okbet casino slot

okbet casino slot Judge rejects request to sideline SJSU volleyball playerNCR Atleos chief accounting officer sells $9,240 in stock

After Trump’s win, Black women are rethinking their role as America’s reliable political organizers

An online debate over foreign workers in tech shows tensions in Trump's political coalitionUp to 15 centimetres of snow is expected to fall in the nation's capital from Wednesday morning through Thursday morning. It's the kind of weather that many drivers despise, but for winter sports enthusiasts, it can't come soon enough. "I'm super excited. It's going to be great. I'm really looking forward to it," said Paul Rowland, who is preparing for his first ski season in about 25 years. "I didn't get to go out last year because, of course the snow sucked. So, we're hoping this year is a better snow season." Rowland spoke to CTV News while being fitted for a new pair of ski boots at Kunstadt Sports in the Glebe. He's just one of the many customers gearing up and preparing for the ski season ahead in what is the busiest time of year for the locally owned shop. "It's really busy, which is awesome. It's a lot of fun for us here. We're all skiers and snowboarders ourselves, so, it's fun to share in the excitement that everybody has," said store manager Mitch Craig. "People buy skis, and they may have them for ten years, but every year they need one or two different tune-ups. So, we have a lot of demands for service." It's been a slow start to the season at some nearby ski hills including the Mont Tremblant Ski Resort, which was forced to push back its opening day , and cancel the PwC Tremblant World Cu p. But at Camp Fortune, 36 snow guns and crews are hard at work to ensure the hill can open on schedule. Opening day is set for Friday. Camp Fortune Assistant General Manager Erin Boucher says climate change means ski resorts need to adapt and invest in new technology. "We have three groomers out ready to push the snow around because this will be challenging snow to work with," said Boucher. "It's going to be heavy; it's not going to be light and fluffy, but once the machines work it, it will be an enjoyable ski experience." New at Camp Fortune this year is a TechnoAlpin fan gun, which carries a price tag of $65,000 and can produce 35 gallons of snow per minute. That's more than double the output of its smaller counterparts at the ski resort. It can also create snow in warmer temperatures, up to -2 C. Boucher says taking advantage of improved snow-making technology is crucial for the long-term sustainability in eastern Canada. "Ski resorts invest quite heavily in the equipment to make winter happen. So, as long as it's cold, we can make winter happen," she said. "There are a lot of questions about climate change and how we are adapting, but science is science, and we still need freezing temperatures to make snow, but the machines are improving, and you can now make snow at a slightly warmer temperature compared to before." Regardless of how the snow is made, skiers say they just can't wait to get out on the slopes. "I'm super excited. I've been looking forward to it since last year," said Craig. "I got some new gear this year that I'm trying to get out in and try on so I can't wait!" Shopping Trends The Shopping Trends team is independent of the journalists at CTV News. We may earn a commission when you use our links to shop. Read about us. Editor's Picks 19 Of The Best Stocking Stuffers For Teenagers 13 Of The Best Self-Care Gifts You Can Find On Amazon Canada The Ultimate 2024 Holiday Gift Guide For People Who Love Working Out Home Our Guide To The Best Sectional Sofas You Can Get In Canada Our Guide To The Best Electric Snow Shovels In Canada In 2024 (And Where To Get Them) Our Guide To The Best Hydroponic Gardens In Canada In 2024 (And Where To Get Them) Gifts Here Are All The Gift Wrapping Supplies You Should Order Before The Holidays 17 Sweet Treats And Snacks That Make Great Stocking Stuffers 15 Gifts That'll Pry Their Eyes Away From Screens For A Bit Beauty Our Guide To The Best Self Tanners You Can Get In Canada 20 Anti-Aging Skincare Products That Reviewers Can’t Stop Talking About 12 Budget-Friendly Makeup Brushes And Tools Worth Adding To Your Kit Deals Black Friday May Be Over, But You Can Still Take Advantage Of These Amazing Sales On Amazon Canada It's Officially Travel Tuesday: Here Are The Best Deals On Flights, Hotels, And Vacations The Waterpik Advanced Water Flosser Will Make Cleaning Your Teeth So Much Easier — And It's 40% Off For Cyber Monday Ottawa Top Stories TRAVEL ADVISORY | Winter weather travel advisory in effect as Ottawa expects first notable snowfall 1 teen, 4 adults injured in crash involving school bus and vehicle in south Ottawa 'Adapting is huge': Skiers, snowboarders prepare for first significant snowfall Jewish pro-Palestinian protesters occupy Ottawa Parliament building Power being restored after outage affects thousands in Gatineau Driver watching porn behind the wheel on Hwy. 417 facing fine, demerit points Thrifting gains popularity during the holiday season Chief William Commanda Bridge closing for winter as of Wednesday CTVNews.ca Top Stories Mexico president says Canada has a 'very serious' fentanyl problem Foreign Affairs Minister Mélanie Joly is not escalating a war of words with Mexico, after the Mexican president criticized Canada's culture and its framing of border issues. Freeland says it was 'right choice' for her not to attend Mar-a-Lago dinner with Trump Deputy Prime Minister and Finance Minister Chrystia Freeland says it was 'the right choice' for her not to attend the surprise dinner with Prime Minister Justin Trudeau at Mar-a-Lago with U.S. president-elect Donald Trump on Friday night. Quebec doctors who refuse to stay in public system for 5 years face $200K fine per day Quebec's health minister has tabled a bill that would force new doctors trained in the province to spend the first five years of their careers working in Quebec's public health network. NDP won't support Conservative non-confidence motion that quotes Singh NDP Leader Jagmeet Singh says he won't play Conservative Leader Pierre Poilievre's games by voting to bring down the government on an upcoming non-confidence motion. Speaker's ruling clears path for Trudeau's government to face successive tests of confidence in days ahead After rallying his party's caucus and staffers on Parliament Hill Tuesday, NDP Leader Jagmeet Singh signalled that he's still not ready to help the other opposition parties trigger an early election, yet. Opposition leaders talk unity following Trudeau meeting about Trump, minister calls 51st state comment 'teasing' The prime minister’s emergency meeting with opposition leaders on Tuesday appears to have bolstered a more united front against U.S. president-elect Donald Trump’s tariff threats. Calgary man who drove U-Haul over wife sentenced to 15 years A Calgary man who killed his wife in 2020 when he drove over her in a loaded U-Haul has been sentenced to 15 years behind bars. Man severely injured saving his wife from a polar bear attack in the Far North A man was severely injured Tuesday morning when he leaped onto a polar bear to protect his wife from being mauled in the Far North community of Fort Severn. Canada is pausing private refugee sponsorship applications until 2026 Immigration Minister Marc Miller says that the recent pause in most private refugee sponsorships is because there is an 'oversupply' of applications and they don't want to give people fleeing war zones false hope. Atlantic Snow, rain, and wind expected for Maritimes this week with early December storm A developing low pressure skirting colder air in place across eastern parts of the country will bring snow, rain, and wind to the Maritimes on Thursday. Cape Breton investigating last year of municipal credit card transactions The Cape Breton Regional Municipality (CBRM) is investigating more than a year of transactions on a legislative credit card due to a lack of documents. N.B. woman dies after hit and run in Notre-Dame: RCMP A 40-year-old New Brunswick woman has died after she was struck by a vehicle in Notre-Dame, N.B. Toronto Richmond Hill jewelry store smash-and-grab caught on video, 5 suspects outstanding Video footage has surfaced on social media of a violent daytime robbery earlier this week at a jewelry store in a Richmond Hill shopping centre. Walking pneumonia cases in Ontario have nearly tripled since 2019: report The number of walking pneumonia cases seen in Ontario this year is triple the amount of what was reported in 2019, before the COVID-19 pandemic. Process around Ontario Place redevelopment was 'unfair' and didn't follow rules: AG Ontario's auditor general is slamming the Ford government for failing to follow proper process around the redevelopment of Ontario Place, including a revelation that senior staff communicated directly with Therme Canada and other applicants while proposals were still being accepted. Montreal Despite devastating poll, Quebec Premier Legault confident he’s here to stay Despite a devastating poll, Premier François Legault is confident that he will lead the CAQ troops into the next electoral battle in two years' time. Quebec doctors who refuse to stay in public system for 5 years face $200K fine per day Quebec's health minister has tabled a bill that would force new doctors trained in the province to spend the first five years of their careers working in Quebec's public health network. Quebec man get prison sentence after trying to smuggle fake permanent residence cards, licences A Quebec man has been sentenced to prison after attempting to smuggle more than 1,000 forged documents into the country, including Canadian permanent resident cards and driver's licences. Northern Ontario Man severely injured saving his wife from a polar bear attack in the Far North A man was severely injured Tuesday morning when he leaped onto a polar bear to protect his wife from being mauled in the Far North community of Fort Severn. As propane tanks exploded, homeless Sudbury, Ont., man pulls woman from burning tent TJ Bedggood is humble about his life-saving actions Sunday evening, when he pulled his friend from a burning tent fire as propane tanks exploded in an encampment in Sudbury. Five years after toddler's brutal death, Northern Ont. family struggles to find peace, justice A North Bay family is struggling to find peace and justice as the five-year anniversary of the brutal death of toddler Oliver McCarthy approaches. Windsor Windsor, mayor name-dropped for housing criticism The City of Windsor and its mayor have been picked out as egregious examples of municipal housing missteps by a prominent expert in the field and author of a recent report identifying poor building performance in Ontario. Survey raises concerns about cannabis-impaired driving in Ontario A recent survey conducted by CAA South Central Ontario (CAA SCO) highlights an increase in cannabis use among Ontario drivers, sparking some concern about impaired driving. Could a co-pay model save the IB and RISE programs? Windsor-Essex parents are proposing a co-pay model to keep the International Baccalaureate (IB) program running in the Greater Essex County District School Board (GECDSB), but the board’s chair says it’s not feasible. London Witness sees accused with gun at bush bash shooting scene A witness for the bush party shooting trial says he saw the accused with a firearm that night. 