Earlier, company analysts had estimated a revenue of US$416.65M, which means the reported revenues were US$-3.24 million below the estimates.
Earnings per share (EPS) were reported at US$0.13, which was above estimates by US$0.08 or 160 percent. Analysts had estimated an EPS of US$0.05.
Following the announcement, Central Garden & Pet Co. shares advanced 10.94 percent. The stock price ended at US$31.485, which was near the day’s high of US$31.75.
Central Garden & Pet markets and produces pet food, treats, animal health items and other pet products, along with lawn and garden supplies.
Pet segment financial results in FY16 third quarter
Third quarter net sales for the Central Garden & Pet Co. pet segment increased by 20.6 percent to US$287.2 million, from the same period a year ago. In comparison, overall sales of all segments only increased 12 percent to US$514.5 million compared to US$459.4 million in the third quarter a year ago.
Central Garden & Pet Co(NASDAQ:CENT) announced the earnings results for Fiscal Year 2016 and Q4. The results came in during After-hours on Dec 1, 2016. Company reported revenue of $413.41M. Analysts estimated a revenue of $416.65M. The revenues were $-3.24M or NaN% below the estimates. Earnings per share were $0.13.
Pet owners want a lot from their pet food brands. They want primary proteins that suit what they believe is best for their animal. They want grains or they don't. They want something customized, but it has to be easy to understand.
