Headquartered in St. Paul, MN, Patterson Companies Inc. (PDCO - Free Report) is one of the leading distributors of dental and companion-pet veterinarian supplies in the United States and Canada.
Currently, Patterson Companies has a Zacks Rank #4 (Sell) but that could change following its first-quarter fiscal 2018 earnings report which has just released. (You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.) We have highlighted some of the key details from the just-released announcement below:
Earnings: Patterson Companies posted adjusted earnings from continuing operations of 44 cents, which fell from 51 cents in the year-ago quarter. However, earnings came ahead of the Zacks Consensus Estimate of 43 cents.
Sales: Net sales from continuing operations fell 2.1% from the year-ago quarter to $1.30 billion, which missed the Zacks Consensus Estimate of $1.34 billion.
Key Stats: Patterson Animal Health sales rose 1.8% to $776.1 million, driven by solid contribution from both the Companion and Production animal businesses. Patterson Dental sales fell 6.5% to $518.8 million. The downside came from the decrease in sales of CEREC and digital technology products. The company expects adjusted EPS for full year 2017 in the range of $2.25 to $2.40 per diluted share.
Check back for our full write up on this Patterson Companies earnings report later!
One Simple Trading Idea
Since 1988, the Zacks system has more than doubled the S&P 500 with an average gain of +25% per year. With compounding, rebalancing, and exclusive of fees, it can turn thousands into millions of dollars.
This proven stock-picking system is grounded on a single big idea that can be fortune shaping and life changing. You can apply it to your portfolio starting today.
Learn more >>