• Live Feeds
    • Press Releases
    • Insider Trading
    • FDA Approvals
    • Analyst Ratings
    • Insider Trading
    • SEC filings
    • Market insights
  • Analyst Ratings
  • Alerts
  • Subscriptions
  • AI Executive AssistantNEW
  • Settings
  • RSS Feeds
Quantisnow Logo
  • Live Feeds
    • Press Releases
    • Insider Trading
    • FDA Approvals
    • Analyst Ratings
    • Insider Trading
    • SEC filings
    • Market insights
  • Analyst Ratings
  • Alerts
  • Subscriptions
  • AI Executive AssistantNEW
  • Settings
  • RSS Feeds
PublishGo to AppAI Helper
    Quantisnow Logo

    © 2025 quantisnow.com
    Democratizing insights since 2022

    Services
    Live news feedsRSS FeedsAlertsPublish with Us
    Company
    AboutQuantisnow PlusContactJobsAI employees for your businessNEW
    Legal
    Terms of usePrivacy policyCookie policy

    Patterson Companies Reports Fiscal 2024 Fourth Quarter and Year End Operating Results

    6/18/24 7:00:00 AM ET
    $PDCO
    Medical Specialities
    Health Care
    Get the next $PDCO alert in real time by email
    • Fourth quarter reported net sales increased 0.1 percent year-over-year to $1.72 billion, and internal sales decreased 0.5 percent.
    • Fourth quarter internal sales benefitted from strong growth in production animal as well as dental consumables growth of 3.7 percent year-over-year.
    • Returned $327.9 million to shareholders in fiscal 2024 through dividends and share repurchases.
    • Delivered fourth quarter GAAP earnings of $0.74 per diluted share and adjusted earnings1 of $0.82 per diluted share; both GAAP and adjusted earnings1 were negatively impacted by $0.04 per diluted share due to the cybersecurity attack on Change Healthcare.
    • Achieved fiscal 2024 GAAP earnings of $1.98 per diluted share and adjusted earnings of $2.30 per diluted share.
    • Issues fiscal 2025 GAAP earnings guidance of $2.00 to $2.10 per diluted share and adjusted earnings1 guidance of $2.33 to $2.43 per diluted share.

    Patterson Companies, Inc. (NASDAQ:PDCO) today reported operating results for its fiscal 2024 fourth quarter ended April 27, 2024.

    "Throughout fiscal 2024, Patterson navigated a challenging market environment while continuing to make progress on our strategic objectives to better position the organization for the future," said Don Zurbay, President and CEO of Patterson Companies. "Our fourth quarter results were driven by strong performances in our dental consumables and production animal businesses, reflecting the strength of Patterson's value proposition across our resilient end markets and our sustained focus on serving as indispensable partners to our customers. Our outlook reflects the continued confidence in our strategy focused on investing to drive enhanced growth and profitability over the long term combined with the current conditions in our end markets."

    Fourth Quarter Fiscal 2024 Results

    Consolidated net sales were $1.72 billion (see attached Sales Summary for further details), an increase of 0.1 percent compared to the same period last year. Internal sales, which are adjusted for the effects of currency translation and the net impact of an interest rate swap, decreased 0.5 percent over the prior year period.

    Reported net income attributable to Patterson Companies, Inc. for the fourth quarter of fiscal 2024 was $67.0 million, or $0.74 per diluted share, compared to $75.0 million, or $0.77 per diluted share, in the fourth quarter of fiscal 2023. Adjusted net income1 attributable to Patterson Companies, Inc., which excludes deal amortization, totaled $74.4 million for the fourth quarter of fiscal 2024, or $0.82 per diluted share, compared to $82.4 million, or $0.84 per diluted share, in the fourth quarter of fiscal 2023. The year-over-year decrease in reported and adjusted net income attributable to Patterson Companies, Inc. in the fourth quarter of fiscal 2024 is primarily due to lower sales of equipment and the negative impact of the widely reported cybersecurity attack on vendor partner, Change Healthcare, within the value-added services category of the dental segment. Both reported and adjusted net income in the fiscal 2024 fourth quarter were negatively impacted by $0.04 per diluted share due to the cybersecurity attack on Change Healthcare.

    Patterson Dental

    Reported net sales in the Dental segment for the fourth quarter of fiscal 2024 were $657.8 million. Internal sales decreased 3.8 percent compared to the fiscal 2023 fourth quarter. Internal sales of consumables increased 3.7 percent year-over-year. Excluding the deflationary impact of certain infection control products, internal sales of consumables increased 4.4 percent year-over-year. Compared to the prior year period, internal sales of equipment decreased 11.9 percent. Internal sales of value-added services decreased 11.0 percent compared to the prior year period, primarily due to the negative impact of the cybersecurity attack on Change Healthcare.

    Patterson Animal Health

    Reported net sales in the Animal Health segment for the fourth quarter of fiscal 2024 were $1.06 billion. Internal sales growth of 2.5 percent year-over-year was driven by sales growth in the production animal business. Compared to the prior year period, internal sales of consumables grew 2.5 percent, equipment decreased 4.0 percent and value-added services increased 15.0 percent.

    Balance Sheet and Capital Allocation

    During fiscal 2024, Patterson Companies used $789.4 million of cash from operating activities and collected deferred purchase price receivables of $1.03 billion, generating $238.9 million in cash, compared to generating $244.1 million during fiscal 2023. Free cash flow1 (see definition below and attached free cash flow table) during fiscal 2024 declined by $8.6 million compared to the fiscal 2023 period due to operational performance and an increased level of capital spending during fiscal 2024.

    In the fourth quarter of fiscal 2024, Patterson Companies declared a quarterly cash dividend of $0.26 per share, returning $23.3 million in cash dividends to shareholders. Also, under a prior repurchase authorization, the company repurchased approximately 0.5 million shares during the fiscal fourth quarter. At of the end of fiscal 2024, Patterson had approximately $500 million of share repurchase authority remaining on its current share repurchase authorization. During fiscal 2024, Patterson Companies returned $327.9 million to shareholders in the form of cash dividends and share repurchases.

    Fiscal 2024 Full Year Results

    Consolidated reported net sales for fiscal 2024 totaled $6.57 billion, a 1.5 percent year-over-year increase. Internal sales for fiscal 2024, which are adjusted for the effects of currency translation, contributions from recent acquisitions and the net impact of an interest rate swap, increased 0.8 percent year-over-year. Fiscal 2024 Dental segment internal sales were flat compared to the prior fiscal year, including a 4.4 percent increase in consumables, a 6.9 percent decline in equipment and a 0.8 percent decrease in value-added services. Fiscal 2024 Animal Health segment internal sales increased 1.3 percent, including 0.8 percent growth in consumables, a 3.3 percent decline in equipment and a 42.6 percent increase in value-added services.

