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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