'A real gamut': LHSC highlights number of serious seasonal injuries ahead of the holiday season As we head into the heart of the holiday season, experts at London Health Sciences Centre (LHSC) are cautioning the public in order to help prevent serious injuries. Tire shops 'spinning' with winter tire changeover demand London tire and automotive shops remain caught off guard by the sudden arrival of winter. Kitchener Why Wilmot is proposing a $580 tax increase in its 2025 draft budget The Township of Wilmot has released its 2025 draft budget which included a one-time capital infrastructure investment. Teddy Bear Toss happening tonight at the Aud Calling all Kitchener Rangers fans! The Teddy Bear Toss returns for tonight's game against the Brantford Bulldogs. Guelph Police looking for missing pregnant woman Guelph Police are asking for help as they search for a missing pregnant woman. Barrie Woman dies in two-vehicle crash on Highway 118 in Haliburton An 87-year-old woman has died following a collision on Highway 118 in Haliburton County on Monday afternoon. Snow-clearing efforts stalled due to tractor-trailers stuck on many roads along Highway 11 Snow-clearing efforts continue on secondary roads that remain closed along Highway 11 on Tuesday. Crown pushes for 6-year sentence for supervisor convicted in fatal crash case Victim impact statements were read in a Barrie courtroom on Tuesday ahead of sentencing for a man convicted of criminal negligence causing the death of a dump truck driver four years ago. Winnipeg Manitoba government promises trade office in U.S. capital to boost economy The Manitoba government is planning to open a trade office in Washington, D.C., in the new year to deal with threatened United States tariffs and promote investment opportunities in provincial sectors such as mining and aerospace. Every Winnipeg driver pulled over during checkstop program must give breath sample: police Every driver pulled over in Winnipeg as part of the police’s annual festive season checkstop program will have to provide a breath sample. Pembina Trails School Division dealing with 'cyber security incident', classes continuing People within the Pembina Trails School Division are being told to watch for any unusual activity as the division is currently dealing with a “cyber security incident.” Calgary Loved ones seek answers as Pine Creek death deemed a homicide Calgary police say the death of a man in the community of Pine Creek last month is being investigated as a homicide. Person found dead in Taradale home with high CO levels: CFD A person was found dead in a Taradale home where emergency crews discovered high levels of carbon monoxide. Calgary man who drove U-Haul over wife sentenced to 15 years A Calgary man who killed his wife in 2020 when he drove over her in a loaded U-Haul has been sentenced to 15 years behind bars. Edmonton Ex-Alberta teacher convicted of sex crime involving child for 2nd time Former Alberta teacher Brian Davison has been found guilty of one count of sexual exploitation in connection with an incident involving a child. Giving Tuesday: As the Canada Post strike and inflation affect charities, here's how Edmontonians can help Across the country, charities are getting ready for the holidays, which is often a busy time for many of them, and are relying on the generosity of Canadians to help get them. Beaumont teen with 'big heart' starts birthday tradition to help others On Saturday, Grace Gibson and Bailey Paxman filled a car with warm blankets, coats, thick socks and snacks and headed to Edmonton. Regina Regulations around foreign ownership of Sask. farmland need better enforcement, auditor finds The Provincial Auditor of Saskatchewan is recommending that the province improve its system of monitoring sales of farmland to foreign entities. Formal expectations needed for answering 911 calls: Sask. auditor reports The Provincial Auditor assessed the Saskatchewan Public Safety Agency’s (SPSA) 911 call taking and dispatching processes for fire emergencies, focusing on the Provincial Emergency Communications Centre. Attempted murder charge laid after home invasion, series of hit and runs in Regina Two people in Regina are facing a list of charges following a series of alleged acts that include a home invasion, multiple collisions and attempted murder. Saskatoon Major power outage hits much of Saskatoon's west side A large power outage lasting several hours affected much of Saskatoon's west side and portions of the east side of the city Tuesday afternoon. 'That's way, way inappropriate': Saskatoon city councillor raises issue with democratic process, clerk apologizes Before Saskatoon city council unanimously approved the budget, a fiery discussion about the democratic process dominated chambers. Man dies at Saskatoon Correctional Centre A 62-year-old man was declared dead at the Saskatoon Correctional Centre on Dec. 2. Vancouver Bad blood? Taylor Swift ticket dispute settled by B.C. tribunal A B.C. woman and her daughter will be attending one of Taylor Swift's Eras Tour shows in Vancouver – but only after a tribunal intervened and settled a dispute among friends over tickets. Vancouver Canucks defenceman Hronek out 8 weeks with lower-body injury Vancouver Canucks defenceman Filip Hronek is expected to be out until the end of January as he recovers from a lower-body injury. BC SPCA to rescue up to 30 stray cats from one Kamloops home The BC SPCA is warning of the consequences of feeding stray cats after a person accidentally lured over 25 felines to their home in Kamloops, B.C. Vancouver Island Bad blood? Taylor Swift ticket dispute settled by B.C. tribunal A B.C. woman and her daughter will be attending one of Taylor Swift's Eras Tour shows in Vancouver – but only after a tribunal intervened and settled a dispute among friends over tickets. Comox Valley RCMP seek suspect who tried to climb woman's deck wearing a gas mask Mounties on Vancouver Island are seeking witnesses after a woman reported that a man wearing a gas mask tried to climb onto the deck of her home near Courtenay, B.C. Canadian military drones enter production, though Arctic modifications will be required Canada's first combat drones have now entered production, though the remotely piloted aircraft will require years of testing and significant modifications before the first units are delivered in 2028. Kelowna Study of 2023 Okanagan wildfires recommends limiting development in high-risk areas A study into the devastating wildfires that struck British Columbia's Okanagan region in 2023 has recommended that government and industry limit development in high-fire-risk areas. Kelowna, B.C., to host the Memorial Cup in the spring of 2026 The Western Hockey League's Kelowna Rockets will host the Memorial Cup in the spring of 2026, the Canadian Hockey League said Wednesday. 545 vehicles impounded in 332 days: BC Highway Patrol pleads for drivers to slow down Mounties with the BC Highway Patrol in Kelowna say they've impounded more than 545 vehicles for excessive speed and aggressive driving so far this year. That works out to more than 1.6 per day. Stay Connected

National Grid Electricity Distribution (NGED) will inspect Newport homes and businesses this week. The visits are part of a safety inspection programme to check service termination points, also known as cut-outs, are working properly. These points are where the main incoming electricity service cable and fuse are located, usually near the electricity meter. The inspections will be visual only, with no disassembly or power supply interruptions. NGED plans to carry out 400,000 such inspections annually across South Wales, the Midlands, and the South West over the next 20 years. Richard Brady, NGED’s policy engineer heading the inspection programme, said: "The UK is recognised internationally as having one of the most resilient and safe energy systems and this inspection programme underlines our commitment to the highest safety standards. "Inspectors will visually examine cut-outs to check they are working as they should, taking photos and notes for our records. "In the unlikely event of a defective cut-out being found, NGED engineers will be sent to carry out repairs at no cost to the customer." The visits will also help confirm what types of low-carbon technologies, such as electric vehicle chargers and solar panels, are connected to the network. This information will aid future planning for load growth on the network. Mr Brady added: "These are important safety visits but we understand they could be inconvenient for customers and apologise in advance if this is the case." The inspectors, from a company called Calisen, will be clearly identifiable as working for NGED and will have ID and authorisation to enter properties.

