Business

Central Garden and Pet sales soar in Q3

Central Garden and Pet has announced that total sales rose by 18% to $833.5m (£637m) in the third quarter ended 27 June. 

This rise was largely driven by organic strength in both its garden and pet segments.

In addition, net income rose to $68.8m (£52.6m), against the $46.2m (£35.4m) recorded the year prior. EBITDA for the quarter was $117.m (£90m), up from $82m (£62.7m)in the third quarter of 2019. 

Across its pet segment, quarterly sales rose by 18% to $413.3m (£316m), while Organic Pet sales increased by 15%, with “notable” strength in pet distribution, dog treats and chews, animal health, and small animal food and supplies. 

These gains were partially offset by a decline in live fish sales, however, due to a major retailer exiting the category in the year, as well as Covid-19 related live animal shipment and supply limitations.

Nonetheless, the segment’s operating income increased to $50.8m (£38,9m), up 44.8% compared to the third quarter of 2019, while EBITDA increased from $43.1m (£33m) to $59.1m (£45m), primarily driven by volume strength, favorable mix, and overhead efficiencies.

Tim Cofer, CEO of Central Garden and Pet, said: “Thanks to the hard work and dedication of our employees and our relentless focus on meeting the needs of our customers and consumers, we are proud to report that Central Garden and Pet delivered the strongest quarter in the company’s history. 

“I am very pleased with how we continue to navigate the challenging external landscape, while prioritizing the health and safety of our people and executing against our evolving strategy and goals.”

He added: “We will be holding a virtual Investor Day in conjunction with the announcement of our year end and fourth quarter results. 

“Attendees can expect to hear more about our Vision2025 strategy, engage with our top leaders and learn about how Central Garden and Pet is poised for growth in the future.”

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