Pet company Central Garden & Pet (NASDAQGS:CENT) will be reporting results tomorrow after market close. Here's what you need to know.
Central Garden & Pet beat analysts' revenue expectations by 2.8% last quarter, reporting revenues of $634.5 million, up 1.1% year on year. It was a very strong quarter for the company, with an impressive 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 2.4% year on year to $887.5 million, improving from the 4.8% decrease it recorded in the same quarter last year. Adjusted earnings are expected to come in at $0.76 per share.
![Central Garden & Pet Total Revenue](https://news-assets.stockstory.org/chart-images/Central-Garden-Pet-Total-Revenue_2024-05-07-070249_nshb.png)
The majority of analysts covering the company have 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 Q1 results, giving us a hint as to what we can expect. Clorox's revenues decreased 5.3% year on year, missing analysts' expectations by 3%, and Kimberly-Clark reported flat revenue, topping estimates by 1.2%. Clorox traded down 5.6% following the results while Kimberly-Clark was up 6.9%.
Read our full analysis of Clorox's results here and Kimberly-Clark's results here.
Investors in the household products segment have had steady hands going into earnings, with share prices flat over the last month. Central Garden & Pet's stock price was unchanged during the same time and is heading into earnings with an average analyst price target of $46.7 (compared to the current share price of $41.64).
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