    Reported net income attributable to Patterson Companies, Inc. in fiscal 2024 was $185.9 million, or $1.98 per diluted share, compared to $207.6 million, or $2.12 per diluted share in fiscal 2023. Adjusted net income1 attributable to Patterson Companies, Inc., which excludes deal amortization, totaled $215.3 million, or $2.30 per diluted share, compared to $236.4 million, or $2.42 per diluted share, in the prior year.

    Fiscal 2025 Guidance

    Patterson Companies today initiated its fiscal 2025 earnings guidance, which is provided on both a GAAP and non-GAAP adjusted1 basis:

    • GAAP earnings are expected to be in the range of $2.00 to $2.10 per diluted share.
    • Non-GAAP adjusted earnings1 are expected to be in the range of $2.33 to $2.43 per diluted share.
    • Our non-GAAP adjusted earnings1 guidance excludes the after-tax impact of:
      • Deal amortization expenses of approximately $29.1 million ($0.33 per diluted share).

    Our guidance reflects the strength of our business and competitive positioning as well as completed and previously announced acquisitions. It does not include the impact of unplanned share repurchases, potential future acquisitions or similar transactions, impairments, restructuring and integration expenses not previously publicly disclosed, or amortization expense of acquired intangible assets. Our guidance assumes North American and international end market conditions consistent with current market conditions.

    1Non-GAAP Financial Measures

    The term "internal sales" used in this release represents net sales adjusted for the effects of currency translation, contributions from recent acquisitions and the net impact of an interest rate swap. Foreign currency impact represents the difference in results that is attributable to fluctuations in currency exchange rates the company uses to convert results for all foreign entities where the functional currency is not the U.S. dollar. The company calculates the impact as the difference between the current period results translated using the current period currency exchange rates and using the comparable prior period's currency exchange rates. The company believes the disclosure of net sales excluding the impact of foreign currency, an interest rate swap and recent acquisitions provides useful supplementary information to investors in light of fluctuations in these variables that are independent of our period-over-period performance.

    The term "free cash flow" used in this release is defined as net cash used in operating activities less capital expenditures plus the collection of deferred purchase price receivables.

    The Reconciliation of GAAP to non-GAAP Measures table appearing behind the accompanying financial information is provided to adjust reported GAAP measures, namely net sales, gross profit, operating expenses, operating income, other income (expense), net, income before taxes, income tax expense, net income, net loss attributable to noncontrolling interests, net income attributable to Patterson Companies, Inc., and diluted earnings per share attributable to Patterson Companies, Inc. for the impact of deal amortization and an interest rate swap along with any related tax effects of these items.

    • Deal amortization represents non-cash intangible amortization expense, primarily related to the acquisition of Animal Health International.



    • Interest rate swap -- Our customer financing net sales include the impact of changes in interest rates on deferred purchase price receivables, as the average interest rate in our contract portfolio may not fluctuate at the same rate as interest rate markets, resulting in an increase or reduction of gain on contract sales.



      We enter into an interest rate swap to hedge a portion of the related interest rate risk. These agreements do not qualify for hedge accounting, and the gains or losses on an interest rate swap are reported in other income and expense in our condensed consolidated statements of operation and other comprehensive income.



      We present a non-GAAP adjustment to reclassify the mark-to-market adjustment on the interest rate swap from other income (expense) to net sales to align the swap impact with the impact on customer financing net sales. We believe adjusted net sales, adjusted gross profit and adjusted operating income, which include the gains and losses on the interest rate swap, provides additional comparability from period to period because they present the impact of interest rate fluctuations, net of the mark-to-market swap adjustment, within adjusted net sales. We note the net impact of interest rate fluctuations has a minimal impact on net income.

    Management believes that these non-GAAP measures may provide a helpful representation of the company's performance and enable comparison of financial results between periods where certain items may vary independent of business performance. These non-GAAP financial measures are presented solely for informational and comparative purposes and should not be regarded as a replacement for corresponding, similarly captioned, GAAP measures.

    Fourth Quarter Conference Call and Replay

    Patterson Companies' fiscal 2024 fourth quarter conference call will start at 8:30 a.m. Eastern today. Investors can listen to a live webcast of the conference call at www.pattersoncompanies.com. The conference call will be archived on the Patterson Companies website. A replay of the fiscal 2023 fourth quarter conference call can be heard for one week at 1-800-770-2030 and by providing the Conference ID 67281 when prompted.

    About Patterson Companies Inc.

    Patterson Companies Inc. (NASDAQ:PDCO) connects dental and animal health customers in North America and the U.K. to the latest products, technologies, services and innovative business solutions that enable operational and professional success. Our comprehensive portfolio, distribution network and supply chain is equaled only by our dedicated, knowledgeable people who deliver unrivalled expertise and unmatched customer service and support.

    Learn more: pattersoncompanies.com

    This press release contains, and our officers and representatives may from time to time make, certain "forward-looking statements" within the meaning of the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995, including statements regarding future financial performance, and the objectives and expectations of management. Forward-looking statements often include words such as "believes," "expects," "anticipates," "estimates," "intends," "plans," "seeks" or words of similar meaning, or future or conditional verbs, such as "will," "should," "could" or "may."

    Forward-looking statements are neither historical facts nor assurances of future performance. Instead, they are based only on our current beliefs, expectations and assumptions regarding the future of our business, future plans and strategies, projections, anticipated events and trends, the economy and other future conditions. Because forward-looking statements relate to the future, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict and many of which are outside of our control. Our actual results and financial condition may differ materially from those indicated in the forward-looking statements. Therefore, you should not place undue reliance on any of these forward-looking statements.

