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Patterson Companies (PDCO) Misses on Q2 Earnings, Sales

Headquartered in St. Paul, MN, Patterson Companies, Inc. PDCO is one of the leading distributors of dental and companion-pet veterinarian supplies in the United States and Canada.

Currently, Patterson Companies has a Zacks Rank #2 (Buy) but that could change following its second-quarter fiscal 2016 earnings report which has just released. We have highlighted some of the key details from the just-released announcement below:
 
Earnings: Patterson Companies posted adjusted EPS from continuing operations of 56 cents, which improved 27.3% from the year-ago quarter but missed the Zacks Consensus Estimate of 60 cents.
 
Sales: Net sales from continuing operations surged 42% from the year-ago quarter to $1.39 billion, but marginally missed the Zacks Consensus Estimate of $1.40 billion.
 
Key Stats: Patterson Dental sales increased 1.5% to $601.3 million, while Patterson Animal Health sales increased more than 100% to $774.4 million, driven by solid contribution from the recently acquired Animal Health International,
 
Major Factors: Share repurchase and dividend continues to be a major focus for the company. Management also reiterated its adjusted EPS guidance for fiscal 2016 in the range of $2.40-$2.50.
 
Stock Price: Following the earnings release, share prices did not show any movement in the pre-market trading session.
 
Check back later for our full write up on this Patterson Companies earnings report later!

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Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
 
PATTERSON COS (PDCO): Free Stock Analysis Report
 
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