Central Garden & Pet understands that home is central to life and has proudly nurtured happy and healthy homes for over 40 years. With 2020 net sales of $2.7 billion, Central is on a mission to lead the future of the pet and garden industries. The Company's innovative and trusted products are dedicated to help lawns grow greener, gardens bloom bigger, pets live healthier and communities grow stronger. Central is home to a leading portfolio of more than 65 high-quality brands including Pennington®, Nylabone®, Kaytee®, Amdro® and Aqueon®, strong manufacturing and distribution capabilities and a passionate, entrepreneurial growth culture. Central Garden & Pet is based in Walnut Creek, California and has over 6,300 employees across North America and Europe.

Company profile
Ticker
CENT, CENTA
Exchange
Website
CEO
Timothy Cofer
Employees
Incorporated
Location
Fiscal year end
Industry (SIC)
Former names
CENTRAL GARDEN & PET COMPANY
SEC CIK
Corporate docs
Subsidiaries
A.E. McKenzie Co. ULC • All-Glass Aquarium Co., Inc. • Arden Companies, LLC • B2E Corporation • B2E Biotech, LLC • B2E Microbials, LLC • B2E Manufacturing, LLC • Bell Nursery Holdings, LLC • C&S Products Co., Inc. • D&D Commodities Limited ...
IRS number
680275553
CENT stock data
News
Central Garden & Pet Revises Outlook for Fiscal 2022 GAAP EPS
22 Jun 22
Stocks That Hit 52-Week Lows On Friday
6 May 22
Stocks That Hit 52-Week Lows On Thursday
5 May 22
Central Garden & Pet Q2 EPS $1.27 Beats $1.20 Estimate, Sales $954.00M Beat $935.00M Estimate
4 May 22
Earnings Scheduled For May 4, 2022
4 May 22
Press releases
Central Garden & Pet Revises Outlook for Fiscal 2022 GAAP EPS
22 Jun 22
The Small Pet Revolution is Here: Kaytee, Rainn Wilson and Kenneth the Guinea Pig Champion Small Pet Equity in "Small in Show"
20 Jun 22
Central Garden & Pet to Present at the Oppenheimer 22nd Annual Consumer Growth & E-Commerce Conference
7 Jun 22
Central Garden & Pet Announces Q2 Fiscal 2022 Results
4 May 22
Nylabone Donates One Year's Worth of Chew Toys to Guide Dog Foundation and America's VetDogs' Assistance Dogs in Training
27 Apr 22
Calendar
5 May 22
26 Jun 22
24 Sep 22
Financial summary
Quarter (USD) | Mar 22 | Dec 21 | Sep 21 | Jun 21 | |
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Diluted EPS |
Annual (USD) | Sep 21 | Sep 20 | Sep 19 | Sep 18 | |
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Revenue | |||||
Cost of revenue | |||||
Operating income | |||||
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Change in cash | |||||
Diluted EPS |
Cash burn rate (est.) | Burn method: Change in cash | Burn method: Operating income | Burn method: FCF (opex + capex) | Last Q | Avg 4Q | Last Q | Avg 4Q | Last Q | Avg 4Q |
---|---|---|---|---|---|---|
Cash on hand (at last report) | 66.76M | 66.76M | 66.76M | 66.76M | 66.76M | 66.76M |
Cash burn (monthly) | 80.73M | (no burn) | (no burn) | (no burn) | 59.87M | (no burn) |
Cash used (since last report) | 245.12M | n/a | n/a | n/a | 181.8M | n/a |
Cash remaining | -178.36M | n/a | n/a | n/a | -115.04M | n/a |
Runway (months of cash) | -2.2 | n/a | n/a | n/a | -1.9 | n/a |
Recent insider trades
Date | Owner | Security | Transaction | Code | Indirect | 10b5-1 | $Price | #Shares | $Value | #Remaining |
---|---|---|---|---|---|---|---|---|---|---|
16 May 22 | Nicholas Lahanas | Class A Common Stock | Payment of exercise | Dispose F | No | No | 42.12 | 738 | 31.08K | 112,782 |
13 May 22 | Nicholas Lahanas | Class A Common Stock | Sell | Dispose S | No | No | 41.78 | 7,306 | 305.24K | 113,520 |
29 Mar 22 | Machek Howard | Class A Common Stock | Payment of exercise | Dispose F | No | No | 41.98 | 404 | 16.96K | 46,508 |
29 Mar 22 | Yuhas George A. | Class A Common Stock | Payment of exercise | Dispose F | No | No | 41.98 | 512 | 21.49K | 20,878 |
