Patterson Cos Inc Stock Price, News & Analysis

Patterson Companies, Inc. (NASDAQ: PDCO) has announced its agreement to acquire assets of Relief Services for Veterinary Practitioners and Animal Care Technologies (RSVP and ACT), a Texas-based company. This acquisition aims to bolster Patterson Veterinary's service offerings through innovative solutions, including data extraction, staffing, and training services. The integration of RSVP and ACT is expected to enhance Patterson's value-add platform and align with its strategic goal of driving profitable growth. The deal is projected to close in the third fiscal quarter of FY2023.

Patterson Companies (Nasdaq: PDCO) announced the appointment of Don Zurbay as President and CEO, succeeding Mark Walchirk, who resigned due to a policy violation. Zurbay, previously CFO, has been credited with driving growth in the Dental and Animal Health sectors since joining in 2018. Kevin Barry has been appointed Interim CFO. The company reaffirmed its fiscal 2023 earnings guidance, projecting GAAP earnings between $1.96 and $2.06 per diluted share. The guidance reflects confidence despite potential impacts from inflation and economic slowdown.

On September 13, 2022, Patterson Companies, Inc. (NASDAQ: PDCO) declared a quarterly cash dividend of $0.26 per share.

This dividend will be payable on or about November 4, 2022, to shareholders of record as of October 21, 2022. This decision reflects the company's ongoing commitment to returning value to its shareholders.

Patterson Companies reported first quarter net sales of $1.52 billion, a 5.7% decline year-over-year. GAAP earnings were $0.25 per diluted share, down from $0.35 last year, while adjusted earnings were $0.32 versus $0.43 in the prior year. The Dental segment saw net sales of $557.9 million, with a 0.9% decrease in internal sales, while Animal Health achieved $960.4 million in sales, marking a 5.7% increase. The company affirmed its fiscal 2023 guidance for GAAP earnings between $1.96 to $2.06 per diluted share.

Patterson Companies (Nasdaq: PDCO) is set to hold its fiscal 2023 Q1 earnings conference call on September 1, 2022, at 7:30 a.m. CT. A press release with earnings details will be available before market opening. The conference call can be accessed via the company's investor relations website, and a replay will be available from 10 a.m. CT on the same day until 10 p.m. CT on September 7, 2022. Patterson Companies connects customers in North America and the UK with innovative products and services.

Patterson Companies reported a 4.9% increase in net sales for Q4, totaling $1.64 billion, and 9.9% growth for fiscal 2022, reaching $6.5 billion. GAAP earnings for Q4 were $0.65 per share, while adjusted earnings were $0.71. The company returned $136.1 million to shareholders through dividends and repurchases in fiscal 2022. Fiscal 2023 guidance estimates GAAP earnings between $1.96 to $2.06 per share, despite anticipated macroeconomic challenges.

Patterson Companies (PDCO) has announced its fiscal 2022 fourth quarter and year-end conference call scheduled for June 29, 2022, at 7:30 a.m. CT. Earnings will be released on the same day before the market opens. A live webcast will be accessible via the company’s investor relations website. The replay will be available starting 10 a.m. CT on June 29 through July 6, 2022. Patterson Companies connects dental and animal health customers in North America and the U.K. with innovative products and services.

On June 14, 2022, Patterson Companies (NASDAQ: PDCO) declared a quarterly cash dividend of $0.26 per share. This dividend will be distributed on or about August 5, 2022 to shareholders of record as of the close of business on July 22, 2022. Patterson Companies connects dental and animal health customers in North America and the U.K. with innovative products and services, vying for operational success.

Weave has announced a new partnership with Patterson Dental, integrating its customer communication platform with the Fuse cloud-based dental practice management software. This collaboration aims to enhance patient communication for dental practices nationwide. The integration provides automated features such as data syncing, review requests, and customized messaging, streamlining operations for Fuse users. With Weave, practices can efficiently manage patient interactions while improving customer engagement and operational success.