Patterson Q4 2020 Earnings Report
Key Takeaways
Patterson Companies reported a decrease in consolidated net sales by 10.5% to $1.29 billion due to COVID-19 disruptions, with a net loss of $608.6 million. However, adjusted net income increased by 16.2% to $41.1 million, driven by strong sales momentum early in the quarter and cost-saving measures.
Consolidated net sales decreased by 10.5% to $1.29 billion.
Reported net loss attributable to Patterson Companies, Inc. totaled $608.6 million, or $6.44 per diluted share.
Adjusted net income attributable to Patterson Companies, Inc. increased to $41.1 million, or $0.43 per diluted share.
COVID-19 significantly disrupted end markets, impacting performance in late March and April.
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Patterson Revenue by Segment
Forward Guidance
Given the ongoing disruption of North American and international market conditions and the inability to accurately predict the economic effects of COVID-19 and related government actions, Patterson is not issuing fiscal 2021 earnings guidance at this time.
Revenue & Expenses
Visualization of income flow from segment revenue to net income