Central Garden & Pet (CENT) Tops Q2 EPS by 6c; Raises Outlook

Central Garden & Pet (NASDAQ: CENT) reported Q2 EPS of $0.65, $0.06 better than the analyst estimate of $0.59. Revenue for the quarter came in at $541.2 million versus the consensus estimate of $528.25 million.

GUIDANCE:

Central Garden & Pet raises FY2016 EPS to at least $1.10, versus the consensus of $1.08.

"We are very pleased to have achieved the highest quarterly revenues in the Company's history and its highest quarterly earnings per share in ten years," said John Ranelli, President & CEO of Central Garden & Pet. “These results reflect our success in increasing revenues, reducing costs, and positioning our portfolio of businesses for success. These efforts are on-going, and the Company remains committed to growing in the years ahead by continuing to execute on the strategy and plan we have been following over the course of the last few years." Ranelli continued, "With our leverage ratio down to 3.1x at the end of the quarter vs. 4.5x a year ago, Central is well-positioned to utilize its strong cash flow and balance sheet to fund future growth both organically and through acquisitions."

Ranelli concluded, "Central's excellent results reflect the dedication and leadership of our management and the significant commitment to excellence of all our employees, ensuring our customers and consumers are receiving the very best in products and services."

For earnings history and earnings-related data on Central Garden & Pet (CENT) click here.

You May Also Be Interested In

• FedEx falls 4% as CY2026 profit forecast misses expectations despite Q4 beat
• CVG to join Russell 2000 and Russell 3000 indexes June 26
• Synopsys upgraded at Piper Sandler on Intel foundry momentum, Apple opportunity