Central Garden & Pet Co. Files 2024 10-K
Ticker: CENTA · Form: 10-K · Filed: Nov 27, 2024 · CIK: 887733
Sentiment: neutral
Topics: 10-K, annual-report, financials
TL;DR
CENT's 2024 10-K is in. Check debt & assets.
AI Summary
Central Garden & Pet Co. filed its 10-K for the fiscal year ending September 28, 2024. The filing details the company's financial performance and operations, including its business address at 1340 Treat Boulevard, Suite 600, Walnut Creek, CA. Key financial aspects such as long-term debt and property, plant, and equipment are highlighted, with the company incorporated in Delaware.
Why It Matters
This 10-K filing provides investors and stakeholders with a comprehensive overview of Central Garden & Pet Co.'s financial health and strategic positioning for the fiscal year 2024.
Risk Assessment
Risk Level: medium — The filing is a standard annual report and does not contain immediate red flags or significant positive news that would alter the risk profile.
Key Numbers
- 0.25 P1Y — Fiscal Year End (Indicates the end of the reporting period for the fiscal year 2024.)
- 5/14/2027 — Filing Date (This is the date the filing was made available.)
Key Players & Entities
- CENTRAL GARDEN & PET CO (company) — Filer
- 0000887733 (company) — Central Index Key
- 1340 TREAT BOULEVARD SUITE 600 (location) — Business Address
- WALNUT CREEK, CA (location) — Business City and State
- DE (location) — State of Incorporation
- 20240928 (date) — Fiscal Year End
FAQ
What is the company's primary business classification?
Central Garden & Pet Co. is classified under STANDARD INDUSTRIAL CLASSIFICATION: WHOLESALE-MISCELLANEOUS NONDURABLE GOODS [5190].
What is the company's fiscal year end date?
The company's fiscal year ends on September 28 (20240928).
Where is Central Garden & Pet Co. headquartered?
The company's business and mailing address is 1340 TREAT BOULEVARD, SUITE 600, WALNUT CREEK, CA 94597.
What is the SEC file number for this 10-K filing?
The SEC file number is 001-33268.
What is the state of incorporation for Central Garden & Pet Co.?
Central Garden & Pet Co. is incorporated in Delaware (DE).
Filing Stats: 4,524 words · 18 min read · ~15 pages · Grade level 15.3 · Accepted 2024-11-27 16:32:07
Key Financial Figures
- $3.2 billion — ns to create a company of approximately $3.2 billion in net sales. These acquisitions have s
Filing Documents
- cent-20240928.htm (10-K) — 2210KB
- q4ex-1023.htm (EX-10.23) — 18KB
- q4ex-1024.htm (EX-10.24) — 16KB
- q42024ex-19.htm (EX-19) — 60KB
- q42024ex-21.htm (EX-21) — 23KB
- q42024ex-22.htm (EX-22) — 33KB
- q42024ex-23.htm (EX-23) — 2KB
- q42024ex-311.htm (EX-31.1) — 9KB
- q42024ex-312.htm (EX-31.2) — 9KB
- q42024ex-321.htm (EX-32.1) — 4KB
- q42024ex-322.htm (EX-32.2) — 4KB
- q42024ex-97.htm (EX-97) — 39KB
- cent-20240928_g1.jpg (GRAPHIC) — 99KB
- cent-20240928_g2.jpg (GRAPHIC) — 38KB
- cent-20240928_g3.jpg (GRAPHIC) — 21KB
- cent-20240928_g4.jpg (GRAPHIC) — 47KB
- image_0.jpg (GRAPHIC) — 11KB
- image_01.jpg (GRAPHIC) — 75KB
- 0000887733-24-000029.txt ( ) — 12608KB
- cent-20240928.xsd (EX-101.SCH) — 76KB
- cent-20240928_cal.xml (EX-101.CAL) — 119KB
- cent-20240928_def.xml (EX-101.DEF) — 407KB
- cent-20240928_lab.xml (EX-101.LAB) — 970KB
- cent-20240928_pre.xml (EX-101.PRE) — 718KB
- cent-20240928_htm.xml (XML) — 1774KB
Risk Factors
Item 1A. Risk Factors 12
Unresolved Staff Comments
Item 1B. Unresolved Staff Comments 12
Cybersecurity
Item 1C. Cybersecurity 20
Properties
Item 2. Properties 13
Legal Proceedings
Item 3. Legal Proceedings 14
Mine Safety Disclosures
Item 4. Mine Safety Disclosures 14 PART II
Market for the Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities
Item 5. Market for the Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities 15
Reserved
Item 6. Reserved 17
Management's Discussion and Analysis of Financial Condition and Results of Operations
Item 7. Management's Discussion and Analysis of Financial Condition and Results of Operations 17
Quantitative and Qualitative Disclosure About Market Risk
Item 7A. Quantitative and Qualitative Disclosure About Market Risk 32
Financial Statements and Supplementary Data
Item 8. Financial Statements and Supplementary Data 34
Changes in and Disagreements With Accountants on Accounting and Financial Disclosure
Item 9. Changes in and Disagreements With Accountants on Accounting and Financial Disclosure 34
Controls and Procedures
Item 9A. Controls and Procedures 34
Other Information
Item 9B. Other Information 35
Disclosure Regarding Foreign Jurisdictions that Prevent Inspections
Item 9C. Disclosure Regarding Foreign Jurisdictions that Prevent Inspections 35 PART III
Directors, Executive Officers and Corporate Governance
