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What's in Store for Patterson Companies' (PDCO) Q4 Earnings?
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Patterson Companies, Inc. (PDCO - Free Report) is scheduled to release fourth-quarter fiscal 2020 results on Jun 24, before the opening bell. The company delivered a positive earnings surprise of 27% in the last reported quarter.
Q4 Estimates
For the quarter to be reported, the Zacks Consensus Estimate for the company’s revenues is pegged at $1.26 billion, suggesting a decline of 12.1% from the year-ago reported number. The same for adjusted earnings per share (EPS) stands at 17 cents, indicating a decline of 54.1% from the prior-year quarter.
Factors to Note
Being one of the leading distributors of consumable products and dental technology, Patterson Companies’ Dental arm has been one of the key contributors to its top line.
The company might have witnessed internal sales growth at its Dental segment in the fiscal fourth quarter driven by sustained double-digit growth in equipment sales, continued improving trends in consumables and robust demand for value-added services.
Further, robust demand for the segment’s products like x-ray film, restorative materials, sterilization products, hand instruments and advanced dental equipment is likely to have driven revenues in the quarter to be reported.
Additionally, the company’s focused and disciplined approach to boost execution and fortify its value proposition may have contributed to the top line and margin expansion in the fiscal fourth quarter.
With regard to Animal Health business, the company is likely to have displayed sales growth driven by consistent revenue growth in its companion animal business in the to-be-reported quarter. Also, despite challenges in the beef and dairy end markets, the company might have experienced improving trends in its production business.
During fiscal third-quarter 2020, Patterson Companies signed and extended its multiyear agreement with Pacific Dental Services, which is one of the premier Dental Support Organizations (DSO) in the United States. This, in turn, is anticipated to have positively impacted the company’s performance in the fiscal fourth quarter.
However, intense competition across most of the product lines might have weighed on the company’s overall performance.
Also, it is important to note here that with the coronavirus outbreak intensifying around late February, elective procedures and other non-emergency healthcare activities might have taken a hit. Consequently, this might have affected the company’s performance in the to-be-reported quarter.
What Does Our Model Say?
Per our proven model, the combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the chances of an earnings beat. This is not the case here as you will see.
Earnings ESP: Patterson Companies has an Earnings ESP of +22.09%. You can uncover the best stocks to buy or sell before they're reported with our Earnings ESP Filter.
Zacks Rank: The company currently carries a Zacks Rank #4 (Sell).
Key Picks
Some better-ranked stocks in the broader medical space that have already announced their quarterly results include Laboratory Corporation of America Holdings (LH - Free Report) , Quest Diagnostics Incorporated (DGX - Free Report) and Eli Lilly and Company (LLY - Free Report) .
LabCorp reported first-quarter 2020 adjusted EPS of $2.37, beating the Zacks Consensus Estimate by 12.9%. Revenues of $2.82 billion surpassed the consensus mark by 3.9%.The company carries a Zacks Rank #2. You can see the complete list of today’s Zacks #1 Rank stocks here.
Quest Diagnostics reported first-quarter 2020 adjusted EPS of 94 cents, surpassing the Zacks Consensus Estimate by 13.3%. Revenues of $1.82 billion outpaced the consensus mark by 4.6%. Currently, the company holds a Zacks Rank of 2.
Eli Lilly reported first-quarter 2020 EPS of $1.75, outpacing the Zacks Consensus Estimate by 12.9%. Revenues of $145.3 million surpassed the consensus estimate by 6.3%. The company currently sports a Zacks Rank #1.
These Stocks Are Poised to Soar Past the Pandemic
The COVID-19 outbreak has shifted consumer behavior dramatically, and a handful of high-tech companies have stepped up to keep America running. Right now, investors in these companies have a shot at serious profits. For example, Zoom jumped 108.5% in less than 4 months while most other stocks were sinking.
Our research shows that 5 cutting-edge stocks could skyrocket from the exponential increase in demand for “stay at home” technologies. This could be one of the biggest buying opportunities of this decade, especially for those who get in early.
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What's in Store for Patterson Companies' (PDCO) Q4 Earnings?
