Central Garden & Pet (CENT) Reports Q1: Everything You Need To Know Ahead Of Earnings

Adam Hejl /
2024/05/07 3:02 am EDT

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

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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