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    James Chartier • Monness, Crespi, Hardt & Co., Inc.

    James Chartier's questions to Central Garden & Pet Co (CENT) leadership

    James Chartier's questions to Central Garden & Pet Co (CENT) leadership • Q2 2025

    Question

    Jim Chartier of Monness, Crespi, Hardt asked about the impact of the eliminated de minimis tariff exclusion on Chinese online imports. He also questioned if Garden shipments had picked up in recent months and asked for clarification on the Garden segment's POS for the quarter.

    Answer

    John Hanson, President of Pet Consumer Products, noted anecdotal evidence of price increases on Chinese import sites since the de minimis change, suggesting it could be a future tailwind for durables. J.D. Walker, President of Garden Consumer Products, confirmed that both consumption and shipments in the Garden segment improved as weather got better. He clarified that Garden POS was down low-single digits, but flat when excluding the loss of two third-party distribution lines.

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    James Chartier's questions to Central Garden & Pet Co (CENT) leadership • Q1 2025

    Question

    James Chartier of Monness, Crespi, Hardt inquired about the specific percentage of products sourced from China, Mexico, and Canada, and asked for clarification on the term "softer 2Q," including its implications for sales, EPS, and operating margin.

    Answer

    CEO Nicholas Lahanas and CFO Brad Smith clarified that approximately 4% of products are sourced from China and a combined 2% from Canada and Mexico. Lahanas explained that a "softer 2Q" means results will likely be below the strong prior-year Q2, with top-line sales potentially down low-single digits due to the timing shift from Q1, though he noted margins may not necessarily be down.

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    James Chartier's questions to Central Garden & Pet Co (CENT) leadership • Q4 2024

    Question

    James Chartier sought clarity on the company's overall sales outlook and the Garden business in particular. He also asked for the final amount of the grass seed write-down and the cost outlook for the upcoming year, excluding benefits from the Cost and Simplicity program.

    Answer

    CEO Nicholas Lahanas stated that the company does not guide on top-line revenue but is cautious, not expecting exceptional growth, partly due to exiting some low-margin durable pet business. He confirmed the grass seed write-down was $19 million. Regarding costs, he noted the outlook is good but the promotional environment remains a key variable.

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    James Chartier's questions to Mattel Inc (MAT) leadership

    James Chartier's questions to Mattel Inc (MAT) leadership • Q3 2024

    Question

    James Chartier asked about the long-term digital gaming strategy, including the launch schedule for Mattel163 and internally developed games. He also questioned the drivers behind the growth in SG&A.

    Answer

    CEO Ynon Kreiz outlined the three-pronged gaming strategy: licensing, the Mattel163 joint venture (expected to exceed $200M gross billings this year), and self-publishing, with the first game in development. CFO Anthony DiSilvestro attributed the slight increase in SG&A to strategic investments in building capabilities, particularly in digital gaming and information technology.

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