Central Garden & Pet sales rise high in Q3

Central Garden & Pet Company reported that third quarter sales increased 24% to $1.04 billion from third quarter 2020 sales of $833 million.

Net sales for the Walnut Creek, Calif.-based supplier’s garden segment increased 42% to $529 million driven by a $137 million contribution from recent acquisitions as well as organic growth of 5%, with notable strength in live plants, distribution and wild bird feed.

Net sales for the pet segment increased 10% to $508 million driven by strong growth across the segment, with significant contributions from dog and cat, live animals, distribution, and aquatics.

Central Garden & Pet also posted a net income of $76 million for the quarter, rising 11% from a net income of $69 million for the same period last year.

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The Bottom Line: Profits rise 11% to $76 million while strong lawn and garden sales push overall revenue up 24% to $1.04 billion.

What the CEO said: “We delivered another record quarter due to the strong demand for our pet and garden brands and our team's hard work and dedication,” said Tim Cofer, CEO of Central Garden & Pet. “We are encouraged by the early progress on our Central to Home strategy and our third quarter results especially when we consider the extraordinary growth in the prior year quarter. Given our robust year-to-date performance, we are raising our outlook for fiscal 2021.”

Company info: The full third quarter 2021 financial report from Central Garden & Pet is available here.