Wednesday, June 29, 2022 – Patterson Companies (PDCO) reported upside earnings and revenues today.
Wall Street earnings per share (EPS) projections for Patterson Companies were at $0.55. The company beat those estimates with an EPS of $0.71. The earnings per share of $0.71 (which represents a -29% EPS surprise) led to the company’s profits rising 87% compared to last year when the firm reported an EPS of $0.38. The increase in Patterson Companies’s annual growth rate represents how the business is performing well amid recent economic conditions.
Analyst projections for Patterson Companies revenue came in at a consensus of $1.6 billion. Fourth-Quarter revenues surpassed estimates for $1.6 billion by $49 million (3%). The company achieved 5% growth year-over-year compared to the firm’s revenue of $1.6 billion from the year-ago quarter. The higher earnings growth relative to revenue signals Patterson Companies has improved its profit margin.
The stock is up 9.05% to $30.49 after the report.
Patterson Companies’s earnings expanded faster than revenues, signaling widening profit margins.
The average recommendation from Wall Street analysts was a Hold which may get revised based on this new data.
Trading in the five days leading up to the report earned Patterson Companies a Bearish Sentiment Rank from InvestorsObserver.
Patterson Companies has been a strong performer over the past few months, garnering a high Long-Term Technical Rank by InvestorsObserver of 85, putting Patterson Companies in the top 25% of stocks. The firm was recently trading at a 52-week high of $35.29 on April 14, 2022 and set a 52-week low on December 20, 2021 at $26.51.
Patterson 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, 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 an acquisition of Animal Health International in 2015. Patterson also has a presence in the U.K. animal health market.