An online debate over foreign workers in tech shows tensions in Trump's political coalitionJudge rejects request to sideline SJSU volleyball player

Ghaus Bahauddin Zakariya stop restored at Jang Shahi Railway StationPDWP approves uplift projects for KP Ikramullah Khan, Additional Chief Secretary of the Planning and Development Department chairs the meeting of the Provincial Development Working Party (PDWP) KP on Oct 10, 2024. — PNDKP website PESHAWAR: The Provincial Development Working Party (PDWP) on Friday approved a series of development projects to improve infrastructure, education, health, and social welfare across the Khyber Pakhtunkhwa province. googletag.cmd.push(function() { googletag.display('div-gpt-ad-1700472799616-0'); }); An official handout said the approval was granted at the ninth meeting of the PDWP. Ikramullah Khan, Additional Chief Secretary of the Planning and Development Department, chaired the meeting. The meeting approved the flagship initiative Ehsaas Hunar Programme, a Rs3 billion project designed to provide interest-free loans of up to Rs500,000 to skilled youth for starting businesses. This programme is aimed at benefiting over 35,000 skilled workers across Khyber Pakhtunkhwa to boost employment and economic growth.The PDWP also approved a Rs2.9 billion project for the reconstruction and rehabilitation of a 26-kilometre road from Arandu to Kalkatak Lowari in Chitral, which will enhance connectivity and ease transportation in the region. Other significant approvals included the improvement of flood protection structures in Swat and adjacent rivers, rehabilitation of CRBC and Paharpur Canal System in Dera Ismail Khan, and feasibility studies for solar lift irrigation schemes across the province. The forum also approved the Establishment of a Government College of Commerce in Duggar, Buner; the reconstruction of the Agriculture Research Institute (ARI) in Mingora, Swat; upgrading Hayasrai Primary Health Center to a Category-D Hospital in Lower Dir; and the construction of a Thalassemia Department at District Headquarters Hospital, Batkhela. The meeting also approved the construction and rehabilitation of roads in South Waziristan, Tank, Batkhela, and Upper Chitral; the purchase of land for cemeteries; and the construction of model religious schools and computer labs in registered religious schools. The PDWP also approved projects to enhance governance and research capacity, including the establishment of a Chief Minister’s Policy Office, a Sector Reforms Unit in the Public Health Engineering Department, and a Monitoring and Evaluation System for development projects.

Guardiola denies rift with De Bruyne during Man City's dramatic slump

No. 14 ASU, No. 17 Iowa State front-runners for possibly wild Big 12 finish

The Green Bay Packers were able to take care of business in Week 12 NFL action, defeating the San Francisco 49ers by a final score of 38-10. Josh Jacobs was a huge part of the dominant performance that the Packers put together. When everything was said and done, Jacobs ended up carrying the football 26 times for 106 yards and three touchdowns. Every single time the Packers needed him to make a play, he came through for them. After all of the questions surrounding the decision to move on from Aaron Jones to bring in Jacobs, the former Las Vegas Raiders’ star running back has completely shut down all of the critics. Throughout his first 11 games with Green Bay, Jacobs has carried the football 202 times for 944 yards and seven touchdowns. He has also caught 23 passes for 186 yards and a score. At just 26 years old, the future is incredibly bright for Jacobs with the Green Bay Packers. Green Bay Packers RB Josh Jacob Delivers Bold Message After Beating 49ers Following the Packers’ big win over the 49ers, Jacobs spoke out with a very bold message. It’s clear just how much he loves being in Green Bay and playing for the franchise. “The Packers believed in me. They took a chance on me. So every day I come in and try to pour everything I have into this team.” Jacobs has been putting in the work and it has shown on the field. He clearly wants to win and he’s enjoying and cherishing each and every moment that he is having this season. Imagine coming from a dysfunctional franchise like the Raiders and joining the Green Bay Packers. He’s winning at a high level so far this season for the first time and appears likely to be headed to the playoffs. Not only has he been enjoying the success, he has been one of the biggest reasons for it. All of that being said, Jacobs has quickly endeared himself to the Green Bay fan base. Losing Jones was a sad moment, but Jacobs has more than made up for that sadness. Hopefully, he’ll continue to produce at the level that he has shown so far this season. If he keeps doing what he’s doing throughout the rest of the season, the Packers will have a chance to make some noise in the postseason. This article first appeared on WI Sports Heroics and was syndicated with permission.WALNUT CREEK, Calif.--(BUSINESS WIRE)--Nov 25, 2024-- Central Garden & Pet Company (NASDAQ: CENT) (NASDAQ: CENTA) ("Central"), a market leader in the pet and garden industries, today announced results for its fourth quarter and fiscal year ended September 28, 2024. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20241125974807/en/ "We have a lot to be proud of this year. We increased non-GAAP EPS, continued margin expansion, made significant progress on our Cost and Simplicity program, and achieved strong profits in our Pet segment and record cash flow for the company. We accomplished this despite continued soft demand across our Pet segment, in particular in durable pet products, and a difficult garden season," said Niko Lahanas, Central Garden & Pet's new CEO. "While we expect the external environment to remain challenging, I am confident we have the right strategy and people in place to deliver profitable growth in fiscal 2025 and for the long term." Fiscal 2024 Results Net sales were $3.2 billion compared to $3.3 billion in the prior year, a decrease of 3%. Fiscal 2023 benefited from an additional week in the fourth quarter. Organic net sales decreased 4% excluding the impact of the acquisition of TDBBS in fiscal 2024 and the sale of the independent garden channel distribution business in fiscal 2023. Net sales for the Pet segment were $1.83 billion compared to $1.88 billion a year ago, a decrease of 2%. Pet organic net sales decreased 6%. Net sales for the Garden segment were $1.37 billion compared to $1.43 billion in the prior year, a decrease of 5%. Garden organic net sales decreased 1%. Gross margin expanded by 90 basis points to 29.5% from 28.6% in the prior year. On a non-GAAP basis, gross margin expanded by 110 basis points to 30.0% from 28.9% a year ago driven by productivity efforts and moderating inflation. Operating income was $185 million compared to $211 million in the prior year, a decrease of 12%. On a non-GAAP basis, operating income was $223 million compared to $227 million a year ago. Operating margin was 5.8% compared to 6.4% in the prior year. On a non-GAAP basis, operating margin expanded to 7.0% from 6.9% a year ago due to improved gross margin and continued cost discipline in selling, general and administrative expense. Net interest expense was $38 million compared to $50 million in the prior year driven by higher interest income. Other expense was $5.1 million compared to other income of $1.5 million a year ago due to the impairment of two underperforming equity investments in the fourth quarter. Net income was $108 million compared to $126 million in the prior year. On a non-GAAP basis, net income increased to $142 million from $138 million a year ago. Earnings per share were $1.62 compared to $1.88 in the prior year. On a non-GAAP basis, earnings per share increased to $2.13 from $2.07 a year ago. Adjusted EBITDA was $334 million compared to $343 million in the prior year. The effective tax rate for the fiscal year was 23.2% compared to 22.4% a year ago primarily due to an increase in the blended state income tax rate in the current year compared to the prior year. Fourth Quarter Fiscal 2024 Results Net sales were $669 million compared to $750 million a year ago, a decrease