$CENTA

CENTRAL GARDEN & PET CO

CIK:0000887733|SEC Filings

Condensed Consolidated Statements of Operations - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Jun. 27, 2026	Jun. 28, 2025	Jun. 27, 2026	Jun. 28, 2025
Income Statement [Abstract]
Net sales	$ 882,362	$ 960,913	$ 2,405,887	$ 2,450,886
Cost of goods sold	565,444	628,903	1,598,797	1,650,094
Gross profit	316,918	332,010	807,090	800,792
Selling, general and administrative expenses	191,074	196,884	550,777	544,350
Operating income	125,844	135,126	256,313	256,442
Interest expense	(14,279)	(14,360)	(42,858)	(43,340)
Interest income	6,512	5,517	18,240	17,409
Other income	1,511	1,069	1,342	96
Income before income taxes and noncontrolling interest	119,588	127,352	233,037	230,607
Income tax expense	29,596	31,941	56,214	56,208
Income including noncontrolling interest	89,992	95,411	176,823	174,399
Net income attributable to noncontrolling interest	136	404	705	1,750
Net income attributable to Central Garden & Pet Company	$ 89,856	$ 95,007	$ 176,118	$ 172,649
Net income per share attributable to Central Garden & Pet Company:
Basic (in usd per share)	$ 1.46	$ 1.53	$ 2.87	$ 2.72
Diluted (in usd per share)	$ 1.45	$ 1.52	$ 2.84	$ 2.69
Weighted average shares used in the computation of net income per share:
Basic (in shares)	61,452	61,980	61,409	63,557
Diluted (in shares)	61,947	62,610	61,925	64,283

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands	9 Months Ended
	Jun. 27, 2026	Jun. 28, 2025
Cash flows from operating activities:
Net income	$ 176,823	$ 174,399
Adjustments to reconcile net income to net cash used in operating activities:
Depreciation and amortization	60,977	64,063
Amortization of deferred financing costs	1,879	2,021
Non-cash lease expense	43,725	45,118
Stock-based compensation	15,699	15,572
Gain on divestiture	(2,479)	0
Deferred income taxes	4,481	4,587
Other operating activities	1,898	(1,851)
Changes in assets and liabilities (excluding businesses acquired):
Accounts receivable	(130,770)	(195,704)
Inventories	22,268	39,800
Prepaid expenses and other assets	2,522	(3,992)
Accounts payable	8,189	(1,471)
Accrued expenses	47,630	48,390
Other long-term obligations	(1,548)	2,831
Operating lease liabilities	(43,699)	(43,983)
Net cash provided by operating activities	207,595	149,780
Cash flows from investing activities:
Additions to property, plant and equipment	(33,851)	(30,580)
Payments to acquire companies, net of cash acquired	(57,720)	(3,318)
Proceeds from divestiture	30,644	0
Other investing activities	(50)	(150)
Net cash used in investing activities	(60,977)	(34,048)
Cash flows from financing activities:
Repayments of long-term debt	(53)	(202)
Repurchase of common stock, including shares surrendered for tax withholding	(28,822)	(154,734)
Distribution to noncontrolling interest	(1,139)	(1,346)
Payment of financing costs	(2,329)	0
Net cash used in financing activities	(32,343)	(156,282)
Effect of exchange rate changes on cash and equivalents	(494)	(114)
Net increase (decrease) in cash, cash equivalents and restricted cash	113,781	(40,664)
Cash, cash equivalents and restricted cash at beginning of year	898,433	768,403
Cash, cash equivalents and restricted cash at end of period	1,012,214	727,739
Supplemental information:
Cash paid for interest	48,291	48,778
Cash paid for income taxes – net of refunds	35,295	44,281
Lease liabilities arising from obtaining right-of-use assets	$ 9,519	$ 56,833

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Jun. 27, 2026	Sep. 27, 2025	Jun. 28, 2025
Current assets:
Cash and cash equivalents	$ 996,710	$ 882,488	$ 713,049
Restricted cash	15,504	15,945	14,690
Accounts receivable (less allowance for credit losses of $8,884, $8,585 and $8,011)	460,243	325,297	522,712
Inventories, net	631,649	722,106	718,267
Prepaid expenses and other	30,593	30,294	31,497
Total current assets	2,134,699	1,976,130	2,000,215
Plant, property and equipment, net	349,324	363,188	366,362
Goodwill	545,841	554,692	554,692
Other intangible assets, net	426,901	447,643	455,100
Operating lease right-of-use assets	189,559	222,863	220,182
Other assets	143,629	61,127	60,771
Total	3,789,953	3,625,643	3,657,322
Current liabilities:
Accounts payable	217,277	234,618	210,926
Accrued expenses	295,689	247,213	294,395
Current lease liabilities	50,686	56,865	56,779
Current portion of long-term debt	55	62	81
Total current liabilities	563,707	538,758	562,181
Long-term debt	1,193,003	1,191,641	1,191,179
Long-term lease liabilities	164,849	191,739	188,307
Deferred income taxes and other long-term obligations	121,493	118,572	125,125
Equity:
Additional paid-in capital	573,770	571,392	566,236
Retained earnings	1,175,716	1,015,096	1,024,902
Accumulated other comprehensive loss	(4,442)	(3,849)	(3,532)
Total Central Garden & Pet Company shareholders’ equity	1,745,670	1,583,268	1,588,235
Noncontrolling interest	1,231	1,665	2,295
Total equity	1,746,901	1,584,933	1,590,530
Total	3,789,953	3,625,643	3,657,322
Common Class One
Equity:
Common stock	97	97	97
Common Class A
Equity:
Common stock	513	516	516
Common Class B
Equity:
Common stock	$ 16	$ 16	$ 16