Patterson Q2 2022 Earnings Report
Key Takeaways
Patterson Companies reported a 6.2% increase in net sales to $1.65 billion and GAAP earnings of $0.49 per diluted share for the second quarter of fiscal year 2022. The company has increased its fiscal year 2022 GAAP earnings guidance range to $1.69 to $1.79 per diluted share and adjusted earnings guidance range to $2.00 to $2.10 per diluted share.
Net sales increased 6.2 percent year-over-year to $1.65 billion, and internal sales increased 8.3 percent.
Dental segment internal sales decreased 2.0 percent year-over-year but increased 9.8 percent compared to the pre-pandemic period of the second quarter of fiscal 2020.
Animal Health segment internal sales increased 16.2 percent year-over-year and increased 24.3 percent compared to the pre-pandemic period of the second quarter of fiscal 2020.
Delivered second-quarter GAAP earnings of $0.49 per diluted share and adjusted earnings of $0.58 per diluted share.
Patterson
Patterson
Patterson Revenue by Segment
Forward Guidance
Patterson Companies updated its fiscal 2022 earnings guidance, expecting GAAP earnings to be in the range of $1.69 to $1.79 per diluted share and non-GAAP adjusted earnings to be in the range of $2.00 to $2.10 per diluted share.
Positive Outlook
- GAAP earnings are expected to be in the range of $1.69 to $1.79 per diluted share, compared to prior guidance of $1.64 to $1.74 per diluted share.
- Non-GAAP adjusted earnings are expected to be in the range of $2.00 to $2.10 per diluted share, compared to prior guidance of $1.95 to $2.05 per diluted share.
Revenue & Expenses
Visualization of income flow from segment revenue to net income