    Any number of factors could affect our actual results and cause such results to differ materially from those contemplated by any forward-looking statements, including, but not limited to, the following: our dependence on suppliers to manufacture and supply substantially all of the products we sell; potential disruption of distribution capabilities, including service issues with third-party shippers; our dependence on relationships with sales representatives and service technicians to retain customers and develop business; risks of selling private label products, including the risk of adversely affecting our relationships with suppliers; adverse changes in supplier rebates or other purchasing incentives; the risk of technological and market obsolescence for the products we sell; the risk of failing to innovate and develop new and enhanced software and e-services products; our dependence on positive perceptions of Patterson's reputation; risks associated with illicit human use of pharmaceutical products we distribute; risks inherent in acquiring and disposing of assets or other businesses and risks inherent in integrating acquired businesses; turnover or loss of key personnel or highly skilled employees; risks associated with information systems, software products and cyber-security attacks; risks inherent in our growing use of AI systems to automate processes and analyze data; adverse impacts of wide-spread public health concerns as we experienced with the COVID-19 pandemic and may experience in the future; risks related to climate change; our ability to comply with restrictive covenants and other limits in our credit agreement; the risk that our governing documents and Minnesota law may discourage takeovers and business combinations; the effects of the highly competitive dental and animal health supply markets in which we compete; the effects of consolidation within the dental and animal health supply markets; risks from the formation or expansion of GPOs, provider networks and buying groups that may place us at a competitive disadvantage; exposure to the risks of the animal production business, including changing consumer demand, the cyclical livestock market, weather conditions, the availability of natural resources and other factors outside our control, and the risks of the companion animal business, including the possibility of disease adversely affecting the pet population; exposure to the risks of the health care industry, including changes in demand due to political, economic and regulatory influences and other factors outside our control; increases in over-the-counter sales and e-commerce options; risks of litigation and government inquiries and investigations, including the diversion of management's attention, the cost of defending against such actions, the possibility of damage awards or settlements, fines or penalties, or equitable remedies (including but not limited to the revocation of or non-renewal of licenses) and inherent uncertainty; failure to comply with health care fraud or other laws and regulations; change and uncertainty in the health care industry; failure to comply with existing or future U.S. or foreign laws and regulations including those governing the distribution of pharmaceuticals and controlled substances; failure to comply with evolving data privacy laws and regulations; tax legislation; risks inherent in international operations, including currency fluctuations; and uncertain macro-economic conditions, including inflationary pressures.

    The order in which these factors appear should not be construed to indicate their relative importance or priority. We caution that these factors may not be exhaustive, accordingly, any forward-looking statements contained herein should not be relied upon as a prediction of actual results.

    You should carefully consider these and other relevant factors, including those risk factors in Part I, Item 1A, ("Risk Factors") in our most recent Form 10-K and information which may be contained in our other filings with the U.S. Securities and Exchange Commission, or SEC, when reviewing any forward-looking statement.

    Investors should understand it is impossible to predict or identify all such factors or risks. As such, you should not consider the foregoing list, or the risks identified in our SEC filings, to be a complete discussion of all potential risks or uncertainties.

    Any forward-looking statement made by us in this press release is based only on information currently available to us and speaks only as of the date on which it is made. We do not undertake any obligation to release publicly any revisions to any forward-looking statements, whether written or oral, that may be made from time to time, whether as a result of new information, future developments or otherwise.

     

    PATTERSON COMPANIES, INC.

    CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS

    (In thousands, except per share amounts)

    (Unaudited)

     
     

     

    Three Months Ended

     

    Twelve Months Ended

     

    April 27,

    2024

     

    April 29,

    2023

     

    April 27,

    2024

     

    April 29,

    2023

     

     

     

     

     

     

     

     

    Net sales

    $

    1,722,660

     

     

    $

    1,721,152

     

     

    $

    6,568,272

     

     

    $

    6,471,471

     

     

     

     

     

     

     

     

     

    Gross profit

     

    371,155

     

     

     

    389,761

     

     

     

    1,380,242

     

     

     

    1,372,945

     

     

     

     

     

     

     

     

     

    Operating expenses

     

    283,368

     

     

     

    284,651

     

     

     

    1,127,318

     

     

     

    1,096,974

     

     

     

     

     

     

     

     

     

    Operating income

     

    87,787

     

     

     

    105,110

     

     

     

    252,924

     

     

     

    275,971

     

     

     

     

     

     

     

     

     

    Other income (expense):

     

     

     

     

     

     

     

    Other income, net

     

    12,389

     

     

     

    4,747

     

     

     

    35,039

     

     

     

    27,826

     

    Interest expense

     

    (13,031

    )

     

     

    (10,798

    )

     

     

    (44,910

    )

     

     

    (33,636

    )

     

     

     

     

     

     

     

     

    Income before taxes

     

    87,145

     

     

     

    99,059

     

     

     

    243,053

     

     

     

    270,161

     

     

     

     

     

     

     

     

     

    Income tax expense

     

    20,204

     

     

     

    24,217

     

     

     

    57,534

     

     

     

    63,563

     

     

     

     

     

     

     

     

     

    Net income

     

    66,941

     

     

     

    74,842

     

     

     

    185,519

     

     

     

    206,598

     

    Net loss attributable to noncontrolling interests

     

    (95

    )

     

     

    (123

    )

     

     

    (412

    )

     

     

    (959

    )

    Net income attributable to Patterson Companies, Inc.

    $

    67,036

     

     

    $

    74,965

     

     

    $

    185,931

     

     

    $

    207,557

     

     

     

     

     

     

     

     

     

    Earnings per share attributable to Patterson Companies, Inc.:

     

     

     

     

     

     

     

    Basic

    $

    0.75

     

     

    $

    0.77

     

     

    $

    2.00

     

     

    $

    2.14

     

    Diluted

    $

    0.74

     

     

    $

    0.77

     

     

    $

    1.98

     

     

    $

    2.12

     

     

     

     

     

     

     

     

     

    Weighted average shares:

     

     

     

     

     

     

     

    Basic

     

    89,613

     

     

     

    97,224

     

     

     

    92,969

     

     

     

    97,027

     

    Diluted

     

    90,227

     

     

     

    97,768

     

     

     

    93,679

     

     

     

    97,815

     

     

     

     

     

     

     

     

     

    Dividends declared per common share

    $

    0.26

     

     

    $

    0.26

     

     

    $

    1.04

     

     

    $

    1.04

     

     

    PATTERSON COMPANIES, INC.