of 11%. The prior year quarter benefited from an extra week. Organic net sales decreased 13% excluding the impact of the acquisition of TDBBS and the sale of the independent garden channel distribution business. Gross margin contracted by 110 basis points to 25.2% compared to 26.3% a year ago primarily driven by the impairment of grass seed inventory more than offsetting moderating inflation and productivity efforts. On a non-GAAP basis, gross margin contracted by 60 basis points to 26.0% from 26.6% in the prior year. Operating loss was $32 million compared to operating income of $9 million a year ago. On a non-GAAP basis, operating loss was $11 million compared to operating income of $12 million reflecting lower volumes, the inventory impairment, and the timing of expenses related to productivity and commercial initiatives. Operating margin was (4.8)% compared to 1.2% in the prior year. On a non-GAAP basis, operating margin contracted to (1.7)% from 1.6% a year ago. Other expense was $6 million compared to $2 million in the prior year. Net interest expense was $6 million compared to $8 million a year ago. Net loss was $34 million compared to net income of $3 million in the prior year. On a non-GAAP basis, net loss was $12 million compared to net income $5 million a year ago. Loss per share was $0.51 compared to earnings per share of $0.04 in the prior year. On a non-GAAP basis, loss per share was $0.18 compared to earnings per share of $0.08 a year ago. Adjusted EBITDA was $17 million compared to $42 million in the prior year. Pet Segment Fourth Quarter Fiscal 2024 Results Net sales for the Pet segment were $435 million compared to $483 million in the prior year, a decrease of 10%. The decrease was primarily due to an extra week in the prior year quarter. Organic net sales decreased 14% excluding the impact of the acquisition of TDBBS. The Pet segment’s operating income was $14 million compared to $43 million a year ago. On a non-GAAP basis, operating income was $35 million compared to $48 million in the prior year due to lower volume and the timing of expenses related to productivity and commercial initiatives. Operating margin was 3.3% compared to 9.0% in the prior year. On a non-GAAP basis, operating margin was 8.0% compared to 9.9% a year ago. Pet segment adjusted EBITDA was $45 million compared to $58 million in the prior year quarter. Garden Segment Fourth Quarter Fiscal 2024 Results Net sales for the Garden segment were $234 million compared to $267 million a year ago, a decrease of 12%. The decrease was primarily due to an extra week in the prior year quarter. Organic net sales decreased 11% excluding the impact of the sale of the independent garden channel distribution business. The Garden segment’s operating loss was $29 million compared to a loss of $3 million in the prior year. On a non-GAAP basis, operating loss was $25 million compared to a loss of $5 million a year ago due to lower volume as well as the impairment of grass seed inventory. Operating margin was (12.3)% compared to (1.3)% in the prior year. On a non-GAAP basis, operating margin was (10.6)% compared to (2.0)% a year ago. Garden segment adjusted EBITDA was $(14) million compared to $6 million in the prior year. Liquidity and Debt At September 28, 2024, cash and cash equivalents was $754 million, compared to $489 million a year ago. The increase in cash and cash equivalents was driven by converting inventory to cash over the last 12 months and lower capital expenditures. Cash provided by operations for fiscal 2024 was $395 million, compared to $382 million in the prior year. The increase in cash provided by operations was primarily due to changes in working capital driven by the reduction in inventory. Total debt at September 28, 2024 and September 30, 2023 was $1.2 billion. The gross leverage ratio, calculated using the definitions for Indebtedness and EBITDA in Central's credit agreement, at the end of the quarter was 3.1x, in line with the prior year. Central repurchased 270,032 shares or $9 million of its stock during the quarter. Subsequent to the fiscal year end, Central purchased an additional 1,663,479 shares or $52 million of its stock through November 21, 2024. Non-GAAP Adjustments Fiscal 2024 Central recognized $45 million in non-GAAP charges in fiscal 2024, $28 million of which related to Cost & Simplicity initiatives. Within the Garden segment, this included closure and consolidation of one manufacturing facility, six distribution facilities and one research facility as well as beginning the wind-down of Central's pottery business. Within the Pet segment, this included the announced closure and consolidation of two manufacturing facilities related to a durable pet supply business as well as impairment of intangible assets related to this business due to changing market conditions and increased international competition. In addition to Cost & Simplicity related charges, Central recognized $4 million in charges related to the impairment of equity investments in two underperforming private businesses, partially offset by a gain on the settlement of a litigation. The $45 million overall charge was mostly noncash, with $16 million included in cost of goods sold, $21 million in selling, general and administrative expense, and $8 million in other expense. Fourth Quarter Fiscal 2024 Non-GAAP charges for the fourth quarter were $29 million, $12 million of which related to Cost & Simplicity initiatives, $13 million related to intangible impairments, and $4 million related to the equity investment write downs and partially offsetting a gain on the settlement of a litigation. The $29 million overall charge was mostly noncash, with $5 million included in cost of goods sold, $16 million in selling, general and administrative expense, and $8 million in other expense. Outlook for Fiscal 2025 Central currently expects fiscal 2025 non-GAAP EPS to be $2.20 or better. This outlook takes into consideration deflationary pressure in certain commodity businesses, evolving consumer behavior in an environment of macroeconomic and geopolitical uncertainty, and the challenging brick-and-mortar retail environment. Central expects fiscal 2025 capital spending to be in the range of $60-70 million. This outlook excludes the impact of any acquisitions, divestitures or restructuring activities that may occur during fiscal 2025, including projects under the Cost and Simplicity program. Conference Call Central will hold a conference call today at 4:30 p.m. Eastern Time (1:30 p.m. Pacific Time), hosted by Niko Lahanas, CEO, and Brad Smith, CFO, to discuss these results and to provide a general business update. The conference call and related materials can be accessed at http://ir.central.com . Alternatively, to listen to the call by telephone, dial (201) 689-8345 (domestic and international) using confirmation #13748436. About Central Garden & Pet Central Garden & Pet Company (NASDAQ: CENT) (NASDAQ: CENTA) understands home is central to life and has proudly nurtured happy and healthy homes for over 40 years. With fiscal 2024 net sales of $3.2 billion, Central is on a mission to lead the future of the pet and garden industries. The Company’s innovative and trusted products are dedicated to helping lawns grow greener, gardens bloom bigger, pets live healthier, and communities grow stronger. Central is home to a leading portfolio of more than 65 high-quality brands including Amdro ®, Aqueon ®, Cadet ®, C&S ®, Farnam ®, Ferry-Morse ®, Four Paws ®, Kaytee ®, Nylabone ® and Pennington ®, strong manufacturing and distribution capabilities, and a passionate, entrepreneurial growth culture. Central is based in Walnut Creek, California, with 6,450 employees primarily across North America. Visit www.central.com to learn more. Safe Harbor Statement “Safe Harbor” Statement under the Private Securities Litigation Reform Act of 1995: The statements contained in this release which are not historical facts, including statements concerning evolving consumer demand and unfavorable retailer dynamics, productivity initiatives and estimated capital spending, and earnings guidance for fiscal 2025, are forward-looking statements that are subject to risks and uncertainties that could cause actual