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Central Garden & Pet (CENT) Reports Earnings Tomorrow: What To Expect


Radek Strnad /
2024/08/06 3:16 am EDT

Pet company Central Garden & Pet (NASDAQGS:CENT) will be reporting earnings tomorrow afternoon. Here's what to expect.

Central Garden & Pet beat analysts' revenue expectations by 1.4% last quarter, reporting revenues of $900.1 million, flat year on year. It was a strong quarter for the company, with an impressive beat of analysts' organic revenue growth estimates and a solid beat of analysts' earnings estimates.

Is Central Garden & Pet a buy or sell going into earnings? Read our full analysis here, it's free.

This quarter, analysts are expecting Central Garden & Pet's revenue to decline 2.3% year on year to $999.8 million, a deceleration from its flat revenue in the same quarter last year. Adjusted earnings are expected to come in at $1.15 per share.

Central Garden & Pet Total Revenue

Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Central Garden & Pet has missed Wall Street's revenue estimates twice over the last two years.

Looking at Central Garden & Pet's peers in the household products segment, some have already reported their Q2 results, giving us a hint as to what we can expect. Clorox's revenues decreased 5.7% year on year, missing analysts' expectations by 2.4%, and Colgate-Palmolive reported revenues up 4.9%, topping estimates by 1.1%. Clorox traded up 7.5% following the results while Colgate-Palmolive was also up 4.5%.

Read our full analysis of Clorox's results here and Colgate-Palmolive's results here.

Investors in the household products segment have had steady hands going into earnings, with share prices up 1.8% on average over the last month. Central Garden & Pet is down 1.4% during the same time and is heading into earnings with an average analyst price target of $42 (compared to the current share price of $36.97).

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