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Jan 27, 2024
Patterson Q3 2024 Earnings Report
Patterson navigated a dynamic environment to deliver sales growth and gross margin expansion.
Key Takeaways
Patterson Companies reported a 1.0% increase in net sales to $1.62 billion. GAAP earnings were $0.52 per diluted share, and adjusted earnings were $0.59 per diluted share. The company returned $148.8 million to shareholders through dividends and share repurchases and revised fiscal 2024 GAAP earnings guidance to $1.99 to $2.04 per diluted share and adjusted earnings guidance to $2.30 to $2.35 per diluted share.
Net sales increased 1.0 percent year-over-year to $1.62 billion.
Internal sales increased 0.3 percent year-over-year, driven by dental consumables growth of 6.3 percent.
GAAP earnings of $0.52 per diluted share and adjusted earnings of $0.59 per diluted share were delivered.
$148.8 million was returned to shareholders through dividends and share repurchases.
Revenue by Segment
Forward Guidance
Patterson Companies revised its fiscal 2024 earnings guidance.
Positive Outlook
- GAAP earnings are expected to be in the range of $1.99 to $2.04 per diluted share.
- Non-GAAP adjusted earnings are expected to be in the range of $2.30 to $2.35 per diluted share.
- Guidance reflects the strength of our business and competitive positioning.
- Guidance reflects our expectations for the North American and international end markets in which we operate.
- Guidance assumes that there are no material adverse developments associated with wide-spread public health concerns.
Challenges Ahead
- Expectations to be affected by the ongoing challenges of inflationary trends and higher interest rates.
- Expectations to be affected by an additional slow-down in the broader economy.
- Guidance impacted by macroeconomic and 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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