results to differ materially from those set forth in or implied by forward-looking statements. All forward-looking statements are based upon Central's current expectations and various assumptions. There are a number of risks and uncertainties that could cause actual results to differ materially from the forward-looking statements contained in this release including, but not limited to, the following factors: These risks and others are described in Central’s Securities and Exchange Commission filings. Central undertakes no obligation to publicly update these forward-looking statements to reflect new information, subsequent events or otherwise. CENTRAL GARDEN & PET COMPANY CONDENSED CONSOLIDATED BALANCE SHEETS (in thousands) (unaudited) ASSETS September 28, 2024 September 30, 2023 Current assets: Cash and cash equivalents $ 753,550 $ 488,730 Restricted cash 14,853 14,143 Accounts receivable, net 326,220 332,890 Inventories, net 757,943 838,188 Prepaid expenses and other 34,240 33,172 Total current assets 1,886,806 1,707,123 Plant, property and equipment, net 379,166 391,768 Goodwill 551,361 546,436 Other intangible assets, net 473,280 497,228 Operating lease right-of-use assets 205,137 173,540 Other assets 57,689 62,553 Total $ 3,553,439 $ 3,378,648 LIABILITIES AND EQUITY Current liabilities: Accounts payable $ 212,606 $ 190,902 Accrued expenses 245,226 216,241 Current lease liabilities 57,313 50,597 Current portion of long-term debt 239 247 Total current liabilities 515,384 457,987 Long-term debt 1,189,809 1,187,956 Long-term lease liabilities 173,086 135,621 Deferred income taxes and other long-term obligations 117,615 144,271 Equity: Common stock ($.01 par value; 80 million shares authorized; 11,074,620 and 11,077,612 issued, respectively) 111 111 Class A common stock ($.01 par value; 100 million shares authorized; 54,446,194 and 54,472,902 issued, respectively) 544 544 Class B stock ($.01 par value; 3 million shares authorized; 1,602,374 and 1,602,374 issued, respectively) 16 16 Additional paid-in capital 598,098 594,282 Retained earnings 959,511 859,370 Accumulated other comprehensive loss (2,626 ) (2,970 ) Total Central Garden & Pet shareholders’ equity 1,555,654 1,451,353 Noncontrolling interest 1,891 1,460 Total equity 1,557,545 1,452,813 Total $ 3,553,439 $ 3,378,648 CENTRAL GARDEN & PET COMPANY CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (in thousands, except per share amounts) (unaudited) Three Months Ended Fiscal Year Ended September 28, 2024 September 30, 2023 September 28, 2024 September 30, 2023 Net sales $ 669,489 $ 750,147 $ 3,200,460 $ 3,310,083 Cost of goods sold 500,537 552,694 2,256,725 2,363,241 Gross profit 168,952 197,453 943,735 946,842 Selling, general and administrative expenses 201,360 188,084 758,348 736,196 Operating (loss) income (32,408 ) 9,369 185,387 210,646 Interest expense (14,115 ) (13,138 ) (57,527 ) (57,025 ) Interest income 7,639 5,075 19,655 7,362 Other income (expense), net (6,137 ) (1,685 ) (5,090 ) 1,462 Income (loss) before income taxes and noncontrolling interest (45,021 ) (379 ) 142,425 162,445 Income tax (benefit) expense (10,621 ) (3,098 ) 33,112 36,348 Net income (loss) including noncontrolling interest (34,400 ) 2,719 109,313 126,097 Net income (loss) attributable to noncontrolling interest (242 ) (116 ) 1,330 454 Net income (loss) attributable to Central Garden & Pet Company $ (34,158 ) $ 2,835 $ 107,983 $ 125,643 Net income (loss) per share attributable to Central Garden & Pet Company: Basic $ (0.52 ) $ 0.04 $ 1.64 $ 1.92 Diluted $ (0.51 ) $ 0.04 $ 1.62 $ 1.88 Weighted average shares used in the computation of net income per share: Basic 65,939 65,265 65,711 65,493 Diluted 66,917 66,671 66,860 66,783 CENTRAL GARDEN & PET COMPANY CONSOLIDATED STATEMENTS OF CASH FLOWS Fiscal Year Ended September 28, 2024 September 30, 2023 September 24, 2022 (in thousands) Cash flows from operating activities: Net income $ 109,313 $ 126,097 $ 152,672 Adjustments to reconcile net income to net cash provided by operating activities: Depreciation and amortization 90,807 87,700 80,948 Amortization of deferred financing costs 2,687 2,698 2,657 Non-cash lease expense 56,180 51,868 48,656 Stock-based compensation 20,583 27,990 25,817 Debt extinguishment costs — — 169 Gain on sale of business — (5,845 ) — Deferred income taxes (14,482 ) (12,253 ) 28,128 Facility closures and business exit costs 27,842 15,674 — Impairment of intangibles 12,790 — — Other asset impairments 7,462 750 — Other 906 (525 ) (648 ) Changes in assets and liabilities (excluding businesses acquired): Receivables 11,857 43,980 7,004 Inventories 86,980 (256,443 ) Prepaid expenses and other assets 11,944 8,813 (6,031 ) Accounts payable 18,373 (19,962 ) (31,209 ) Accrued expenses 6,766 (33,495 ) Other long-term obligations (12,631 ) 9,595 (7,728 ) Operating lease liabilities (50,197 ) (48,692 ) (44,527 ) Net cash provided by (used in) operating activities 394,892 381,634 (34,030 ) Cash flows from investing activities: Additions to property, plant and equipment (43,135 ) (53,966 ) (115,205 ) Business acquired, net of cash acquired (60,226 ) — — Proceeds from sale of business — 20,000 — Payments for investments (1,650 ) (500 ) (27,818 ) Other investing activities (175 ) (115 ) 40 Net cash used in investing activities (105,186 ) (34,581 ) (142,983 ) Cash flows from financing activities: Repayments on revolving line of credit — (48,000 ) — Borrowings on revolving line of credit — 48,000 — Repayments of long-term debt (370 ) (338 ) (1,096 ) Repurchase of common stock, including shares surrendered for tax withholding (24,075 ) (37,161 ) (62,287 ) Payments of contingent consideration (95 ) (54 ) (216 ) Distribution to noncontrolling interest (899 ) — (806 ) Payment of financing costs — — (2,410 ) Net cash used in financing activities (25,438 ) (37,553 ) (66,815 ) Effect of exchange rate changes on cash and equivalents 1,261 1,189 (3,510 ) Net increase (decrease) in cash, cash equivalents and restricted cash 265,530 310,689 (247,338 ) Cash, cash equivalents and restricted cash at beginning of year 502,873 192,184 439,522 Cash, cash equivalents and restricted cash at end of year $ 768,403 $ 502,873 $ 192,184 Supplemental information: Cash paid for interest $ 57,531 $ 57,143 $ 57,928 Cash paid for income taxes – net of refunds 53,582 17,910 34,964 Non-cash investing and financing activities: Capital expenditures incurred but not paid 1,936 2,243 8,016 Liability for contingent performance based payments (20 ) (374 ) (847 ) Shares of common stock repurchased but not settled 536 — 911 Lease liabilities arising from obtaining right-of-use assets 95,391 42,777 70,794 Use of Non-GAAP Financial Measures We report our financial results in accordance with GAAP. However, to supplement the financial results prepared in accordance with GAAP, we use non-GAAP financial measures including non-GAAP net income and diluted net income per share, non-GAAP operating income, non-GAAP gross profit and gross margin, non-GAAP selling, general and administrative expense, adjusted EBITDA and organic net sales. Management uses these non-GAAP financial measures that exclude the impact of specific items (described below) in making financial, operating and planning decisions and in evaluating our performance. Management believes that these non-GAAP financial measures may be useful to investors in their assessment of our ongoing operating performance and provide additional meaningful comparisons between current results and results in prior operating periods. While Management believes that non-GAAP measures are useful supplemental information, such adjusted results are not intended to replace our GAAP financial results and should be read in conjunction with those GAAP results. Adjusted EBITDA is defined by us as income before income tax, net other expense, net interest expense and depreciation and amortization and stock-based compensation expense (or operating income plus depreciation and amortization expense and stock-based compensation expense). Adjusted EBITDA further excludes one-time charges related to facility closures exits of business, intangible and investment impairments and gains from a litigation settlement. We present adjusted EBITDA because we believe