7 Mar 22 | Nicholas Lahanas | Class A Common Stock | Payment of exercise | Dispose F | No | No | 43.27 | 727 | 31.46K | 120,826 |
Institutional ownership, Q1 2022
13F holders | Current |
---|---|
Total holders | 215 |
Opened positions | 17 |
Closed positions | 33 |
Increased positions | 78 |
Reduced positions | 79 |
13F shares | Current |
---|---|
Total value | 1.99B |
Total shares | 48.71M |
Total puts | 0 |
Total calls | 0 |
Total put/call ratio | – |
Largest owners | Shares | Value |
---|---|---|
BLK Blackrock | 8.86M | $366.7M |
Vanguard | 5.79M | $240.52M |
Dimensional Fund Advisors | 3.16M | $131M |
Allspring Global Investments | 2.61M | $109.71M |
STT State Street | 1.88M | $77.83M |
Champlain Investment Partners | 1.69M | $68.76M |
Armistice Capital | 1.54M | $62.64M |
WHG Westwood | 1.53M | $62.25M |
SAMG Silvercrest Asset Management | 1.12M | $45.65M |
GW&K Investment Management | 1.09M | $44.86M |
Financial report summary
?Risks
- The COVID-19 pandemic has impacted how we are operating our business, and the duration and extent to which this will impact our future results of operations and overall financial performance remains uncertain.
- Our operating results and cash flow are susceptible to fluctuations.
- Seeds and grains we use to produce bird feed and grass seed are commodity products subject to price volatility that has had, and could have, a negative impact on us.
- Supply chain delays and interruptions may result in lost sales, reduced fill rates and service levels and delays in expanding capacity and automating processes.
- We are subject to significant risks associated with innovation, including the risk that our new product innovations will not produce sufficient sales to recoup our investment.
- A decline in consumers’ discretionary spending or a change in consumer preferences could reduce our sales and harm our business.
- Supply disruptions in pet birds, small animals and fish may negatively impact our sales.
- Our lawn and garden sales are highly seasonal and subject to adverse weather.
- We depend on a few customers for a significant portion of our business.
- Tariffs or a global trade war could increase the cost of our products, which could adversely impact the competitiveness of our products and our financial results.
- We may be adversely affected by trends in the retail industry.
- Issues with products may lead to product liability, personal injury or property damage claims, recalls, withdrawals, replacements of products, regulatory actions by governmental authorities that could divert resources, affect business operations, decrease sales, increase costs, and put us at a competitive disadvantage, any of which could have a significant adverse effect on our results of operations and financial condition.
- Competition in our industries may hinder our ability to execute our business strategy, increase our profitability or maintain relationships with existing customers.
- We continue to implement enterprise resource planning information technology systems.
- Some of the products that we manufacture and distribute require governmental permits and also subject us to potential environmental liabilities.
- Our business is dependent upon our ability to continue to source products from China.
- Deterioration in operating results could prevent us from fulfilling our obligations under the terms of our indebtedness or impact our ability to refinance our debt on favorable terms as it matures.
- Our acquisition strategy involves a number of risks.
- If our goodwill, indefinite-lived intangible assets or other long-term assets become impaired, we will be required to record impairment charges, which may be significant.
- Our success depends upon our retaining and recruiting key personnel.
- Inflation, economic uncertainty and other adverse macro-economic conditions may harm our business.
