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Oct 28, 2023
Patterson Q2 2024 Earnings Report
Reported a 1.6% increase in net sales and EPS of $0.42 per diluted share.
Key Takeaways
Patterson Companies reported a 1.6% increase in net sales to $1.65 billion and GAAP earnings of $0.42 per diluted share for the second quarter of fiscal year 2024. The company's performance was driven by strong dental consumables growth, offset by lower sales in certain high-tech dental equipment categories. The Animal Health segment benefited from a diverse offering and omnichannel presence.
Second quarter net sales increased 1.6% year-over-year to $1.65 billion.
Internal sales increased 1.0% year-over-year, driven by dental consumables growth of 2.9%.
GAAP earnings were $0.42 per diluted share, and adjusted earnings were $0.50 per diluted share.
Returned $85.9 million to shareholders through dividends and share repurchases.
Revenue by Segment
Forward Guidance
Patterson Companies revised its fiscal 2024 earnings guidance, expecting GAAP earnings in the range of $2.04 to $2.14 per diluted share and non-GAAP adjusted earnings in the range of $2.35 to $2.45 per diluted share.
Positive Outlook
- Strength of our business
- Competitive positioning
- Expectations for the North American and international end markets
- Unaffected by material adverse developments associated with wide-spread public health concerns.
Challenges Ahead
- Ongoing challenges of inflationary trends
- Higher interest rates
- Additional slow-down in the broader economy
- Macroeconomic uncertainty
- Geopolitical uncertainty
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
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