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Apr 30, 2022
Patterson Q4 2022 Earnings Report
Patterson Companies reported a 4.9 percent increase in fourth quarter net sales and GAAP earnings of $0.65 per diluted share.
Key Takeaways
Patterson Companies reported a strong fourth quarter with net sales of $1.64 billion, a 4.9% increase compared to the same period last year. GAAP earnings were $0.65 per diluted share, and adjusted earnings were $0.71 per diluted share. The company's performance was driven by growth in both Dental and Animal Health segments.
Fourth quarter reported net sales increased 4.9 percent.
Adjusted operating margin expansion during the fourth quarter across both Dental and Animal Health segments.
Achieved fourth quarter GAAP earnings of $0.65 per diluted share; delivered adjusted earnings of $0.71 per diluted share.
Internal sales increased 5.1 percent over the prior year.
Patterson
Patterson
Patterson Revenue by Segment
Revenue by Segment
Dental Revenue
CapyFin.comAnimal Health Revenue
CapyFin.com Forward Guidance
Patterson Companies initiated its fiscal 2023 earnings guidance, which is provided on both a GAAP and non-GAAP adjusted basis.
Positive Outlook
- GAAP earnings are expected to be in the range of $1.96 to $2.06 per diluted share.
- Non-GAAP adjusted earnings are expected to be in the range of $2.25 to $2.35 per diluted share.
- Guidance reflects the strength of our business and competitive positioning.
- Expectations for the North American and international end markets in which we operate.
- Guidance assumes that there are no material adverse developments associated with the pandemic.
Challenges Ahead
- Expect to be affected by inflationary trends.
- Expect to be affected by higher interest rates.
- Expect to be affected by a potential slow-down in the broader economy.
- Beyond macroeconomic and geopolitical uncertainty.
- Deal amortization expenses of approximately $28.5 million ($0.29 per diluted share).
Revenue & Expenses
Visualization of income flow from segment revenue to net income