- Our inability to protect our trademarks and any other proprietary rights may have a significant, negative impact on our business.
- Rising energy prices could adversely affect our operating results.
- The products that we manufacture and distribute could expose us to product liability claims.
- We have unresolved litigation which could adversely impact our operating results.
- We are subject to cyber security risks and may incur increasing costs in an effort to minimize those risks.
- We do not expect to pay dividends in the foreseeable future.
- We may issue additional shares of our common stock or Class A common stock that could dilute the value and market price of our stock.
- Our founder, through his holdings of our Class B common stock, exercises effective control of the Company, which may discourage potential acquisitions of our business and could have an adverse effect on the market price of our stock.
- We have authorized the issuance of shares of common stock, Class A common stock and preferred stock, which may discourage potential acquisitions of our business and could have an adverse effect on the market price of our common stock and our Class A common stock.
Management Discussion
- Net sales for the three months ended March 26, 2022 increased $19.1 million, or 2.0%, to $954.4 million from $935.3 million for the three months ended March 27, 2021. Organic net sales, which exclude the impact of acquisitions and divestitures in the last 12 months, decreased $32.7 million, or 3.5%, as compared to the fiscal 2021 quarter. Our branded product sales increased $29.2 million, and sales of other manufacturers’ products decreased $10.1 million.
- Pet net sales increased $5.7 million, or 1.2%, to $497.7 million for the three months ended March 26, 2022 from $492.0 million for the three months ended March 27, 2021. This organic sales increase was due primarily to pricing actions taken to offset the current inflationary operating environment. Increases in net sales in our dog and cat treats and toy business and our outdoor cushion business were partially offset by lower sales in our dog bed business. The increase in sales in our dog and cat treats and toy business was due to pricing actions taken to offset inflationary pressures; and the increase in our outdoor cushion business was due primarily to a volume shift from our first quarter to our second quarter. The decrease in our dog bed business was due to a purposeful SKU rationalization. Pet branded product sales increased $6.3 million while sales of other manufacturers' products declined $0.6 million.
- Garden net sales increased $13.4 million, or 3.0%, to $456.7 million for the three months ended March 26, 2022 from $443.3 million for the three months ended March 27, 2021. The sales increase was due to the addition of our fiscal 2021 acquisitions. Organic sales decreased 8.7% due primarily to unfavorable weather resulting in a delayed start to the garden season which more than offset increases from pricing actions taken to offset rising costs. As such, most of our garden businesses had decreased sales in the quarter with the exception of wild bird feed resulting from price increases taken to offset large commodity inflation. Garden branded sales increased $22.9 million due to our fiscal 2021 acquisitions while sales of other manufacturers' products decreased $9.5 million.
Content analysis
?Positive | ||
Negative | ||
Uncertain | ||
Constraining | ||
Legalese | ||
Litigous | ||
Readability |
H.S. sophomore Avg
|
New words:
amid, assumed, combat, delayed, easing, flat, headcount, immaterial, lender, purposeful, rationalization, recommenced, recovery, rent, salary, signaled, SKU, toy, volume