Patterson Companies, Inc. (PDCO - Free Report) is scheduled to release fourth-quarter fiscal 2020 results on Jun 24, before the opening bell. The company delivered a positive earnings surprise of 27% in the last reported quarter.
Q4 Estimates
For the quarter to be reported, the Zacks Consensus Estimate for the company’s revenues is pegged at $1.26 billion, suggesting a decline of 12.1% from the year-ago reported number. The same for adjusted earnings per share (EPS) stands at 17 cents, indicating a decline of 54.1% from the prior-year quarter.
Factors to Note
Being one of the leading distributors of consumable products and dental technology, Patterson Companies’ Dental arm has been one of the key contributors to its top line.
The company might have witnessed internal sales growth at its Dental segment in the fiscal fourth quarter driven by sustained double-digit growth in equipment sales, continued improving trends in consumables and robust demand for value-added services.
Further, robust demand for the segment’s products like x-ray film, restorative materials, sterilization products, hand instruments and advanced dental equipment is likely to have driven revenues in the quarter to be reported.
Patterson Companies, Inc. Price and EPS Surprise
Patterson Companies, Inc. price-eps-surprise | Patterson Companies, Inc. Quote
Additionally, the company’s focused and disciplined approach to boost execution and fortify its value proposition may have contributed to the top line and margin expansion in the fiscal fourth quarter.
With regard to Animal Health business, the company is likely to have displayed sales growth driven by consistent revenue growth in its companion animal business in the to-be-reported quarter. Also, despite challenges in the beef and dairy end markets, the company might have experienced improving trends in its production business.
During fiscal third-quarter 2020, Patterson Companies signed and extended its multiyear agreement with Pacific Dental Services, which is one of the premier Dental Support Organizations (DSO) in the United States. This, in turn, is anticipated to have positively impacted the company’s performance in the fiscal fourth quarter.
However, intense competition across most of the product lines might have weighed on the company’s overall performance.
Also, it is important to note here that with the coronavirus outbreak intensifying around late February, elective procedures and other non-emergency healthcare activities might have taken a hit. Consequently, this might have affected the company’s performance in the to-be-reported quarter.
What Does Our Model Say?
Per our proven model, the combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the chances of an earnings beat. This is not the case here as you will see.
Earnings ESP: Patterson Companies has an Earnings ESP of +22.09%. You can uncover the best stocks to buy or sell before they're reported with our Earnings ESP Filter.
Zacks Rank: The company currently carries a Zacks Rank #4 (Sell).
Key Picks
Some better-ranked stocks in the broader medical space that have already announced their quarterly results include Laboratory Corporation of America Holdings (LH - Free Report) , Quest Diagnostics Incorporated (DGX - Free Report) and Eli Lilly and Company (LLY - Free Report) .
LabCorp reported first-quarter 2020 adjusted EPS of $2.37, beating the Zacks Consensus Estimate by 12.9%. Revenues of $2.82 billion surpassed the consensus mark by 3.9%.The company carries a Zacks Rank #2. You can see the complete list of today’s Zacks #1 Rank stocks here.
Quest Diagnostics reported first-quarter 2020 adjusted EPS of 94 cents, surpassing the Zacks Consensus Estimate by 13.3%. Revenues of $1.82 billion outpaced the consensus mark by 4.6%. Currently, the company holds a Zacks Rank of 2.
Eli Lilly reported first-quarter 2020 EPS of $1.75, outpacing the Zacks Consensus Estimate by 12.9%. Revenues of $145.3 million surpassed the consensus estimate by 6.3%. The company currently sports a Zacks Rank #1.
These Stocks Are Poised to Soar Past the Pandemic
The COVID-19 outbreak has shifted consumer behavior dramatically, and a handful of high-tech companies have stepped up to keep America running. Right now, investors in these companies have a shot at serious profits. For example, Zoom jumped 108.5% in less than 4 months while most other stocks were sinking.
Our research shows that 5 cutting-edge stocks could skyrocket from the exponential increase in demand for “stay at home” technologies. This could be one of the biggest buying opportunities of this decade, especially for those who get in early.
See the 5 high-tech stocks now>>