| Over a month ago | ||||
Conference call with CFO… Conference call with CFO Lahanas and VP Edelmann to be held on February 10 hosted by KeyBanc. | ||||
Conference call with CFO… Conference call with CFO Lahanas and VP Edelmann to be held on February 10 hosted by KeyBanc. | ||||
The company states:… The company states: "This outlook reflects the macroeconomic uncertainty, further cost inflation, evolving consumer behavior and unfavorable retailer inventory dynamics. The outlook includes anticipated pricing actions and productivity initiatives across the Company's portfolio to help mitigate inflation. The Company expects fiscal 2023 capital spending to be significantly below fiscal 2022 levels. Fiscal 2023 will have 53 weeks compared to 52 weeks in fiscal 2022. This outlook does not include the impact of any acquisitions or restructuring activities that may occur during fiscal 2023." | ||||
Reports Q1 revenue $628M,… Reports Q1 revenue $628M, consensus $620.3M. "We delivered first quarter results in line with our guidance which anticipated near-term challenges including the residual impact from last year's poor garden season, higher retailer inventories, softer foot traffic at garden retailers, and broadly higher input costs," said Tim Cofer, CEO of Central Garden & Pet. "Looking to the rest of the year, we assume a more normal garden season and that inventory dynamics will stabilize, and expect pricing actions and cost control to largely offset inflation. We remain confident in the competitive strength of Central, our team's ability to perform in this difficult environment and the long-term trends supporting growth in the Pet and Garden industries." | ||||
JPMorgan analyst Andrea… JPMorgan analyst Andrea Teixeira lowered the firm's price target on Central Garden & Pet to $39 from $40 and keeps an Overweight rating on the shares. The analyst expects price inflation to continue to drive sales momentum for the majority of the 14 household and personal care companies she covers in Q4. However, she anticipates "weak" earnings performance for most in the sector. The Q4 reports will not matter much, and guidance and commentary will be crucial to drive stocks in the short term, Teixeira tells investors in a research note. | ||||
| Over a quarter ago | ||||
Reports Q4 revenue $707M,… Reports Q4 revenue $707M, consensus $719.67M. "Central delivered solid fiscal 2022 results in a challenging environment characterized by poor weather during the peak garden season, high inflation, evolving consumer behavior and unfavorable retailer inventory dynamics. Despite these headwinds, we grew net sales, gross margin, operating income, and EPS versus prior year, and we exceeded the guidance we provided in June," said Tim Cofer, CEO of Central Garden & Pet. "While the near-term economic outlook remains volatile and likely unfavorable, we remain confident in the fundamental trends that support growth in the Garden and Pet industries, the competitive strength of Central and our Central to Home strategy." | ||||
JPMorgan analyst Andrea… JPMorgan analyst Andrea Teixeira lowered the firm's price target on Central Garden & Pet to $37 from $45 and keeps a Neutral rating on the shares. The analyst expects a "challenging quarter" for the majority of the 14 household and personal care companies she covers in the upcoming earnings season. The combination of retail and pantry destocking with the "large magnitude of the adverse and sudden" currency movements in key currencies should lead to a tough quarter and potentially risk to consensus estimates or downward revisions in guidance, Teixeira tells investors in a research note. | ||||
CJS Securities analyst… CJS Securities analyst Stefanos Crist initiated coverage of Central Garden & Pet with an Outperform rating and $50 price target. | ||||
Truist analyst Bill… Truist analyst Bill Chappell lowered the firm's price target on Central Garden & Pet to $60 from $65 but keeps a Buy rating on the shares. The analyst updates his model after the company's Q3 results though he remains positive on its positioning in the pet and garden categories, and believe that it now has the "right strategy operationally and on M&A to yield consistent growth." | ||||
