CENTRAL GARDEN & PET Reports Third Quarter Earnings Results for FY2023
August 22, 2023
🌥️Earnings Overview
On August 2 2023, CENTRAL GARDEN & PET ($NASDAQ:CENT) released its earnings results for the third quarter of FY2023, ending June 30 2023. Total revenue was USD 1023.3 million, representing a 0.8% increase from the same quarter in the preceding year. The company also reported a net income of USD 83.1 million, rising year-over-year by 10.2%.
Share Price
CGP stock opened at $39.7 and closed at $40.2, a slight 0.3% increase from the prior closing price of $40.1. CGP attributed this growth to strong sales across all product categories, including pet supplies, garden products, and other merchandise. Overall, CGP’s third quarter results are an indication of the company’s continued success in delivering strong financial performance. Going forward, management remains confident that it will continue to build on these results over the remainder of the fiscal year. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for CENT. More…
| Total Revenues | Net Income | Net Margin |
| 3.27k | 120.82 | 3.7% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for CENT. More…
| Operations | Investing | Financing |
| 275.93 | -83.6 | -54.24 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for CENT. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 3.42k | 1.97k | 26.92 |
Key Ratios Snapshot
Some of the financial key ratios for CENT are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 8.5% | 5.3% | 6.7% |
| FCF Margin | ROE | ROA |
| 6.7% | 9.7% | 4.0% |
Analysis
After analyzing CENTRAL GARDEN & PET’s financials, our Star Chart revealed that the company is strong in asset, profitability, medium in growth and weak in dividend. As a result, we classified CENTRAL GARDEN & PET as an ‘elephant’, an entity that is rich in assets after deducting off liabilities. Given CENTRAL GARDEN & PET’s high health score of 7/10, considering its cashflows and debt, it is capable to safely ride out any crisis without the risk of bankruptcy. Therefore, investors looking for a long-term stable investment with healthy returns, should highly consider investing in CENTRAL GARDEN & PET. Furthermore, investors interested in rapid growth and higher dividends should look elsewhere as CENTRAL GARDEN & PET lacks in these areas. More…
Peers
It competes with The Kraft Heinz Co, Thai Union Group PCL, and Mondelez International Inc.
– The Kraft Heinz Co ($NASDAQ:KHC)
The Kraft Heinz Co is a food and beverage company with a market cap of 46.24B as of 2022. The company has a Return on Equity of 3.49%. The company produces and markets food and beverage products, including condiments, sauces, salad dressings, spreads, cheese, and other dairy products.
– Thai Union Group PCL ($SET:TU)
Thai Union Group PCL is one of the world’s leading seafood producers. The company has a market cap of 80.06B as of 2022 and a return on equity of 9.53%. Thai Union is dedicated to bringing sustainable seafood to consumers around the globe. The company is committed to responsible fishing and aquaculture practices, and to protecting the oceans and the creatures that live within them. Thai Union’s products are sold in over 150 countries and enjoyed by millions of people every day.
– Mondelez International Inc ($NASDAQ:MDLZ)
Mondelez International Inc is one of the world’s largest snacks companies, with a market cap of 88.01B as of 2022. The company has a wide range of popular brands, including Oreo, Cadbury, and Nabisco. Mondelez International has a strong focus on innovation and has a strong track record of delivering shareholder value. The company has a Return on Equity of 9.19%.
Summary
CENTRAL GARDEN & PET recently reported their third quarter of FY2023 financial results, ending June 30 2023. Total revenue increased by 0.8% compared to the same quarter in the previous year, amounting to USD 1023.3 million. Net income grew by 10.2%, reaching USD 83.1 million. This solid performance suggests that investing in CENTRAL GARDEN & PET is a prudent decision for investors looking for both capital growth and dividend yield, given the company’s attractive financial metrics and ample opportunities for future growth.
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