Pet company Central Garden & Pet (NASDAQ: CENT) will be reporting earnings this Wednesday after market close. Here’s what investors should know.
Central Garden & Pet missed analysts’ revenue expectations last quarter, reporting revenues of $617.4 million, down 6% year on year. It was a satisfactory quarter for the company, with a beat of analysts’ EPS estimates but a slight miss of analysts’ revenue estimates.
Is Central Garden & Pet a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.
This quarter, the market is expecting Central Garden & Pet’s revenue to grow 2.1% year on year, a reversal from the 7.4% decrease it recorded in the same quarter last year.
The majority of analysts covering the company have reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Central Garden & Pet has missed Wall Street’s revenue estimates multiple times over the last two years.
Looking at Central Garden & Pet’s peers in the household products segment, some have already reported their Q1 results, giving us a hint as to what we can expect. Procter & Gamble delivered year-on-year revenue growth of 7.4%, beating analysts’ expectations by 3.6%, and WD-40 reported revenues up 10.7%, topping estimates by 4.7%. Procter & Gamble traded up 1.8% following the results while WD-40 was down 4%.
Read our full analysis of Procter & Gamble’s results here and WD-40’s results here.
Investors in the household products segment have had steady hands going into earnings, with share prices up 1.3% on average over the last month. Central Garden & Pet is down 1.9% during the same time and is heading into earnings with an average analyst price target of $46.50 (compared to the current share price of $35.67).
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