    CONDENSED CONSOLIDATED BALANCE SHEETS

    (In thousands)

    (Unaudited)

     
     

     

    April 27,

    2024

     

    April 29,

    2023

     

     

     

     

    ASSETS

     

     

     

    Current assets:

     

     

     

    Cash and cash equivalents

    $

    114,462

     

    $

    159,669

    Receivables, net

     

    547,287

     

     

    477,384

    Inventory

     

    782,898

     

     

    795,072

    Prepaid expenses and other current assets

     

    334,116

     

     

    351,011

    Total current assets

     

    1,778,763

     

     

    1,783,136

    Property and equipment, net

     

    229,081

     

     

    212,283

    Operating lease right-of-use assets, net

     

    122,295

     

     

    92,956

    Goodwill and identifiable intangibles, net

     

    349,589

     

     

    388,293

    Investments

     

    166,320

     

     

    160,022

    Long-term receivables, net and other

     

    250,684

     

     

    242,456

    Total assets

    $

    2,896,732

     

    $

    2,879,146

     

     

     

     

    LIABILITIES AND STOCKHOLDERS' EQUITY

     

     

     

    Current liabilities:

     

     

     

    Accounts payable

    $

    745,375

     

    $

    724,993

    Other accrued liabilities

     

    245,610

     

     

    250,949

    Operating lease liabilities

     

    32,815

     

     

    28,390

    Current maturities of long-term debt

     

    122,750

     

     

    36,000

    Borrowings on revolving credit

     

    186,000

     

     

    45,000

    Total current liabilities

     

    1,332,550

     

     

    1,085,332

    Long-term debt

     

    328,911

     

     

    451,231

    Non-current operating lease liabilities

     

    92,464

     

     

    67,376

    Other non-current liabilities

     

    141,075

     

     

    156,672

    Total liabilities

     

    1,895,000

     

     

    1,760,611

    Stockholders' equity

     

    1,001,732

     

     

    1,118,535

    Total liabilities and stockholders' equity

    $

    2,896,732

     

    $

    2,879,146

     

    PATTERSON COMPANIES, INC.

    CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

    (In thousands)

    (Unaudited)

     
     

     

    Twelve Months Ended

     

    April 27,

    2024

     

    April 29,

    2023

     

     

     

     

    Operating activities:

     

     

     

    Net income

    $

    185,519

     

     

    $

    206,598

     

    Adjustments to reconcile net income to net cash used in operating activities:

     

     

     

    Depreciation and amortization

     

    88,156

     

     

     

    83,704

     

    Stock-based compensation

     

    17,871

     

     

     

    15,543

     

    Non-cash losses (gains) and other, net

     

    204

     

     

     

    654

     

    Change in assets and liabilities:

     

     

     

    Receivables

     

    (1,102,618

    )

     

     

    (1,047,075

    )

    Inventory

     

    11,039

     

     

     

    (11,086

    )

    Accounts payable

     

    21,343

     

     

     

    43,095

     

    Accrued liabilities

     

    (2,788

    )

     

     

    (21,714

    )

    Other changes from operating activities, net

     

    (8,104

    )

     

     

    (24,571

    )

    Net cash used in operating activities

     

    (789,378

    )

     

     

    (754,852

    )

    Investing activities:

     

     

     

    Additions to property and equipment and software

     

    (67,626

    )

     

     

    (64,220

    )

    Collection of deferred purchase price receivables

     

    1,028,277

     

     

     

    998,912

     

    Payments related to acquisitions, net of cash acquired

     

    (1,108

    )

     

     

    (33,280

    )

    Payments related to investments

     

    —

     

     

     

    (15,000

    )

    Other investing activities

     

    —

     

     

     

    15,155

     

    Net cash provided by investing activities

     

    959,543

     

     

     

    901,567

     

    Financing activities:

     

     

     

    Dividends paid

     

    (98,333

    )

     

     

    (101,346

    )

    Repurchases of common stock

     

    (229,508

    )

     

     

    (55,492

    )

    Payments on long-term debt

     

    (36,000

    )

     

     

    (1,500

    )

    Draw on revolving credit

     

    141,000

     

     

     

    16,000

     

    Other financing activities

     

    6,936

     

     

     

    15,854

     

    Net cash used in financing activities

     

    (215,905

    )

     

     

    (126,484

    )

    Effect of exchange rate changes on cash

     

    533

     

     

     

    (2,576

    )

    Net change in cash and cash equivalents

     

    (45,207

    )

     

     

    17,655

     

    Cash and cash equivalents at beginning of period

     

    159,669

     

     

     

    142,014

     

    Cash and cash equivalents at end of period

    $

    114,462

     

     

    $

    159,669

     

     

    PATTERSON COMPANIES, INC.

    SALES SUMMARY

    (Dollars in thousands)

    (Unaudited)

     
     

     

    April 27,

    2024

     

    April 29,

    2023

     

    Total

    Sales

    Growth

     

    Foreign

    Exchange

    Impact

     

    Net

    Interest

    Rate

    Swap

     

    Acquisition

    Impact

     

    Internal

    Sales

    Growth

    Three Months Ended

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

    Consolidated net sales

     

     

     

     

     

     

     

     

     

     

     

     

     

    Consumable

    $

    1,376,634

     

    $

    1,333,446

     

    3.2%

     

    0.4%

     

    —%

     

    —%

     

    2.8%

    Equipment

     

    249,071

     

     

    279,901

     

    (11.0)

     

    —

     

    —

     

    —

     

    (11.0)

    Value-added services and other

     

    96,955

     

     

    107,805

     

    (10.1)

     

    0.3

     

    5.3

     

    —

     

    (15.7)

    Total

    $

    1,722,660

     

    $

    1,721,152

     

    0.1%

     

    0.3%

     

    0.3%

     

    —%

     

    (0.5)%

     

     

     

     

     

     

     

     

     

     

     

     

     

     

    Dental

     

     

     

     

     

     

     

     

     

     

     

     

     

    Consumable

    $

    366,297

     

    $

    353,295

     

    3.7%

     

    —%

     

    —%

     

    —%

     

    3.7%

    Equipment

     

    217,317

     

     

    246,820

     

    (12.0)

     

    (0.1)

     

    —

     

    —

     

    (11.9)

    Value-added services and other

     

    74,202

     

     

    83,391

     

    (11.0)

     

    —

     

    —

     

    —

     

    (11.0)

    Total

    $

    657,816

     

    $

    683,506

     

    (3.8)%

     

    —%

     

    —%

     

    —%

     

    (3.8)%

     

     

     

     

     

     

     

     

     

     

     

     

     

     

    Animal Health

     

     

     

     

     

     

     

     

     

     

     

     

     

    Consumable

    $

    1,010,337

     

    $

    980,151

     

    3.1%

     

    0.6%

     

    —%

     

    —%

     

    2.5%

    Equipment

     

    31,754

     

     

    33,081

     

    (4.0)

     

    —

     

    —

     

    —

     

    (4.0)

    Value-added services and other

     

    22,089

     

     

    18,946

     

    16.6

     

    1.6

     

    —

     

    —

     

    15.0

    Total

    $

    1,064,180

     

    $

    1,032,178

     

    3.1%

     

    0.6%

     

    —%

     

    —%

     

    2.5%

     

     

     

     

     

     

     

     

     

     

     

     

     

     

    Corporate

     

     

     

     

     

     

     

     

     

     

     

     

     

    Value-added services and other

    $

    664

     

    $

    5,468

     

    (87.9)%

     

    —%

     

    103.6%

     

    —%

     

    (191.5)%

    Total

    $

    664

     

    $

    5,468

     

    (87.9)%

     

    —%

     

    103.6%

     

    —%

     

    (191.5)%

     

     

     

     

     

     

     

     

     

     

     

     

     

     

    PATTERSON COMPANIES, INC.

