Central Garden & Pet Co Stock Price, News & Analysis

Central Garden & Pet (NASDAQ: CENTA) has released its Impact Report for fiscal years 2022/2023, highlighting progress in sustainability initiatives. Key achievements include incorporating 33 million pounds of recycled materials in Kaytee bedding, saving 100 million gallons of water through drip irrigation, and reducing 19 metric tons of greenhouse gases through Wee Wee® pad compression. The company reported a 22% reduction in safety incidents in 2022 and 20% in 2023, while contributing $1.5 million in donations to various charitable organizations.

Central Garden & Pet Company (NASDAQ: CENT, CENTA) has announced key leadership changes effective September 29, 2024. Niko Lahanas, former CFO, has been appointed as the new Chief Executive Officer and will join the Board of Directors. Brad Smith, previously CFO of the Pet segment, will succeed Lahanas as the new Chief Financial Officer.

Lahanas, with nearly 18 years of experience at Central, replaces Beth Springer, who served as Interim CEO since October 2023. Springer will return to her role as Lead Independent Director. The company's founder and Chairman, Bill Brown, expressed confidence in Lahanas' ability to lead Central into its next growth phase, citing his instrumental role in setting strategic direction and driving performance as CFO since May 2017.

Nylabone, a brand in the Central Garden & Pet portfolio (NASDAQ: CENT), has been named a 2024-2025 Top Performer by the Pet Sustainability Coalition (PSC). This award recognizes companies in the pet industry committed to social and environmental responsibility. Nylabone, which joined PSC as an Advocate member in 2022, is among 20 leading accredited brands demonstrating commitment to sustainability across all 17 United Nations Sustainable Development Goals for 2030.

Nylabone's sustainability efforts have already yielded significant results:

• Saved about 600 cubic feet of landfill space with recyclable packaging
• Prevented 1.1 million pounds of greenhouse gas annually with electro-hydraulic machines
• Generated nearly 400,000 kilowatt hours of clean energy from rooftop solar systems

These efforts support Central Garden & Pet's Impact strategy, focused on protecting the planet, cultivating communities, and empowering employees.

Central Garden & Pet (NASDAQ: CENT, CENTA), a market leader in Pet and Garden industries, has announced its participation in the Barclays 17th Annual Global Consumer Staples Conference. The event is scheduled for Tuesday, September 3, 2024. Niko Lahanas, the company's CFO, will be hosting one-on-one meetings during the conference.

This participation provides an opportunity for Central Garden & Pet to engage with investors and industry professionals, potentially discussing the company's performance, strategies, and outlook. The Barclays conference is a significant event in the consumer staples sector, offering valuable networking and information-sharing opportunities for participating companies.

Central Garden & Pet (NASDAQ: CENTA) reported Q3 fiscal 2024 results with net sales of $996 million, down 3% from $1,023 million last year. GAAP EPS was $1.19, compared to $1.25 a year ago, while non-GAAP EPS was $1.32 vs. $1.40 last year. The company maintains its outlook for fiscal 2024 non-GAAP EPS of $2.00 or better.

Key highlights include:

• Gross margin expanded by 70 basis points to 31.8%
• Operating income decreased 6% to $116 million
• Pet segment sales increased 1% to $508 million
• Garden segment sales decreased 6% to $488 million
• Cash balance at quarter-end was $570 million

The company continues to advance its Cost and Simplicity program to improve efficiency and simplify operations.

Barkworthies, a natural dog chew brand under Central Garden & Pet (NASDAQ: CENT, CENTA), has introduced single-count bulk options for its hickory smoked chews. Launched in May 2023, these treats are crafted in small batches at their Richmond, Virginia facility using a patent-pending smoking process. The new format offers pet parents flexibility to choose varieties fitting their dog's needs and budget.

The line features 10 products suitable for dogs of all sizes, including Duck Feet, Bully Sticks, and Yak Cheese, with prices starting under $2. These chews are made with single or ingredients, free from artificial flavors and additives. New merchandising displays allow customers to experience the hickory smoked aroma while shopping.

Central Garden & Pet Company (NASDAQ: CENT, CENTA), a market leader in the Pet and Garden industries, has announced it will release its fiscal 2024 third quarter financial results on Wednesday, August 7, 2024, after market close. The company will host a conference call at 4:30 p.m. Eastern Time on the same day to discuss the results and provide a business update.

The call will be led by Beth Springer, Interim CEO, and Niko Lahanas, CFO. Investors and analysts can access the live webcast and related materials at http://ir.central.com. For those preferring to participate by phone, the dial-in number is +1 (201) 689-8345 for both domestic and international callers.

Nylabone, part of the Central Garden & Pet portfolio (NASDAQ: CENT), sponsored the reunification of retired U.S. Air Force explosive detection dog Maci with her former handler, Senior Airman Hadiya. The event took place in late May in Oklahoma, facilitated by American Humane. The sponsorship covered transportation and veterinary services for Maci. This initiative is part of Nylabone's ongoing partnership with American Humane, which started in 2018. Nylabone also supports shelter dogs and service animals through monetary donations and chew toy contributions. The Nylabone Cares program contributes to numerous local and national charities, promoting community health, employee well-being, and sustainability.

Aqueon, a brand under Central Garden & Pet (NASDAQ: CENT, CENTA), has launched its first app, BlueIQ, to support freshwater and saltwater fish keepers. The app provides guides, tips, and tricks for aquarium maintenance, aiming to simplify the care process for both beginners and experienced hobbyists. Key features include compatibility with Aqueon and Coralife Smart LED lights, offering full spectrum lighting, color customization, and 24/7 programmable scheduling. The app also sends maintenance alerts and feeding reminders, ensuring optimal fish care. The BlueIQ app is available for free on Apple and Google Play stores.