Central Garden & Pet Company · NASDAQ:CENT
Central Garden & Pet — Q1 2025 Earnings Presentation
15 slides from Central Garden & Pet's earnings presentation, Feb 5, 2025
Slide 1: Q1 FY2025 Investor Presentation
Q1 FY2025 Investor Presentation 2.5.2025
Slide 2: Key Themes
Key Themes Niko Lahanas, CEO Financials, Segments & Outlook Brad Smith, CFO Management Q&A Niko Lahanas, Brad Smith, J.D. Walker, John Hanson Q1 FY25 Investor Presentation 2
Slide 3: Forward-looking Statements
Forward-looking Statements The statements contained in this presentation which are not historical facts, including statements concerning productivity initiatives and earnings guidance for fiscal 2025, are forward-looking statements that are subject to risks and uncertainties that could cause actual
Slide 4: Niko Lahanas, CEO
Niko Lahanas CEO Q1 FY25 Investor Presentation 4
Slide 5: Three Key Themes
Three Key Themes 1 2 3 Fiscal 2025 is off Progress on Cost & Maintain EPS guidance to a strong start Simplicity program of $2.20 or better – Q1 benefited from favorable timing of shipments and – Grew net sales – Realized benefits from promotional activities – Improved margins initiatives implemented
Slide 6: Brad Smith, CFO
Brad Smith CFO Q1 FY25 Investor Presentation 6
Slide 7: Strong FY25 Q1 Performance
Strong FY25 Q1 Performance Net Sales Gross Margin Operating Income EPS (in $ millions) (as a percentage of Net Sales) (in $ millions) (in $) +3% +160bps +$20 +$0.20 Q1 FY25 Investor Presentation 7
Slide 8: Pet Segment: $427 million Q1 FY25 Net Sales
Pet Segment: $427 million Q1 FY25 Net Sales Headwinds & Challenges Tailwinds & Successes • Consumables POS remained flat • Growth driven primarily by Dog & Cat • While improving, durables declined • Strong eCommerce growth, now single-digits representing 28% of Pet sales • Lower sales in Aquatics dr
Slide 9: Garden Segment: $229 million Q1 FY25 Net Sales
Garden Segment: $229 million Q1 FY25 Net Sales Headwinds & Challenges Tailwinds & Successes • Favorable timing of shipments and weather • Growth driven by Wild Bird and Controls & • Lower sales in distribution Fertilizer business • ECommerce grew double digits • Q1 is smallest quarter of the year •
Slide 10: Improved Cash & Liquidity
Improved Cash & Liquidity Adj. EBITDA Cash & Cash Long-Term Gross Leverage(1) (in $ millions) Equivalents Debt (in $ millions) (in $ millions) +50% +$277 Q1 FY25 Investor Presentation (1) Calculated as Indebtedness / Adj. EBITDA as defined by the Company's ABL credit agreement 10
Slide 11: Reaffirming guidance: FY25 non-GAAP EPS of $2.20 or better
Reaffirming guidance: FY25 non-GAAP EPS of $2.20 or better Committed to Central to Home strategy Challenging external environment • Staying disciplined on cost & cash agenda • Continued pressures on consumers • Making targeted investments in critical capabilities • Challenges in brick-and-mortar cha
Slide 12: Q&A Session
Q&A Session Please reach out to us with any comments or questions. IR@Central.com (925) 412-6726
Slide 13: Appendix
Appendix IF CENTRAL GARDEN & PET
Slide 14: Use of Non-GAAP Financial Measures
Use of Non-GAAP Financial Measures We report our financial results in accordance with generally accepted accounting principles ("GAAP"). However, to supplement the financial results prepared in accordance with GAAP, we use non-GAAP financial measures including adjusted EBITDA. Management uses adjust
Slide 15: GAAP to Non-GAAP Reconciliation for the Fiscal Quarter Ended
GAAP to Non-GAAP Reconciliation for the Fiscal Quarter Ended (in thousands) Adjusted EBITDA Reconciliation December 28, 2024 December 30, 2023 Net income attributable to Central Garden & Pet Company $ 14,009 $ 430 Interest expense, net 7,730 9,707 Other expense (income) 1,717 (993) Income tax expens
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