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Patterson Companies (PDCO) Q1 Earnings Miss, Revenues Beat

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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 2019 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 26 cents per share. However, earnings missed the Zacks Consensus Estimate of 35 cents. Earnings fell significantly by 40.9% year over year.

Sales: Net sales came in at $1.34 billion, which marginally beat the Zacks Consensus Estimate of $1.31 billion. Revenues rose 2.5% on a year-over-year basis.

Key Stats: Patterson Animal Health sales were $825.2 million, up 6.3% from the year-ago quarter.

Patterson Dental sales were $506.1 million, down 2.5% year over year.

Corporate sales were $5 million, down significantly by 45% on a year-over-year basis.

Major Factors: For 2019 Patterson Companies expects adjusted earnings per share to be within $1.40 to $1.50.

Stock Price: Following the earnings release, share prices inched down 15.6% at $20 in the pre-market trading session.

Check back for our full write up on this Patterson Companies earnings report later!

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