Patterson Cos. Q2 Profit Rises, Tops Estimates; Reaffirms FY23 Outlook
(RTTNews) - Patterson Cos. Inc. (PDCO) reported Thursday that second-quarter net income attributable to the company grew to $54.07 million or $0.55 per share from $48.33 million or $0.49 per share in the prior-year quarter.
Excluding items, adjusted net income attributable to Patterson was $0.63 per share, compared to $0.58 per share in the year-ago quarter.
Consolidated net sales for the quarter declined 1.4 percent to $1.63 billion from $1.65 billion in the same quarter last year.
On average, ten analysts polled by Thomson Reuters expected the company to report earnings of $0.57 per share on sales of $1.67 billion for the year. Analysts' estimates typically exclude special items.
Internal sales, which are adjusted for the effects of currency translation, increased 0.7 percent.
Looking ahead to fiscal 2023, the company continues to project earnings in a range of $1.96 to $2.06 per share and adjusted earnings in a range of $2.25 to $2.35 per share. The Street is looking for earnings of $2.26 per share for the year.
For more earnings news, earnings calendar, and earnings for stocks, visit rttnews.com
Patterson Trims FY24 Outlook - Update
Patterson Reaffirms FY24 Outlook - Update
Patterson Cos. Confirms Kevin Barry As CFO; Promotes Kevin Pohlman To COO
Patterson Cos. Promotes CFO Don Zurbay To Replace Mark Walchirk As President And CEO
European Shares Drift Lower Ahead Of US Inflation Reading
Antipodean Currencies Rise As Traders Await U.S. PCE Inflation Data
Asian Shares Mixed Ahead Of US PCE Inflation Data
