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Patterson Companies (PDCO) Q1 Earnings Beat, Sales Miss

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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.


Patterson Companies, Inc. Price, Consensus and EPS Surprise


Patterson Companies, Inc. Price, Consensus and EPS Surprise | Patterson Companies, Inc. Quote

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!

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