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 #5 (Strong Sell) but that could change following its fourth-quarter fiscal 2018 earnings report which has just released. You can see the complete list of today’s Zacks #1 (Strong Buy) Rank 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 30 cents, which plunged by 56.5% from the year-ago quarter. However, earnings per share came in line with the Zacks Consensus Estimate.
Sales: Net sales came in at $1.4 billion, which marginally missed the Zacks Consensus Estimate of $1.43 billion. Revenues fell by 3.1% on a year-over-year basis.
Key Stats: Patterson Animal Health sales rose 2.5% on a year-over-year basis, to $848 million. However, sales in the segment rose 2.2% at constant currency (cc).
Patterson Dental sales were up 0.4% at cc to $545.8 million year over year. However, sales in the segment fell by 10.1% on a reported basis.
Major Factors: Patterson Companies issued 2019 earnings guidance.
Adjusted earnings per share are expected between $1.73 to $1.83 per diluted share.
Stock Price: Shares of Patterson Companies have declined roughly 54.5% in a year’s time, while the industry has gained 7%. Following the earnings release, share prices inched up 2.1% at $23 in the pre-market trading session.
Check back for our full write up on this Patterson Companies earnings report later!
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