that adjusted EBITDA is a useful supplemental measure in evaluating the cash flows and performance of our business and provides greater transparency into our results of operations. Adjusted EBITDA is used by our management to perform such evaluations. Adjusted EBITDA should not be considered in isolation or as a substitute for cash flow from operations, income from operations or other income statement measures prepared in accordance with GAAP. We believe that adjusted EBITDA is frequently used by investors, securities analysts and other interested parties in their evaluation of companies, many of which present adjusted EBITDA when reporting their results. Other companies may calculate adjusted EBITDA differently and it may not be comparable. The reconciliations of these non-GAAP measures to the most directly comparable financial measures calculated and presented in accordance with GAAP are shown in the tables below. We have not provided a reconciliation of non-GAAP guidance measures to the corresponding GAAP measures on a forward-looking basis as we cannot do so without unreasonable efforts due to the potential variability and limited visibility of excluded items. For the same reasons, we are unable to address the probable significance of the unavailable information. Non-GAAP financial measures reflect adjustments based on the following items: From time to time in the future, there may be other items that we may exclude if we believe that doing so is consistent with the goal of providing useful information to investors and management. The non-GAAP adjustments made reflect the following: Facility closures and business exits (1) During the fourth quarter of fiscal year 2024, we recognized incremental expense of $7.5 million in our Pet segment in the consolidated statement of operations, from the closure of manufacturing facilities in California and Arizona. Additionally, we recognized incremental expense in our Garden segment of $3.9 million related to facility closures and business exits announced in fiscal 2023 and earlier in fiscal 2024. (2) During the third quarter of fiscal 2024, we recognized incremental expense of $11.1 million in the consolidated statement of operations, from the decision to exit the pottery business, the closure of a live goods distribution facility in Delaware and the relocation of our grass seed research facility. (3) During the second quarter of fiscal 2024, we recognized incremental expense of $5.3 million in the consolidated statement of operations from the closure of a manufacturing facility in California and the consolidation of our Southeast distribution network. (4) During the fourth quarter of fiscal 2023, we recognized a gain of $5.8 million from the sale of our independent garden center distribution business, which includes the impact of associated facility closure costs. The gain is included in selling, general and administrative expense in the consolidated statement of operations. (5) In fiscal 2023, we recognized incremental expense of $13.9 million in our Pet segment in the consolidated statement of operations from the closure of a manufacturing and distribution facility in Texas. Additionally, we recognized incremental expense of $1.8 million in our Pet segment in the consolidated statement of operations, from the closure of a second manufacturing and distribution facility in Texas. Intangible Impairments (6) During the fourth quarter of fiscal 2024, we recognized a non-cash impairment charge in our Pet segment of $12.8 million related to the impairment of intangible assets due primarily to changing market conditions resulting from the decline in demand for durable products and increased international competition. (7) In fiscal 2023, we recognized a non-cash impairment charge in our Pet segment of $2.8 million related to the impairment of intangible assets caused by the loss of a significant customer in our live fish business. Also, we recognized a non-cash impairment charge in our Garden segment of $3.9 million related to the impairment of intangible assets due to reduced demand for products we sold under an acquired trade name. The impairments were recorded as part of selling, general and administrative costs. Gain from litigation and investment impairment (8) Within corporate, the Company received $3.2 million during the fourth quarter of fiscal 2024 in settlement of litigation which gain is included in selling, general and administrative expense. Additionally, we recognized a $7.5 million non-cash impairment charge for two related private company investments that is included within Other income (expense) in the consolidated statement of operations. Net Income and Diluted Net Income Per Share Reconciliation GAAP to Non-GAAP Reconciliation Three Months Ended Fiscal Year Ended September 28, 2024 September 30, 2023 September 28, 2024 September 30, 2023 (in thousands, except per share amount) GAAP net (loss) income attributable to Central Garden & Pet Company $ (34,158 ) $ 2,835 $ 107,983 $ 125,643 Facility closures (1)(2)(3)(5) 11,457 1,751 27,842 15,672 Intangible impairments (6)(7) 12,790 6,731 12,790 6,731 Litigation settlement (8) (3,200 ) — (3,200 ) — Independent channel distribution business sale (4) — (5,844 ) — (5,844 ) Investment impairment (8) 7,461 — 7,461 — Tax effect of adjustments (6,725 ) (332 ) (10,437 ) (3,705 ) Non-GAAP net (loss) income attributable to Central Garden & Pet Company $ (12,375 ) $ 5,141 $ 142,439 $ 138,497 GAAP diluted net income per share $ (0.51 ) $ 0.04 $ 1.62 $ 1.88 Non-GAAP diluted net income per share $ (0.18 ) $ 0.08 $ 2.13 $ 2.07 Shares used in GAAP and non-GAAP diluted net income per share calculation 66,917 66,671 66,860 66,783 Operating Income Reconciliation GAAP to Non-GAAP Reconciliation Three Months Ended September 28, 2024 Fiscal Year Ended September 28, 2024 GAAP Adjustments (1)(6)(8) Non-GAAP GAAP Adjustments (1)(2)(3)(6)(8) Non-GAAP (in thousands) Net sales $ 669,489 $ — $ 669,489 $ 3,200,460 $ — $ 3,200,460 Cost of goods sold and occupancy 500,537 5,209 495,328 2,256,725 16,349 2,240,376 Gross profit 168,952 (5,209 ) 174,161 943,735 (16,349 ) 960,084 Selling, general and administrative expenses 201,360 15,838 185,522 758,348 21,083 737,265 (Loss) Income from operations $ (32,408 ) $ (21,047 ) $ (11,361 ) $ 185,387 $ (37,432 ) $ 222,819 Gross margin 25.2 % 26.0 % 29.5 % 30.0 % Operating margin (4.8 )% (1.7 )% 5.8 % 7.0 % Operating Income Reconciliation GAAP to Non-GAAP Reconciliation Three Months Ended September 30, 2023 Fiscal Year Ended September 30, 2023 GAAP Adjustments (4)(5)(7) Non-GAAP GAAP Adjustments (4)(5)(7) Non-GAAP (in thousands) Net sales $ 750,147 $ — $ 750,147 $ 3,310,083 $ — $ 3,310,083 Cost of goods sold and occupancy 552,694 1,751 550,943 2,363,241 9,761 2,353,480 Gross profit 197,453 (1,751 ) 199,204 946,842 (9,761 ) 956,603 Selling, general and administrative expenses 188,084 887 187,197 736,196 6,798 729,398 Income from operations $ 9,369 $ (2,638 ) $ 12,007 $ 210,646 $ (16,559 ) $ 227,205 Gross margin 26.3 % 26.6 % 28.6 % 28.9 % Operating margin 1.2 % 1.6 % 6.4 % 6.9 % Pet Segment Operating Income Reconciliation GAAP to Non-GAAP Reconciliation Three Months Ended Fiscal Year Ended September 28, 2024 September 30, 2023 September 28, 2024 September 30, 2023 (in thousands) GAAP operating income $ 14,310 $ 43,225 $ 203,425 $ 198,004 Facility closures (1)(5) 7,549 1,751 7,549 15,672 Intangible impairments (6)(7) 12,790 2,785 12,790 2,785 Non-GAAP operating income $ 34,649 $ 47,761 $ 223,764 $ 216,461 GAAP operating margin 3.3 % 9.0 % 11.1 % 10.5 % Non-GAAP operating margin 8.0 % 9.9 % 12.2 % 11.5 % Garden Segment Operating Income Reconciliation GAAP to Non-GAAP Reconciliation Three Months Ended Fiscal Year Ended September 28, 2024 September 30, 2023 September 28, 2024 September 30, 2023 (in thousands) GAAP operating income $ (28,806 ) $ (3,432 ) $ 81,893 $ 123,455 Facility closures (1)(2)(3) 3,908 — 20,293 — Independent channel distribution business sale (4) — (5,844 ) — (5,844 ) Intangible impairments (7) — 3,946 — 3,946 Non-GAAP operating income (loss) $ (24,898 ) $ (5,330 ) $ 102,186 $ 121,557 GAAP operating margin (12.3 )% (1.3 )% 6.0 % 8.6 % Non-GAAP operating margin (10.6 )% (2.0 )% 7.5 % 8.5 % Organic Net Sales