Item 10. Directors, Executive Officers and Corporate Governance 35
Executive Compensation
Item 11. Executive Compensation 35
Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters
Item 12. Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters 36
Certain Relationships and Related Transactions, and Director Independence
Item 13. Certain Relationships and Related Transactions, and Director Independence 36
Principal Accountant Fees and Services
Item 14. Principal Accountant Fees and Services 36 PART IV
Exhibits and Financial Statement Schedules
Item 15. Exhibits and Financial Statement Schedules 36
Form 10-K Summary
Item 16. Form 10-K Summary 37 i
FORWARD-LOOKING STATEMENTS
FORWARD-LOOKING STATEMENTS This Form 10-K includes "forward-looking statements." Forward-looking statements include statements concerning our plans, objectives, goals, strategies, future events, future revenues or performance, projected cost savings, capital expenditures, financing needs, plans or intentions relating to acquisitions, our competitive strengths and weaknesses, our business strategy and the trends we anticipate in the industries and markets in which we operate and other information that is not historical information. When used in this Form 10-K, the words "estimates," "expects," "anticipates," "projects," "plans," "intends," "believes" and variations of such words or similar expressions are intended to identify forward-looking statements. All forward-looking statements, including, without limitation, our examination of historical operating trends, are based upon our current expectations and various assumptions. Our expectations, beliefs and projections are expressed in good faith, and we believe there is a reasonable basis for them, but we cannot assure you that our expectations, beliefs and projections will be realized. There are a number of risks and uncertainties that could cause our actual results to differ materially from the forward-looking statements contained in this Form 10-K. Important factors that could cause our actual results to differ materially from the forward-looking statements we make in this Form 10-K are set forth in this Form 10-K, including the factors described in the section entitled "Item 1A – Risk Factors." If any of these risks or uncertainties materializes, or if any of our underlying assumptions are incorrect, our actual results may differ significantly from the results that we express in or imply by any of our forward-looking statements. We do not undertake any obligation to revise these forward-looking statements to reflect future events or circumstances, except as required by law. Presently known risk factors include,
Business
Item 1. Business Our Company Central Garden & Pet Company ("Central") is a market leader in the pet and garden industries in the United States. For over 40 years, Central has marketed innovative and trusted solutions helping lawns grow greener, gardens bloom bigger, pets live healthier, and communities grow stronger. We manage our operations through two reportable segments: Pet and Garden. Our Pet segment includes dog and cat supplies such as treats and chews, toys, beds and containment, grooming products, waste management and training pads; supplies for aquatics, small animals, reptiles and pet birds including toys, enclosures and habitats, bedding, food and supplements; products for equine and livestock, animal and household health and insect control products; live fish and small animals as well as outdoor cushions. These products are sold under brands such as Aqueon , Cadet , C&S , Comfort Zone , Farnam , Four Paws , Kaytee , Nylabone and Zilla . Our Garden segment includes lawn and garden consumables such as grass seed; vegetable, flower and herb packet seed; wild bird feed, bird houses and other birding accessories; weed, grass, and other herbicides, insecticide and pesticide products; fertilizers and live plants. These products are sold under brands such as Amdro , Ferry-Morse , Pennington and Sevin . The following charts indicate each class of similar products that represented approximately 10% or more of our consolidated net sales and the percentage of net sales represented by each segment in fiscal 2024. Strategy Our Central to Home strategy reinforces our unique purpose to nurture happy and healthy homes and our ambition to lead the future of the pet and garden industries. Our objective is to grow net sales, operating income and cash flows by developing new products, increasing market share, acquiring businesses and working in partnership with our customers to grow the categories in which we participate. We run our business with a long-term perspec