Business
Central Garden & Pet Announces Q2 Fiscal 2025 Financial Results
Delivers fiscal 2025 Q2 GAAP EPS of $0.98 vs. $0.93 and non-GAAP EPS of $1.04 vs. $0.99 a year ago amid softer sales in the quarter Reaffirms outlook for
About this update from Central Garden & Pet Company
[{"type":"text","content":"\nDelivers fiscal 2025 Q2 GAAP EPS of $0.98 vs. $0.93 and non-GAAP EPS of $1.04 vs. $0.99 a year ago amid softer sales in the quarter\nReaffirms outlook for fiscal 2025 non-GAAP EPS of $2.20 or better\n\n WALNUT CREEK, Calif.--(BUSINESS WIRE)--\nCentral Garden & Pet Company (NASDAQ: CENT) (NASDAQ: CENTA) (“Central”), a market leader in the pet and garden industries, today announced financial results for its fiscal 2025 second quarter ended March 29, 2025.\nThis press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20250507708476/en/\n“We are pleased with our solid second-quarter results. Despite expected softer sales, our continued focus on improving productivity and execution of our Cost and Simplicity program drove margin and earnings per share growth above last year’s performance,” said Niko Lahanas, CEO of Central Garden & Pet. “Although a significant portion of the garden season is still ahead, and notwithstanding the uncertain macroeconomic and geopolitical environment, we are reaffirming our fiscal year outlook and remain committed to delivering on our Central to Home strategy with excellence.”\n\nAll comparisons are against the second quarter of fiscal 2024.\n\nFiscal 2025 Second Quarter Financial Results\n\nNet sales were $834 million, a decrease of 7%.\n\nGross profit was $273 million, a decrease of 2%. Gross margin expanded by 180 basis points to 32.8%, driven by productivity efforts from Central's Cost and Simplicity program.\n\nSG&A expense was $180 million, a decrease of 3% reflecting cost discipline across the organization. Due to lower net sales, SG&A as a percentage of net sales increased by 100 basis points to 21.6%.\n\nOperating income was $93 million, in line with the prior year. Operating margin expanded by 80 basis points to 11.2%. Non-GAAP operating income was $99 million, also in line with the prior year. On a non-GAAP basis, operating margin expanded by 80 basis points to 11.8%.\n\nNet interest expense was $9 million compared to $11 million.\n\nNet income was $64 million, an increase of 3%. Non-GAAP net income was $68 million, also an increase of 3%.\n\nEarnings per share were $0.98, an increase of $0.05. Non-GAAP Earnings per share were $1.04, also an increase of $0.05.\n\nAdjusted EBITDA of $123 million was $1 million below the prior-year quarter.\n\nThe ...