Patterson Companies Inc. Up 1.2% To $28.78 After Earnings Beat

Patterson Companies Inc. (PDCO) said before open Thursday that it earned $0.63 per share in quarter two 2023. The company reported earnings on an adjusted basis, so it may not be directly comparable to analyst estimates or prior periods.

On the revenue line, the company reported $1.6 billion, missing estimates by $44 million.

In the same quarter a year ago, the company earned $0.58 per share on revenue of $1.6 billion.

The stock is up 1.2% to $28.78 after the report.

Despite Patterson Companies Inc. reporting a decline in revenues, earnings increased signaling a rise in profit margins.

The average recommendation from Wall Street analysts was a Buy which may get revised based on this new data.

InvestorsObserver gives the stock a Bullish Sentiment score at the moment based on recent trading.

Prior to the report, InvestorsObserver gave the stock an overall score of 57. Meanwhile, the average Wall Street analyst rated the stock a Buy.

Patterson Companies Inc is a leading dental distributor and wholesaler of consumable products and equipment operating through two business segments, Patterson Dental and Patterson Animal Health. The firm offers dental and veterinary practice management products, including office software products, and technical, financial, and educational services, primarily to two highly fragmented market segments throughout the U.S. and Canada. The company began as a dental distributor in 1877 and expanded to become a major supplier of animal health products to vets and production companies through the acquisition of Animal Health International in 2015. Patterson also has a presence in the U.K. animal health market.