Reconciliation GAAP to Non-GAAP Reconciliation Three Months Ended September 28, 2024 Fiscal Year Ended September 28, 2024 Net sales (GAAP) Effect of acquisitions & divestiture on net sales Net sales organic Net sales (GAAP) Effect of acquisitions & divestitures on net sales Net sales organic (in millions) Reported net sales FY 2024 $ 669.5 $ 18.0 $ 651.5 $ 3,200.5 $ 66.4 $ 3,134.1 Reported net sales FY 2023 750.1 3.7 746.4 3,310.1 48.1 3,262.0 $ decrease $ (80.6 ) $ 14.3 $ (94.9 ) $ (109.6 ) $ 18.3 $ (127.9 ) % decrease (10.7 )% (12.7 )% (3.3 )% (3.9 )% Organic Pet Segment Net Sales Reconciliation GAAP to Non-GAAP Reconciliation Three Months Ended September 28, 2024 Fiscal Year Ended September 28, 2024 Net sales (GAAP) Effect of acquisitions & divestitures on net sales Net sales organic Net sales (GAAP) Effect of acquisitions & divestitures on net sales Net sales organic (in millions) Reported net sales FY 2024 $ 435.3 $ 18.0 $ 417.3 $ 1,832.8 $ 66.4 $ 1,766.4 Reported net sales FY 2023 482.8 — 482.8 1,877.2 — 1,877.2 $ decrease $ (47.5 ) $ 18.0 $ (65.5 ) $ (44.4 ) $ 66.4 $ (110.8 ) % decrease (9.8 )% (13.6 )% (2.4 )% (5.9 )% Organic Garden Segment Net Sales Reconciliation GAAP to Non-GAAP Reconciliation Three Months Ended September 28, 2024 Fiscal Year Ended September 28, 2024 Net sales (GAAP) Effect of acquisitions & divestitures on net sales Net sales organic Net sales (GAAP) Effect of acquisitions & divestitures on net sales Net sales organic (in millions) Reported net sales FY 2024 $ 234.2 $ — $ 234.2 $ 1,367.7 $ — $ 1,367.7 Reported net sales FY 2023 267.3 3.7 263.6 1,432.9 48.1 1,384.8 $ decrease $ (33.1 ) $ (3.7 ) $ (29.4 ) $ (65.2 ) $ (48.1 ) $ (17.1 ) % decrease (12.4 )% (11.2 )% (4.6 )% (1.2 )% Adjusted EBITDA Reconciliation GAAP to Non-GAAP Reconciliation Fiscal Year Ended September 28, 2024 Pet Garden Corp Total (in thousands) Net income attributable to Central Garden & Pet $ — $ — $ — $ 107,983 Interest expense, net — — — 37,872 Other expense — — — 5,090 Income tax expense — — — 33,112 Net income attributable to noncontrolling interest — — — 1,330 Sum of items below operating income — — — 77,404 Income (loss) from operations 203,425 81,893 (99,931 ) 185,387 Depreciation & amortization 43,642 44,403 2,762 90,807 Noncash stock-based compensation — — 20,583 20,583 Non-GAAP adjustments (1)(2)(3)(6)(8) 20,339 20,293 (3,200 ) 37,432 Adjusted EBITDA $ 267,406 $ 146,589 $ (79,786 ) $ 334,209 GAAP to Non-GAAP Reconciliation Fiscal Year Ended September 30, 2023 Pet Garden Corp Total (in thousands) Net income attributable to Central Garden & Pet $ — $ — $ — $ 125,643 Interest expense, net — — — 49,663 Other income — — — (1,462 ) Income tax expense — — — 36,348 Net income attributable to noncontrolling interest — — — 454 Sum of items below operating income — — — 85,003 Income (loss) from operations 198,004 123,455 (110,813 ) 210,646 Depreciation & amortization 41,126 43,375 3,199 87,700 Noncash stock-based compensation — — 27,990 27,990 Non-GAAP adjustments (4)(5)(7) 18,457 (1,898 ) — 16,559 Adjusted EBITDA $ 257,587 $ 164,932 $ (79,624 ) $ 342,895 Adjusted EBITDA Reconciliation GAAP to Non-GAAP Reconciliation Three Months Ended September 28, 2024 Pet Garden Corp Total (in thousands) Net loss attributable to Central Garden & Pet $ — $ — $ — $ (34,158 ) Interest expense, net — — — 6,476 Other expense — — — 6,137 Income tax benefit — — — (10,621 ) Net loss attributable to noncontrolling interest — — — (242 ) Sum of items below operating income — — — 1,750 Income (loss) from operations 14,310 (28,806 ) (17,912 ) (32,408 ) Depreciation & amortization 10,741 11,375 622 22,738 Noncash stock-based compensation — — 5,445 5,445 Non-GAAP adjustments (1)(2)(3)(6)(8) 20,339 3,908 (3,200 ) 21,047 Adjusted EBITDA $ 45,390 $ (13,523 ) $ (15,045 ) $ 16,822 Adjusted EBITDA Reconciliation GAAP to Non-GAAP Reconciliation Three Months Ended September 30, 2023 Pet Garden Corp Total (in thousands) Net income attributable to Central Garden & Pet $ — $ — $ — $ 2,835 Interest expense, net — — — 8,063 Other expense — — — 1,685 Income tax benefit — — — (3,098 ) Net loss attributable to noncontrolling interest — — — (116 ) Sum of items below operating income — — — 6,534 Income (loss) from operations 43,225 (3,432 ) (30,424 ) 9,369 Depreciation & amortization 10,479 10,892 825 22,196 Noncash stock-based compensation — — 7,358 7,358 Non-GAAP adjustments (4)(5)(7) 4,536 (1,898 ) — 2,638 Adjusted EBITDA $ 58,240 $ 5,562 $ (22,241 ) $ 41,561 View source version on businesswire.com : https://www.businesswire.com/news/home/20241125974807/en/ CONTACT: Investor & Media Contact Friederike Edelmann VP of Investor Relations & Corporate Sustainability (925) 412 6726 |fedelmann@central.com KEYWORD: CALIFORNIA UNITED STATES NORTH AMERICA INDUSTRY KEYWORD: RETAIL CONSUMER HOME GOODS SPECIALTY PETS CONSTRUCTION & PROPERTY LANDSCAPE SOURCE: Central Garden & Pet Company Copyright Business Wire 2024. PUB: 11/25/2024 04:03 PM/DISC: 11/25/2024 04:03 PM http://www.businesswire.com/news/home/20241125974807/en

An online debate over foreign workers in tech shows tensions in Trump's political coalition

'Political hijacking': Ranting Trump celebrates dismissal motion of Jack Smith's case

The Dow Jones Industrial Average (DJIA) lurched into the high side on Monday, kicking the new trading week off with a fresh record high just a hair below the 44,800 handle. Investors bid up prices on rumors that the ongoing conflict between Israel and Hezbollah in Lebanon may have a ceasefire deal on the table. Closer to home, investors turned further bullish after pending president-elect Donald Trump tapped Scott Bessent as his future Treasury secretary when he returns to the White House in January. Investors hit the gas pedal on news that former President Donald Trump will pick Scott Bessent as his Treasury secretary. Scott Bessent is the founder of Key Square Group and a former partner at Soros Fund Management, making Bessent an odd choice for an incoming president who has routinely courted corners of the voting public laden with anti-Soros conspiracy theories.Investors hit the gas pedal on news that former President Donald Trump will pick Scott Bessent as his Treasury secretary. Scott Bessent is the founder of Key Square Group and a former partner at Soros Fund Management, making Bessent an odd choice for an incoming president who has routinely courted corners of the voting public laden with anti-Soros conspiracy theories. Despite equity markets rallying hard on the prospect of incoming President Donald Trump tapping a hedge fund manager for a federal oversight position, a notably bullish appointment for the equity field in general, former President Donald Trump’s track record of making dubious staff picks remains unchallenged: the Key Square Group’s fund performance has a notably volatile history. According to reporting from Reuters, institutional investors have fled Key Square Group in recent years, with the macro-focused hedge fund peaking over $5 billion in AUM in late 2017 and tumbling to a 2024 low of barely over $500 million. Despite Key Square Group opening its doors with seed funding from Soros Capital, Soros has reportedly withdrawn all funding from Bennet’s fund and now has no exposure to the investment vehicle. Although US officials dampening expectations and noting that a ceasefire deal hasn't been officially reached, markets are still optimistic that the geopolitical situation in the Middle East might stabilize later . According to an X (née Twitter) post from an AXIOS reporter, A US-proposed truce between Israel and Lebanon that would see Israeli troops withdraw from South Lebanon is set to be voted on, and presumably approved, by both sides in the coming days. Despite an overall uptick in investor sentiment on the prospect of cooling Middle East instability, Crude markets took a hard hit on the news, with West Texas Intermediate (WTI) US Crude Oil backsliding nearly 3% on Monday to $69/barrel. Dow Jones news Despite an early-week bid pin into a new record high, the Dow Jones is settling into a more reasonable stance for Monday, still trading on the high side but easing back from a record high near 44,800. Two-thirds of the major equity index are finding gains on the day, with the