Removed:
adjacent, consumption, discretionary, estimating, evidenced, leverage, predict, uncertainty, volatility
Financial reports
Current reports
8-K/A
Departure of Directors or Certain Officers
7 Jun 22
8-K
Results of Operations and Financial Condition
4 May 22
8-K
Departure of Directors or Certain Officers
1 Apr 22
8-K
Departure of Directors or Certain Officers
9 Feb 22
8-K
Results of Operations and Financial Condition
2 Feb 22
8-K
Entry into a Material Definitive Agreement
21 Dec 21
8-K
Departure of Directors or Certain Officers
1 Dec 21
8-K
Results of Operations and Financial Condition
22 Nov 21
8-K
Departure of Directors or Certain Officers
16 Aug 21
8-K
Results of Operations and Financial Condition
4 Aug 21
Registration and prospectus
424B2
Prospectus for primary offering
4 Oct 20
FWP
Free writing prospectus
1 Oct 20
424B5
Prospectus supplement for primary offering
1 Oct 20
POSASR
Automatic shelf registration (post-effective amendment)
1 Oct 20
424B2
Prospectus for primary offering
9 Aug 18
424B5
Prospectus supplement for primary offering
6 Aug 18
424B2
Prospectus for primary offering
10 Dec 17
424B5
Prospectus supplement for primary offering
6 Dec 17
FWP
Free writing prospectus
6 Dec 17
S-3ASR
Automatic shelf registration
6 Dec 17
Proxies
DEFA14A
Additional proxy soliciting materials
12 Jan 22
DEFA14A
Additional proxy soliciting materials
26 Dec 21
DEFA14A
Additional proxy soliciting materials
23 Dec 20
DEFA14A
Additional proxy soliciting materials
20 Dec 19
DEFA14A
Additional proxy soliciting materials
21 Dec 18
DEF 14A
Definitive proxy
21 Dec 18
DEFA14A
Additional proxy soliciting materials
5 Feb 18
Other
UPLOAD
Letter from SEC
8 Mar 21
CORRESP
Correspondence with SEC
7 Mar 21
CORRESP
Correspondence with SEC
11 Feb 21
UPLOAD
Letter from SEC
31 Jan 21
UPLOAD
Letter from SEC
9 Mar 16
CORRESP
Correspondence with SEC
7 Mar 16
UPLOAD
Letter from SEC
22 Feb 16
EFFECT
Notice of effectiveness
24 Jun 15
CORRESP
Correspondence with SEC
22 Jun 15
UPLOAD
Letter from SEC
21 Jun 15
Ownership
11-K
Annual report of employee stock purchases
17 Jun 22
4
CENTRAL GARDEN & PET / NICHOLAS LAHANAS ownership change
17 May 22
3
CENTRAL GARDEN & PET / Joyce M. McCarthy ownership change
14 Apr 22
4
CENTRAL GARDEN & PET / George A. Yuhas ownership change
31 Mar 22
4
CENTRAL GARDEN & PET / Howard Machek ownership change
31 Mar 22
4
CENTRAL GARDEN & PET / NICHOLAS LAHANAS ownership change
9 Mar 22
4
CENTRAL GARDEN & PET / John D. Walker III ownership change
28 Feb 22
4
CENTRAL GARDEN & PET / WILLIAM E BROWN ownership change
15 Feb 22
SC 13G
CENTRAL GARDEN & PET / Allianz Global Investors U.S. ownership change
13 Feb 22
4
CENTRAL GARDEN & PET / John D. Walker III ownership change
11 Feb 22
Patents
Design
Animal habitat
7 Jun 22
Inventors: Brad L. Mihlbauer, Ryan T. McVeigh, Alexander S. Chirban
Design
Aquarium spout
31 May 22
Inventors: Brad L. Mihlbauer, Ernie Katris
Design
Animal habitat
24 May 22
Inventors: Brad L. Mihlbauer, Ryan T. McVeigh, Alexander S. Chirban
Design
Animal habitat
17 May 22
Inventors: Brad L. Mihlbauer, Ryan T. McVeigh, Alexander S. Chirban
Utility
Composite coating for seed
10 May 22
In an agricultural product, a seed is contained within a composite coating.
Transcripts
2022 Q2
Earnings call transcript
8 May 22
2022 Q1
Earnings call transcript
3 Feb 22
2021 Q3
Earnings call transcript
23 Nov 21
2021 Q3
Earnings call transcript
7 Aug 21
2021 Q2
Earnings call transcript
7 May 21
2021 Q1
Earnings call transcript
4 Feb 21
2020 Q4
Earnings call transcript
23 Nov 20
2020 Q3
Earnings call transcript
8 Aug 20
2020 Q2
Earnings call transcript
10 May 20
2020 Q1
Earnings call transcript
5 Feb 20
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