Headquartered in St. Paul, MN, Patterson Companies Inc. (NASDAQ:PDCO) 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 second-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 51 cents, which fell from 56 cents in the year-ago quarter. Furthermore, earnings came below the Zacks Consensus Estimate of 54 cents.
Sales: Net sales fell 2.3% from the year-ago quarter to $1.39 billion, which also missed the Zacks Consensus Estimate of $1. 42 billion. However, adjusting for the effects of foreign currency exchange, sales declined 2.8% on a year-over-year basis.
Key Stats:Patterson Animal Health sales rose 1.4% at constant currency (cc) to $823.6 million, driven by solid contribution from Production animal businesses.
Patterson Dental sales fell 8.4% at cc to $553.6 million. The downside came from the decrease in sales of CEREC and digital technology products.
Coming to guidance, the company expects adjusted earnings per share for fiscal 2018 in the range of $2.00 to $2.10 per share, way below the previously issued band 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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Patterson Companies, Inc. (PDCO): Free Stock Analysis Report
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