    SALES SUMMARY

    (Dollars in thousands)

    (Unaudited)

     
     

     

    April 27,

    2024

     

    April 29,

    2023

     

    Total

    Sales

    Growth

     

    Foreign

    Exchange

    Impact

     

    Net

    Interest

    Rate

    Swap

     

    Acquisition

    Impact

     

    Internal

    Sales

    Growth

    Twelve Months Ended

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

    Consolidated net sales

     

     

     

     

     

     

     

     

     

     

     

     

     

    Consumable

    $

    5,274,012

     

    $

    5,147,330

     

    2.5%

     

    0.5%

     

    —%

     

    0.1%

     

    1.9%

    Equipment

     

    888,597

     

     

    950,403

     

    (6.5)

     

    (0.1)

     

    —

     

    —

     

    (6.4)

    Value-added services and other

     

    405,663

     

     

    373,738

     

    8.5

     

    0.4

     

    0.7

     

    3.7

     

    3.7

    Total

    $

    6,568,272

     

    $

    6,471,471

     

    1.5%

     

    0.4%

     

    —%

     

    0.3%

     

    0.8%

     

     

     

     

     

     

     

     

     

     

     

     

     

     

    Dental

     

     

     

     

     

     

     

     

     

     

     

     

     

    Consumable

    $

    1,415,789

     

    $

    1,358,823

     

    4.2%

     

    (0.2)%

     

    —%

     

    —%

     

    4.4%

    Equipment

     

    766,345

     

     

    823,978

     

    (7.0)

     

    (0.1)

     

    —

     

    —

     

    (6.9)

    Value-added services and other

     

    306,500

     

     

    309,341

     

    (0.9)

     

    (0.1)

     

    —

     

    —

     

    (0.8)

    Total

    $

    2,488,634

     

    $

    2,492,142

     

    (0.1)%

     

    (0.1)%

     

    —%

     

    —%

     

    —%

     

     

     

     

     

     

     

     

     

     

     

     

     

     

    Animal Health

     

     

     

     

     

     

     

     

     

     

     

     

     

    Consumable

    $

    3,858,223

     

    $

    3,788,507

     

    1.8%

     

    0.8%

     

    —%

     

    0.2%

     

    0.8%

    Equipment

     

    122,252

     

     

    126,425

     

    (3.3)

     

    —

     

    —

     

    —

     

    (3.3)

    Value-added services and other

     

    86,594

     

     

    49,990

     

    73.2

     

    3.1

     

    —

     

    27.5

     

    42.6

    Total

    $

    4,067,069

     

    $

    3,964,922

     

    2.6%

     

    0.8%

     

    —%

     

    0.5%

     

    1.3%

     

     

     

     

     

     

     

     

     

     

     

     

     

     

    Corporate

     

     

     

     

     

     

     

     

     

     

     

     

     

    Value-added services and other

    $

    12,569

     

    $

    14,407

     

    (12.8)%

     

    —%

     

    17.2%

     

    —%

     

    (30.0)%

    Total

    $

    12,569

     

    $

    14,407

     

    (12.8)%

     

    —%

     

    17.2%

     

    —%

     

    (30.0)%

     

    PATTERSON COMPANIES, INC.

    OPERATING INCOME BY SEGMENT

    (In thousands)

    (Unaudited)

     
     

     

    Three Months Ended

     

    Twelve Months Ended

     

    April 27,

    2024

     

    April 29,

    2023

     

    April 27,

    2024

     

    April 29,

    2023

     

     

     

     

     

     

     

     

    Operating income (loss)

     

     

     

     

     

     

     

    Dental

    $

    62,230

     

     

    $

    79,121

     

     

    $

    209,807

     

     

    $

    237,268

     

    Animal Health

     

    50,934

     

     

     

    46,622

     

     

     

    139,077

     

     

     

    126,994

     

    Corporate

     

    (25,377

    )

     

     

    (20,633

    )

     

     

    (95,960

    )

     

     

    (88,291

    )

    Total

    $

    87,787

     

     

    $

    105,110

     

     

    $

    252,924

     

     

    $

    275,971

     

     

    PATTERSON COMPANIES, INC.

    RECONCILIATION OF GAAP TO NON-GAAP MEASURES

    (Dollars in thousands, except per share amounts)

    (Unaudited)

     
     

    For the three months ended April 27, 2024

     

    GAAP

     

    Deal

    amortization

     

    Interest rate

    swap

     

    Non-GAAP

    Net sales

     

    $

    1,722,660

     

     

    $

    —

     

     

    $

    6,360

     

     

    $

    1,729,020

     

    Gross profit

     

     

    371,155

     

     

     

    —

     

     

     

    6,360

     

     

     

    377,515

     

    Operating expenses

     

     

    283,368

     

     

     

    (9,655

    )

     

     

    —

     

     

     

    273,713

     

    Operating income

     

     

    87,787

     

     

     

    9,655

     

     

     

    6,360

     

     

     

    103,802

     

    Other income (expense), net

     

     

    (642

    )

     

     

    —

     

     

     

    (6,360

    )

     

     

    (7,002

    )

    Income before taxes

     

     

    87,145

     

     

     

    9,655

     

     

     

    —

     

     

     

    96,800

     

    Income tax expense

     

     

    20,204

     

     

     

    2,305

     

     

     

    —

     

     

     

    22,509

     

    Net income

     

     

    66,941

     

     

     

    7,350

     

     

     

    —

     

     

     

    74,291

     

    Net loss attributable to noncontrolling interests

     

     

    (95

    )

     

     

    —

     

     

     

    —

     

     

     

    (95

    )

    Net income attributable to Patterson Companies, Inc.

