Central Garden & Pet Company CENT is set to report third-quarter fiscal 2022 results on Aug 3, after the market closes. The Zacks Consensus Estimate for revenues is pegged at $993.4 million, indicating a decline of 4.2% from the prior-year reported figure.The bottom line of this producer and distributor of various products for the lawn and garden, and pet supplies markets is expected to decrease year over year. The Zacks Consensus Estimate for earnings per share for the quarter under discussion has been stable at $1.26 in the past 30 days. The figure suggests a decline of 8% from the year-ago period.We expect revenues to be down 5.5% year over year to $980 million and the bottom line to decline 6.9% to $1.27 per share.Central Garden & Pet Company has a trailing four-quarter earnings surprise of 406%, on average. In the last reported quarter, this Walnut Creek, CA-based company surpassed the Zacks Consensus Estimate by a margin of 7.6%.Key Factors to NoteA challenging operating environment and softness in the Garden portfolio have been making things tough for Central Garden & Pet Company. Persistent inflation in commodities, labor and freight, coupled with geopolitical tensions, has been impacting the business. In a recent release on Jun 22, 2022, management cited unfavorable weather conditions, lower foot traffic and changing inventory expectations from customers behind sluggishness in the Garden segment.The Zacks Consensus Estimate for third-quarter sales at the Garden segment is pegged at $464 million, indicating a decline of 12.3% year over year. However, the consensus estimates for sales at the Pet segment suggest an increase of 4.4% to $530 million from the year-ago period.Our estimate showcases a decline of 14.5% to $452.4 million in the Garden segment but an increase of 3.9% to $527.6 million in the Pet segment for the quarter under discussion.On its last earnings conference call, management highlighted that inflation has impacted all areas of business operations, from commodities to packaging, labor rates, fuel costs, international ocean freight, and more. These are likely to have weighed on margin in the quarter-to-be reported.Despite the aforementioned headwinds, we believe that the company’s Central to Home strategy, as well as strategic investments in digital marketing, customer insights and brand building, might have provided some cushion. The company has been expanding its manufacturing capacity as well.Central Garden & Pet Company Price, Consensus and EPS Surprise Central Garden & Pet Company price-consensus-eps-surprise-chart | Central Garden & Pet Company QuoteWhat the Zacks Model UnveilsOur proven model does not conclusively predict an earnings beat for Central Garden & Pet Company this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat. But that’s not the case here. You can see the complete list of today’s Zacks #1 Rank stocks here.Central Garden & Pet Company has an Earnings ESP of +0.59% but a Zacks Rank #4 (Sell). You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.Stocks With Favorable CombinationHere are companies you may want to consider as our model shows that these have the right combination of elements to post an earnings beat:Grocery Outlet GO currently has an Earnings ESP of +5.62% and a Zacks Rank #1. The company is likely to register bottom-line improvement when it reports second-quarter 2022 numbers. The Zacks Consensus Estimate for quarterly earnings per share of 24 cents suggests a marginal improvement from 23 cents reported in the year-ago quarter.Grocery Outlet's top line is expected to rise year over year. The Zacks Consensus Estimate for quarterly revenues is pegged at $859.6 million, which indicates an improvement of 10.8% from the figure reported in the prior-year quarter. GO has a trailing four-quarter earnings surprise of 4.8%, on average.Performance Food Group Company PFGC currently has an Earnings ESP of +2.09% and a Zacks Rank #3. The company is expected to register bottom-line growth when it reports fourth-quarter fiscal 2022 results. The Zacks Consensus Estimate for quarterly earnings per share of $1.04 suggests an increase from 56 cents reported in the year-ago quarter.Performance Food Group Company's top line is anticipated to rise year over year. The consensus mark for revenues is pegged at $14.53 billion, indicating an increase of 56.2% from the figure reported in the year-ago quarter. PFGC has a trailing four-quarter earnings surprise of 9.5%, on average.Ollie's Bargain OLLI currently has an Earnings ESP of +6.06% and a Zacks Rank #3. The company is expected to register a bottom-line decline when it reports second-quarter fiscal 2022 results. The Zacks Consensus Estimate for quarterly earnings per share of 33 cents suggests a decline from 52 cents reported in the year-ago quarter.Ollie's Bargain’s top line is anticipated to rise year over year. The consensus mark for revenues is pegged at $457.5 million, indicating an increase of 10% from the figure reported in the year-ago quarter.Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar. Just Released: Zacks Top 10 Stocks for 2022 In addition to the investment ideas discussed above, would you like to know about our 10 top picks for the entirety of 2022? From inception in 2012 through 2021, the Zacks Top 10 Stocks portfolios gained an impressive +1,001.2% versus the S&P 500’s +348.7%. Now our Director of Research has combed through 4,000 companies covered by the Zacks Rank and has handpicked the best 10 tickers to buy and hold. Don’t miss your chance to get in…because the sooner you do, the more upside you stand to grab.See Stocks Now >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Central Garden & Pet Company (CENT): Free Stock Analysis Report Ollie's Bargain Outlet Holdings, Inc. (OLLI): Free Stock Analysis Report Grocery Outlet Holding Corp. (GO): Free Stock Analysis Report Performance Food Group Company (PFGC): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research