Central Garden & Pet Boosts FY 2026 EPS Outlook, Plans TRIXIE Deal

Central Garden & Pet reported third‑quarter fiscal results with net sales of $882 million, an 8% decline driven by the exit from its pet distribution business. Excluding that segment, organic sales rose 2% to $862 million, with garden sales up 3% and pet sales stabilizing after a 19% drop in the distribution line. The company posted non‑GAAP diluted earnings per share of $1.54, narrowly beating analysts' expectations, and a net margin of 5.42%.

Management raised its fiscal‑2026 adjusted EPS guidance to $2.85 or better, up from $2.70, citing continued organic growth, eCommerce expansion, and margin improvement. Central Garden & Pet also announced an agreement to acquire an 80% stake in European pet‑supplies firm TRIXIE for up to €400 million, with the transaction expected to close in the first half of fiscal 2027 and excluded from current guidance. CEO Niko Lahanas highlighted the company's focus on brand investment and supply‑chain efficiency, while CFO Brad Smith said higher corporate spending related to the TRIXIE deal and data‑capability investments accounted for the modest decline in operating income.