     

    $

    67,036

     

     

    $

    7,350

     

     

    $

    —

     

     

    $

    74,386

     

     

     

     

     

     

     

     

     

     

    Diluted earnings per share attributable to Patterson Companies, Inc.*

     

    $

    0.74

     

     

    $

    0.08

     

     

    $

    —

     

     

    $

    0.82

     

     

     

     

     

     

     

     

     

     

    Gross margin

     

     

    21.5

    %

     

     

     

     

     

     

    21.8

    %

    Operating margin

     

     

    5.1

    %

     

     

     

     

     

     

    6.0

    %

    Effective tax rate

     

     

    23.2

    %

     

     

     

     

     

     

    23.3

    %

     

     

     

     

     

     

     

     

     

    For the three months ended April 29, 2023

     

    GAAP

     

    Deal

    amortization

     

    Interest rate

    swap

     

    Non-GAAP

    Net sales

     

    $

    1,721,152

     

     

    $

    —

     

     

    $

    693

     

     

    $

    1,721,845

     

    Gross profit

     

     

    389,761

     

     

     

    —

     

     

     

    693

     

     

     

    390,454

     

    Operating expenses

     

     

    284,651

     

     

     

    (9,772

    )

     

     

    —

     

     

     

    274,879

     

    Operating income

     

     

    105,110

     

     

     

    9,772

     

     

     

    693

     

     

     

    115,575

     

    Other income (expense), net

     

     

    (6,051

    )

     

     

    —

     

     

     

    (693

    )

     

     

    (6,744

    )

    Income before taxes

     

     

    99,059

     

     

     

    9,772

     

     

     

    —

     

     

     

    108,831

     

    Income tax expense

     

     

    24,217

     

     

     

    2,337

     

     

     

    —

     

     

     

    26,554

     

    Net income

     

     

    74,842

     

     

     

    7,435

     

     

     

    —

     

     

     

    82,277

     

    Net loss attributable to noncontrolling interests

     

     

    (123

    )

     

     

    —

     

     

     

    —

     

     

     

    (123

    )

    Net income attributable to Patterson Companies, Inc.

     

    $

    74,965

     

     

    $

    7,435

     

     

    $

    —

     

     

    $

    82,400

     

     

     

     

     

     

     

     

     

     

    Diluted earnings per share attributable to Patterson Companies, Inc.*

     

    $

    0.77

     

     

    $

    0.08

     

     

    $

    —

     

     

    $

    0.84

     

     

     

     

     

     

     

     

     

     

    Gross margin

     

     

    22.6

    %

     

     

     

     

     

     

    22.7

    %

    Operating margin

     

     

    6.1

    %

     

     

     

     

     

     

    6.7

    %

    Effective tax rate

     

     

    24.4

    %

     

     

     

     

     

     

    24.4

    %

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

    * May not sum due to rounding.

     

    PATTERSON COMPANIES, INC.

    RECONCILIATION OF GAAP TO NON-GAAP MEASURES

    (Dollars in thousands, except per share amounts)

    (Unaudited)

     
     

    For the twelve months ended April 27, 2024

     

    GAAP

     

    Deal

    amortization

     

    Interest rate

    swap

     

    Non-GAAP

    Net sales

     

    $

    6,568,272

     

     

    $

    —

     

     

    $

    12,447

     

     

    $

    6,580,719

     

    Gross profit

     

     

    1,380,242

     

     

     

    —

     

     

     

    12,447

     

     

     

    1,392,689

     

    Operating expenses

     

     

    1,127,318

     

     

     

    (38,539

    )

     

     

    —

     

     

     

    1,088,779

     

    Operating income

     

     

    252,924

     

     

     

    38,539

     

     

     

    12,447

     

     

     

    303,910

     

    Other income (expense), net

     

     

    (9,871

    )

     

     

    —

     

     

     

    (12,447

    )

     

     

    (22,318

    )

    Income before taxes

     

     

    243,053

     

     

     

    38,539

     

     

     

    —

     

     

     

    281,592

     

    Income tax expense

     

     

    57,534

     

     

     

    9,218

     

     

     

    —

     

     

     

    66,752

     

    Net income

     

     

    185,519

     

     

     

    29,321

     

     

     

    —

     

     

     

    214,840

     

    Net loss attributable to noncontrolling interests

     

     

    (412

    )

     

     

    —

     

     

     

    —

     

     

     

    (412

    )

    Net income attributable to Patterson Companies, Inc.

     

    $

    185,931

     

     

    $

    29,321

     

     

    $

    —

     

     

    $

    215,252

     

     

     

     

     

     

     

     

     

     

    Diluted earnings per share attributable to Patterson Companies, Inc.*

     

    $

    1.98

     

     

    $

    0.31

     

     

    $

    —

     

     

    $

    2.30

     

     

     

     

     

     

     

     

     

     

    Gross margin

     

     

    21.0

    %

     

     

     

     

     

     

    21.2

    %

    Operating margin

     

     

    3.9

    %

     

     

     

     

     

     

    4.6

    %

    Effective tax rate

     

     

    23.7

    %

     

     

     

     

     

     

    23.7

    %

     

     

     

     

     

     

     

     

     

    For the twelve months ended April 29, 2023

     

    GAAP

     

    Deal

    amortization

     

    Interest rate

    swap

     

    Non-GAAP

    Net sales

     

    $

    6,471,471

     

     

    $

    —

     

     

    $

    9,968

     

     

    $

    6,481,439

     

    Gross profit

     

     

    1,372,945

     

     

     

    —

     

     

     

    9,968

     

     

     

    1,382,913

     

    Operating expenses

     

     

    1,096,974

     

     

     

    (37,932

    )

     

     

    —

     

     

     

    1,059,042

     

    Operating income

     

     

    275,971

     

     

     

    37,932

     

     

     

    9,968

     

     

     

    323,871

     

    Other income (expense), net

     

     

    (5,810

    )

     

     

    —

     

     

     

    (9,968

    )

     

     

    (15,778

    )

    Income before taxes

     

     

    270,161

     

     

     

    37,932

     

     

     

    —

     

     

     

    308,093

     

    Income tax expense

     

     

    63,563

     

     

     

    9,083

     

     

     

    —

     

     

     

    72,646

     

    Net income

     

     

    206,598

     

     

     

    28,849

     

     

     

    —

     

     

     

    235,447

     

    Net loss attributable to noncontrolling interests

     

     

    (959

    )

     

     

    —

     

     

     

    —

     

     

     

    (959

    )

    Net income attributable to Patterson Companies, Inc.

     

    $

    207,557

     

     

    $

    28,849

     

     

    $

    —

     

     

    $

    236,406

     

     

     

     

     

     

     

     

     

     

    Diluted earnings per share attributable to Patterson Companies, Inc.*

     

    $

    2.12

     

     

    $

    0.29

     

     

    $

    —

     

     

    $

    2.42

     

     

     

     

     

     

     

     

     

     

    Gross margin

     

     

    21.2

    %

     

     

     

     

     

     

    21.3

    %

    Operating margin

     

     

    4.3

    %

     

     

     

     

     

     

    5.0

    %

    Effective tax rate

     

     

    23.5

    %

     

     

     

     

     

     

    23.6

    %

     

     

     

     

     

     

     

     

     

    * May not sum due to rounding.

