Central Garden & Pet Q3 sales blossom
Central Garden & Pet reported third quarter net sales increased 14.5% to $657.9 million compared to $574.6 million in the third quarter a year ago.
The Walnut Creek, Calif.-based lawn and garden and pet products supplier said sales growth was driven by recent acquisitions along with strong organic growth in the company’s pet segment.
Branded product sales rose 11.8% to $516.8 million for the quarter while sales of other manufacturers’ products increased 25.5% to $141.1 million, impacted by the acquisition of General Pet, the company's new distribution business.
Central Garden & Pet also reported a net income of $41.5 million, a 28.8% increase compared to a net income of $32.2 million in the third quarter a year ago.
"Central continued its strong growth trajectory during the quarter, despite unfavorable weather and the calendar shift, which significantly impacted our Garden segment," said George Roeth, president and CEO of Central Garden & Pet. "It is really a testament to our strategy and the strength and diversity of our portfolio of businesses to be able to show meaningful growth in such a challenging environment."
Net sales for the company’s garden segment rose 16.1% to $303.2 million, due to the recent acquisition of Bell Nursery. The third quarter is typically the largest and only profitable quarter of the year for Bell Nursery, Central Garden & Pet said.
The Walnut Creek, Calif.-based lawn and garden and pet products supplier said sales growth was driven by recent acquisitions along with strong organic growth in the company’s pet segment.
Branded product sales rose 11.8% to $516.8 million for the quarter while sales of other manufacturers’ products increased 25.5% to $141.1 million, impacted by the acquisition of General Pet, the company's new distribution business.
Central Garden & Pet also reported a net income of $41.5 million, a 28.8% increase compared to a net income of $32.2 million in the third quarter a year ago.
"Central continued its strong growth trajectory during the quarter, despite unfavorable weather and the calendar shift, which significantly impacted our Garden segment," said George Roeth, president and CEO of Central Garden & Pet. "It is really a testament to our strategy and the strength and diversity of our portfolio of businesses to be able to show meaningful growth in such a challenging environment."
Net sales for the company’s garden segment rose 16.1% to $303.2 million, due to the recent acquisition of Bell Nursery. The third quarter is typically the largest and only profitable quarter of the year for Bell Nursery, Central Garden & Pet said.