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Jul 25, 2020
Patterson Q1 2021 Earnings Report
Patterson Companies reported first quarter GAAP earnings of $0.25 per diluted share and adjusted earnings of $0.33 per diluted share.
Key Takeaways
Patterson Companies reported a decline of 6.2% in consolidated net sales, totaling approximately $1.25 billion for the first quarter of fiscal 2021. Despite challenges due to COVID-19, the company delivered year-over-year adjusted earnings growth of 22%.
GAAP earnings were $0.25 per diluted share; adjusted earnings were $0.33 per diluted share, a 22% increase year-over-year.
Adjusted operating margin increased by 40 bps year-over-year to 3.8% due to cost savings and improved sales.
Dental and Animal Health segments showed recovery with improved sales performance each month of the quarter.
Aggressive cost savings measures taken at the onset of the pandemic, combined with improving sales trends and focused execution, drove strong first quarter performance.
Revenue by Segment
Forward Guidance
Due to the continued uncertainty surrounding the COVID-19 pandemic and its impact on business operations, Patterson is not providing fiscal 2021 financial guidance at this time.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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