     

    PATTERSON COMPANIES, INC.

    FREE CASH FLOW

    (In thousands)

    (Unaudited)

     
     

     

    Twelve Months Ended

     

    April 27,

    2024

     

    April 29,

    2023

     

     

     

     

    Net cash used in operating activities

    $

    (789,378

    )

     

    $

    (754,852

    )

    Additions to property and equipment and software

     

    (67,626

    )

     

     

    (64,220

    )

    Collection of deferred purchase price receivables

     

    1,028,277

     

     

     

    998,912

     

    Free cash flow

    $

    171,273

     

     

    $

    179,840

     

     

     

     

     

     

    View source version on businesswire.com: https://www.businesswire.com/news/home/20240618970352/en/

    Get the next $PDCO alert in real time by email

    Crush Q3 2025 with the Best AI Executive Assistant

    Stay ahead of the competition with Tailforce.ai - your AI-powered business intelligence partner.

    AI-Powered Inbox
    Context-aware email replies
    Strategic Decision Support
    Get Started with Tailforce.ai

    Recent Analyst Ratings for
    $PDCO

    DatePrice TargetRatingAnalyst
    12/4/2024$23.00Neutral
    Mizuho
    2/29/2024$34.00 → $28.00Overweight → Neutral
    Piper Sandler
    2/26/2024$36.00Outperform
    Leerink Partners
    5/13/2022$36.00Outperform
    Credit Suisse
    3/3/2022$30.00 → $32.00Equal-Weight
    Morgan Stanley
    1/31/2022$30.00Equal-Weight
    Morgan Stanley
    10/1/2021$38.00Outperform
    Credit Suisse
    More analyst ratings

    $PDCO
    Insider Trading

    Insider transactions reveal critical sentiment about the company from key stakeholders. See them live in this feed.

    See more
    • Director Tomczik Pamela J returned 7,820 shares to the company, closing all direct ownership in the company (SEC Form 4)

      4 - PATTERSON COMPANIES, INC. (0000891024) (Issuer)

      4/17/25 2:15:41 PM ET
      $PDCO
      Medical Specialities
      Health Care
    • Director Schrimsher Neil A returned 48,788 shares to the company, closing all direct ownership in the company (SEC Form 4)

      4 - PATTERSON COMPANIES, INC. (0000891024) (Issuer)

      4/17/25 2:08:45 PM ET
      $PDCO
      Medical Specialities
      Health Care
    • Director Mckoy Philip returned 18,114 shares to the company, closing all direct ownership in the company (SEC Form 4)

      4 - PATTERSON COMPANIES, INC. (0000891024) (Issuer)

      4/17/25 2:06:32 PM ET
      $PDCO
      Medical Specialities
      Health Care

    $PDCO
    Press Releases

    Fastest customizable press release news feed in the world

    See more
    • Sterling Infrastructure Set to Join S&P SmallCap 600

      NEW YORK, April 14, 2025 /PRNewswire/ -- Sterling Infrastructure Inc. (NASD: STRL) will replace Patterson Companies Inc. (NASD: PDCO) in the S&P SmallCap 600 effective prior to the opening of trading on Thursday, April 17. Patient Square Capital is acquiring Patterson Companies in a deal expected to be completed soon, pending final closing conditions. Following is a summary of the changes that will take place prior to the open of trading on the effective date: Effective Date Index Name       Action Company Name Ticker GICS Sector April 17, 2025 S&P SmallCap 600 Addition Sterling Infrastructure STRL Industrials April 17, 2025 S&P SmallCap 600 Deletion Patterson Companies PDCO Health Care Fo

      4/14/25 6:43:00 PM ET
      $PDCO
      $SPGI
      $STRL
      Medical Specialities
      Health Care
      Finance: Consumer Services
      Finance
    • Patterson Companies, Inc. Shareholders Approve Acquisition by Patient Square Capital

      Patterson Companies, Inc. (NASDAQ:PDCO), a value-added specialty distributor serving the U.S. and Canadian dental supply markets and the U.S., Canadian and U.K. animal health supply markets, today announced that its shareholders approved at a special meeting the acquisition of Patterson by Patient Square Capital, a dedicated health care investment firm. Don Zurbay, Patterson's President and Chief Executive Officer, said, "I would like to express my gratitude to the Patterson shareholders for their support today, and throughout this transaction process. The Patterson team is excited about this partnership with Patient Square Capital and beginning our next chapter as a private company. We be

      4/1/25 1:00:00 PM ET
      $PDCO
      Medical Specialities
      Health Care
    • Patterson Companies Reports Fiscal 2025 Third Quarter Operating Results

      Third quarter reported net sales decreased 2.7 percent year-over-year to $1.57 billion, and internal sales decreased 2.4 percent. Delivered third quarter GAAP earnings of $0.35 per diluted share and adjusted earnings1 of $0.43 per diluted share; both GAAP and adjusted earnings1 were negatively impacted by the cybersecurity attack on Change Healthcare compared to the prior year. Returned $119.2 million to shareholders in the form of cash dividends and share repurchases through the first nine months of fiscal 2025. Patterson Companies, Inc. (NASDAQ:PDCO) today reported operating results for its fiscal 2025 third quarter ended January 25, 2025. "As we continue to progress toward cl

      2/26/25 4:30:00 PM ET
      $PDCO
      Medical Specialities
      Health Care

    $PDCO
    SEC Filings

    See more
    • SEC Form 15-12G filed by Patterson Companies Inc.

      15-12G - PATTERSON COMPANIES, INC. (0000891024) (Filer)

      4/28/25 10:30:38 AM ET
      $PDCO
      Medical Specialities
      Health Care
    • SEC Form 8-K filed by Patterson Companies Inc.

      8-K - PATTERSON COMPANIES, INC. (0000891024) (Filer)

      4/22/25 9:00:17 AM ET
      $PDCO
      Medical Specialities
      Health Care
    • SEC Form S-8 POS filed by Patterson Companies Inc.

      S-8 POS - PATTERSON COMPANIES, INC. (0000891024) (Filer)

      4/17/25 9:23:38 AM ET
      $PDCO
      Medical Specialities
      Health Care

    $PDCO
    Analyst Ratings

    Analyst ratings in real time. Analyst ratings have a very high impact on the underlying stock. See them live in this feed.

