Welcome to our dedicated page for Patterson Cos news (Ticker: PDCO), a resource for investors and traders seeking the latest updates and insights on Patterson Cos stock.
Patterson Companies, Inc. (Nasdaq: PDCO) is a specialty distributor focused on the dental and animal health markets, connecting customers in North America and the U.K. to products, technologies, services and business solutions. The PDCO news feed highlights company announcements, financial updates and corporate developments that shape the outlook for this health care distributor.
News about Patterson Companies includes earnings releases that discuss segment performance in dental and animal health, internal sales trends and value-added services. These updates provide detail on how the dental and animal health segments are performing and how factors such as market conditions or external events affect the business. Company communications also cover strategic reviews, guidance updates and capital allocation decisions.
Corporate transaction news is a key theme for PDCO. Patterson has announced a definitive agreement to be acquired by Patient Square Capital, and subsequent updates describe the progress of this transaction, including the expiration of a go-shop period and shareholder approval of the acquisition. Index provider announcements also note that Patterson will be removed from the S&P SmallCap 600 index in connection with this transaction.
The PDCO news stream features information on strategic relationships and technology initiatives, such as Patterson Dental’s extended relationship with PDS Health and integrations between Patterson Dental’s practice management software and third-party platforms. For investors and observers following Patterson Companies, this news page brings together developments on its operations, financial performance and the planned transition from a public company to private ownership under Patient Square Capital.
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On March 14, 2023, Patterson Companies, Inc. (NASDAQ: PDCO) announced a quarterly cash dividend of $0.26 per share. This dividend will be payable on or about May 5, 2023, to shareholders of record as of the close of business on April 21, 2023. The company connects dental and animal health customers in North America and the U.K. with products, technologies, and services that promote operational success. Their expertise and comprehensive distribution network enhance customer service and support.
Patterson Companies reported a 0.3% year-over-year increase in net sales for Q3 fiscal 2023, totaling $1.6 billion. Internal sales rose 1.8%, with adjusted earnings of $0.62 per diluted share, up 13% from the prior year. The company narrowed its fiscal 2023 GAAP earnings guidance to $1.96-$2.01 per share, and adjusted earnings guidance to $2.25-$2.30 per share. The Dental segment saw a 3.8% decline in internal sales, while the Animal Health segment experienced a 4.6% growth. Free cash flow declined by $70.4 million compared to the previous year, attributed to increased working capital. The firm returned $91 million to shareholders in dividends and buybacks.
Patterson Companies (Nasdaq: PDCO) will host its fiscal 2023 third-quarter earnings conference call on Thursday, March 2, 2023, at 7:30 a.m. CT (8:30 a.m. ET). The earnings release will be published that morning before the market opens.
Investors can access the live webcast on the investor relations section of Patterson's website. A replay will be available from 10 a.m. CT on March 2 to 10 p.m. CT on March 9, 2023, via a dedicated dial-in number.
Patterson Companies (NASDAQ: PDCO) has completed the acquisition of Relief Services for Veterinary Practitioners and Animal Care Technologies, enhancing its offerings in veterinary solutions. The Texas-based companies specialize in data extraction, staffing, and video-based training services. The integration aims to boost Patterson Veterinary's capabilities while leveraging the expertise of the acquired teams. This strategic move is expected to strengthen Patterson's operational success in the veterinary sector.
Patterson Companies (Nasdaq: PDCO) announces key leadership changes to enhance its strategic execution. Kevin Barry, formerly Interim CFO, is now the Chief Financial Officer, while Kevin Pohlman, previously President of Patterson Animal Health, has been appointed Chief Operating Officer. CEO Don Zurbay expressed confidence that these appointments will drive long-term shareholder value and improve operational efficiency. Barry brings extensive financial expertise, and Pohlman is recognized for his performance improvement skills.
On December 13, 2022, Patterson Companies (PDCO) announced a quarterly cash dividend of $0.26 per share. The dividend is set to be paid on or about February 3, 2023, to shareholders of record by January 20, 2023. This payment reflects Patterson's continued commitment to returning value to shareholders.
Patterson Companies specializes in connecting dental and animal health customers to innovative products and services across North America and the UK.
Patterson Companies, Inc. (Nasdaq: PDCO) has completed the acquisition of substantially all assets of Dairy Tech, Inc. This strategic move aims to enhance Patterson Animal Health’s offerings and integrate Dairy Tech’s employees into the team. Steve Cunningham, president of Patterson’s Production Animal segment, expressed enthusiasm about the acquisition and its potential to maintain exceptional customer service for Dairy Tech’s clients. Financial terms of the deal were not disclosed.
Patterson Companies reported net sales of $1.63 billion for Q2 fiscal 2023, a 1.4% decline year-over-year. However, adjusted operating margins improved across both Dental and Animal Health segments. The company achieved a GAAP earnings of $0.55 per diluted share, up from $0.49 a year earlier, and adjusted earnings of $0.63, a 9% increase. Despite external challenges, Patterson reaffirmed its fiscal 2023 guidance, projecting GAAP earnings between $1.96 and $2.06 per share. The report indicates internal sales growth in equipment, though consumables faced declines.
Patterson Companies (Nasdaq: PDCO) will hold its fiscal 2023 second-quarter earnings conference call on December 1, 2022, at 7:30 a.m. CT. The earnings release is set for the same morning before market open. Interested parties can access the live webcast on the company’s investor relations website. A replay will be available later that day through December 8, 2022. Patterson Companies connects dental and animal health customers in North America and the U.K. with a range of innovative solutions for operational success.