remaining third stuck on the red side of the day’s opening line. Nvidia (NVDA) missed out on Monday’s bullish push, falling another 3.3% and backsliding into $137 per share as investors continue to rebalance their sky-high expectations of the chipmaker. Despite reporting annual revenue growth figures north of 90% last week, bidders in the amorphous AI-tech rally expected more, and are balking at the prospect of Nvidia’s future revenue growth easing from 2025’s 112% forecast to a comparatively sluggish 49% in 2026. Dow Jones price forecast The Dow Jones’ Monday bid into a fresh record high near 44,800 has left the blue-chip index back on the high side of a near-term bull run, shrugging off a recent dip into the low well before any bearish technical could form. The Dow Jones is up nearly 19% bottom-to-top in 2024, and up an eye-watering 32% since daily candlesticks last touched the 200-day Exponential Moving Average (EMA) way back in November of 2023 near the 33,800 region. Dow Jones daily chart Risk sentiment FAQs In the world of financial jargon the two widely used terms “risk-on” and “risk off'' refer to the level of risk that investors are willing to stomach during the period referenced. In a “risk-on” market, investors are optimistic about the future and more willing to buy risky assets. In a “risk-off” market investors start to ‘play it safe’ because they are worried about the future, and therefore buy less risky assets that are more certain of bringing a return, even if it is relatively modest. Typically, during periods of “risk-on”, stock markets will rise, most commodities – except Gold – will also gain in value, since they benefit from a positive growth outlook. The currencies of nations that are heavy commodity exporters strengthen because of increased demand, and Cryptocurrencies rise. In a “risk-off” market, Bonds go up – especially major government Bonds – Gold shines, and safe-haven currencies such as the Japanese Yen, Swiss Franc and US Dollar all benefit. The Australian Dollar (AUD), the Canadian Dollar (CAD), the New Zealand Dollar (NZD) and minor FX like the Ruble (RUB) and the South African Rand (ZAR), all tend to rise in markets that are “risk-on”. This is because the economies of these currencies are heavily reliant on commodity exports for growth, and commodities tend to rise in price during risk-on periods. This is because investors foresee greater demand for raw materials in the future due to heightened economic activity. The major currencies that tend to rise during periods of “risk-off” are the US Dollar (USD), the Japanese Yen (JPY) and the Swiss Franc (CHF). The US Dollar, because it is the world’s reserve currency, and because in times of crisis investors buy US government debt, which is seen as safe because the largest economy in the world is unlikely to default. The Yen, from increased demand for Japanese government bonds, because a high proportion are held by domestic investors who are unlikely to dump them – even in a crisis. The Swiss Franc, because strict Swiss banking laws offer investors enhanced capital protection.Share Tweet Share Share Email The U.S. Department of Justice sought a second antitrust victory against Google on Monday, presenting its last defence that the firm unlawfully controlled online advertising technology. TakeAway Points: In an attempt to secure a second antitrust victory against Google, the U.S. Department of Justice presented its last defence on Monday, claiming that the firm unlawfully controlled online advertising technology. Google has argued prosecutors are bending U.S. antitrust law to force it to accommodate competitors’ services and that the case is focused on incidents from years past when Google was still building and improving its offerings Zoom had more profit and revenue than analysts had expected in the October quarter, and executives pushed up the company’s full-year forecast. US antitrust lawsuit against Google comes to an end The closing arguments in Alexandria, Virginia, cap a 15-day trial held in September where prosecutors sought to show Google monopolized markets for publisher ad servers and advertiser ad networks, and tried to dominate the market for ad exchanges which sit between buyers and sellers. “Google rigged the rules of the road,” said DOJ lawyer Aaron Teitelbaum, who asked the judge to hold Google accountable for anticompetitive conduct. Google has argued prosecutors are bending U.S. antitrust law to force it to accommodate competitors’ services, and that the case is focused on incidents from years past when Google was still building and improving its offerings. Publishers testified at trial that they could not switch away from Google, even when it rolled out features they disliked, since there was no other way to access the huge advertising demand within Google’s ad network. News Corp. in 2017 estimated losing at least $9 million in ad revenue that year if it had switched away, one witness said. If U.S. District Judge Leonie Brinkema finds that Google broke the law, she would consider prosecutors’ request to make Google at least sell off Google Ad Manager, a platform that includes the company’s publisher ad server and its ad exchange. Google offered to sell the ad exchange this year to end an EU antitrust investigation but European publishers rejected the proposal as insufficient, as reported in September. Analysts view the ad tech case as a smaller financial risk than the case where a judge ruled Google maintains an illegal monopoly in online search and where prosecutors have argued the company must be forced to sell its Chrome browser. Zoom surpasses expectations and calls for another quarter of single-digit growth Zoom shares were down 4% in extended trading on Monday after the video calling software maker announced strong fiscal third-quarter results and gave quarterly guidance that was just slightly above expectations. According to LSEG consensus, Earnings per share : $1.38 adjusted vs. $1.31 expected, while revenue: $1.18 billion vs. $1.16 billion expected Zoom’s revenue grew about 4% year over year in the quarter, which ended on Oct. 31, according to a statement . Zoom has increased revenue in the single digits for two and a half years, a sharp departure from 2020 and 2021, when the COVID-19 pandemic led the business to triple in size. Net income, at $207.1 million, or 66 cents per share, was up from $141.2 million, or 45 cents per share, in the same quarter a year earlier. The company reported 192,400 enterprise customers in the quarter, up 800 customers from the previous quarter. With respect to guidance, Zoom called for $1.29 to $1.30 in fiscal fourth-quarter adjusted earnings per share on $1.175 billion to $1.180 billion in revenue. Analysts surveyed by LSEG were expecting $1.29 per share and $1.17 billion in revenue. Expectations for next year Zoom bumped up its view for the 2025 fiscal year. It expects $5.41 to $5.43 in adjusted earnings per share, with $4.656 billion to $4.661 billion in revenue. The middle of the revenue range implies about 3% growth. LSEG’s consensus was $5.35 per share on revenue of $4.64 billion. In August, Zoom said it was looking for $5.29 to $5.32 per share and revenue between $4.63 billion and $4.64 billion. During the quarter, Zoom said in the first half of 2025 it will release a premium custom AI companion that could connect to corporate glossaries and services such as ServiceNow and Workday. Zoom also started offering single-use webinar options, with room for up to one million attendees. As of Monday’s close, Zoom stock was up about 24% this year, while the S&P 500 index had gained 25%. The company also said its corporate name is changing from Zoom Video Communications to Zoom Communications Inc. “This change reflects our evolution into an AI-first work platform for human connection and our vision for long-term growth,” Zoom’s founder and CEO Eric Yuan said on a conference call with analysts. Related Items: Antitrust trial , Google , Online Ad , zoom Share Tweet Share Share Email Recommended for you Apple And Google May Face Competition Investigation In UK DOJ Demands That Google Discontinue The Chrome Browser DuckDuckGo Calls Google For Additional Investigation Into Tech Rule Compliance Comments