    See more
    • Mizuho initiated coverage on Patterson Companies with a new price target

      Mizuho initiated coverage of Patterson Companies with a rating of Neutral and set a new price target of $23.00

      12/4/24 7:46:30 AM ET
      $PDCO
      Medical Specialities
      Health Care
    • Patterson Companies downgraded by Piper Sandler with a new price target

      Piper Sandler downgraded Patterson Companies from Overweight to Neutral and set a new price target of $28.00 from $34.00 previously

      2/29/24 6:36:04 AM ET
      $PDCO
      Medical Specialities
      Health Care
    • Leerink Partners initiated coverage on Patterson Companies with a new price target

      Leerink Partners initiated coverage of Patterson Companies with a rating of Outperform and set a new price target of $36.00

      2/26/24 8:10:56 AM ET
      $PDCO
      Medical Specialities
      Health Care

    $PDCO
    Leadership Updates

    Live Leadership Updates

    See more
    • Sterling Infrastructure Set to Join S&P SmallCap 600

      NEW YORK, April 14, 2025 /PRNewswire/ -- Sterling Infrastructure Inc. (NASD: STRL) will replace Patterson Companies Inc. (NASD: PDCO) in the S&P SmallCap 600 effective prior to the opening of trading on Thursday, April 17. Patient Square Capital is acquiring Patterson Companies in a deal expected to be completed soon, pending final closing conditions. Following is a summary of the changes that will take place prior to the open of trading on the effective date: Effective Date Index Name       Action Company Name Ticker GICS Sector April 17, 2025 S&P SmallCap 600 Addition Sterling Infrastructure STRL Industrials April 17, 2025 S&P SmallCap 600 Deletion Patterson Companies PDCO Health Care Fo

      4/14/25 6:43:00 PM ET
      $PDCO
      $SPGI
      $STRL
      Medical Specialities
      Health Care
      Finance: Consumer Services
      Finance
    • Patterson Companies Announces Dental Leadership Appointment

      Kristin Dietzler Named Dental President Patterson Companies Inc. (NASDAQ:PDCO) announced the appointment of Kristin Dietzler as Patterson Dental's North American president. Dietzler brings extensive expertise in adjacent healthcare companies with a proven track record of success in optimizing results. She will report to Kevin Pohlman, chief operating officer of Patterson Companies, and she will be a member of the company's executive leadership team. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20241023782217/en/Kristin Dietzler Named Patterson Dental President (Photo: Business Wire) Dietzler joins Patterson Dental with nearly 30

      10/23/24 6:00:00 AM ET
      $PDCO
      Medical Specialities
      Health Care
    • Patterson Companies Announces Dental Leadership Transition

      Patterson Companies, Inc. (NASDAQ:PDCO) today announced that it has initiated a search for a new leader for its Dental segment. Tim Rogan, who has served as President of Patterson Dental since 2021, has stepped down from his role, effective immediately, and agreed to serve as an advisor to the Company in the short term to facilitate a smooth transition. The Dental segment will continue to report to Chief Operating Officer, Kevin Pohlman. "Our dental business has made significant progress to further enhance our value proposition and differentiate Patterson as the partner of choice for our customers. After careful consideration, we determined that a leadership transition will best position

      5/10/24 7:00:00 AM ET
      $PDCO
      Medical Specialities
      Health Care

    $PDCO
    Large Ownership Changes

    This live feed shows all institutional transactions in real time.

    See more
    • SEC Form SC 13G/A filed by Patterson Companies Inc. (Amendment)

      SC 13G/A - PATTERSON COMPANIES, INC. (0000891024) (Subject)

      2/13/24 5:12:03 PM ET
      $PDCO
      Medical Specialities
      Health Care
    • SEC Form SC 13G/A filed by Patterson Companies Inc. (Amendment)

      SC 13G/A - PATTERSON COMPANIES, INC. (0000891024) (Subject)

      12/8/23 4:16:31 PM ET
      $PDCO
      Medical Specialities
      Health Care
    • SEC Form SC 13G/A filed by Patterson Companies Inc. (Amendment)

      SC 13G/A - PATTERSON COMPANIES, INC. (0000891024) (Subject)

      2/14/23 12:37:55 PM ET
      $PDCO
      Medical Specialities
      Health Care

    $PDCO
    Financials

    Live finance-specific insights

    See more
    • Patterson Companies Reports Fiscal 2025 Third Quarter Operating Results

      Third quarter reported net sales decreased 2.7 percent year-over-year to $1.57 billion, and internal sales decreased 2.4 percent. Delivered third quarter GAAP earnings of $0.35 per diluted share and adjusted earnings1 of $0.43 per diluted share; both GAAP and adjusted earnings1 were negatively impacted by the cybersecurity attack on Change Healthcare compared to the prior year. Returned $119.2 million to shareholders in the form of cash dividends and share repurchases through the first nine months of fiscal 2025. Patterson Companies, Inc. (NASDAQ:PDCO) today reported operating results for its fiscal 2025 third quarter ended January 25, 2025. "As we continue to progress toward cl

      2/26/25 4:30:00 PM ET
      $PDCO
      Medical Specialities
      Health Care
    • Patterson Companies Reports Fiscal 2025 Second Quarter Operating Results

      Second quarter reported net sales increased 1.3 percent year-over-year to $1.67 billion, and internal sales increased 0.6 percent. Delivered second quarter GAAP earnings of $0.30 per diluted share and adjusted earnings1 of $0.47 per diluted share; both GAAP and adjusted earnings1 were negatively impacted by the cybersecurity attack on Change Healthcare compared to the prior year. Returned $96.2 million to shareholders in the form of cash dividends and share repurchases through the first six months of fiscal 2025. Revises fiscal 2025 GAAP earnings guidance range to $1.83 to $1.93 per diluted share and adjusted earnings1 guidance range to $2.25 to $2.35 per diluted share. Company

      12/5/24 7:00:00 AM ET
      $PDCO
      Medical Specialities
      Health Care
    • Patterson Companies Fiscal 2025 Second Quarter Conference Call Scheduled for Thursday, December 5, 2024

      Patterson Companies (NASDAQ:PDCO) today announced that it will hold its fiscal 2025 second-quarter conference call on Thursday, December 5, 2024, at 7:30 a.m. CT (8:30 a.m. ET). The company's earnings release will be issued that morning before the market opens. To access the live webcast, go to the investor relations section of the company's website, www.PattersonCompanies.com. An audio replay of the fiscal 2025 second-quarter conference call will also be available for one week. To access the audio replay, please pre-register at https://registrations.events/direct/Q4I672812531 to receive a unique access code to access and listen to the audio playback. About Patterson Companies Inc. Pa

      11/27/24 7:19:00 PM ET
      $PDCO
      Medical Specialities
      Health Care