PATTERSON COMPANIES Reports FY2024 Q1 Earnings for Period Ended July 31 2023
September 6, 2023
🌥️Earnings Overview
On August 30 2023, PATTERSON COMPANIES ($NASDAQ:PDCO) reported their financial results for the first quarter of fiscal year 2024, which ended on July 31 2023. Revenue for Q1 FY2024 reached USD 1576.7 million, an increase of 3.5% compared to the same period in the previous year. Net income rose 27.0% year-over-year to USD 31.2 million.
Price History
On Wednesday, PATTERSON COMPANIES reported their FY2024 Q1 earnings for the period ended July 31 2023. The closing stock price for the day was $30.7, a drop of 7.8% from the prior closing price of 33.3. The stock opened at $29.7 and dropped throughout the day.
Overall, PATTERSON COMPANIES reported mixed financial results for the quarter ending July 31 2023, compared to the same period in the previous year. While total revenue and operating profit were slightly down, net income and earnings-per-share were significantly lower due to the drop in stock price. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Patterson Companies. More…
| Total Revenues | Net Income | Net Margin |
| 6.52k | 214.2 | 2.8% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Patterson Companies. More…
| Operations | Investing | Financing |
| -705.68 | 887.03 | -223.04 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Patterson Companies. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 2.88k | 1.77k | 11.61 |
Key Ratios Snapshot
Some of the financial key ratios for Patterson Companies are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 6.5% | 31.0% | 4.9% |
| FCF Margin | ROE | ROA |
| -11.8% | 17.8% | 6.9% |
Analysis
GoodWhale has conducted an analysis of PATTERSON COMPANIES‘s wellbeing. Our Star Chart showed that PATTERSON COMPANIES had an intermediate health score of 4 out of 10, likely to safely ride out any crisis without the risk of bankruptcy. We classified PATTERSON COMPANIES as a ‘rhino’ – a type of company that has achieved moderate revenue or earnings growth. Due to its strong dividend, medium asset, profitability and weak growth, PATTERSON COMPANIES may be interesting to investors who are looking for a higher yield on their investments. Furthermore, investors who value stability and predictability of cashflows should also look to invest in this type of company as it has very manageable debt and is likely to weather any economic crisis. More…
Peers
The company’s competitors include PT Soho Global Health Tbk, BioGaia AB, and ForU Holdings Inc.
– PT Soho Global Health Tbk ($IDX:SOHO)
Soho Global Health Tbk is a leading healthcare company in Indonesia with a market cap of 7.04T as of 2022. The company has a strong focus on providing quality healthcare services to the Indonesian people. It has a wide range of products and services including hospitals, clinics, pharmacies, and medical equipment. The company has a strong focus on research and development to bring new and innovative products to the market. The company has a strong financial position with a return on equity of 15.28%.
– BioGaia AB ($LTS:0GTN)
Biogaia AB is a Swedish biotechnology company that develops, manufactures, and markets probiotic products for human and animal health. The company focuses on the development of lactic acid bacteria for the prevention and treatment of gastrointestinal diseases. Its products include Probio-Kid, a probiotic supplement for children; Probio-Stick, a probiotic supplement for adults; and BioGaia Protectis, a probiotic infant formula. Biogaia AB was founded in 1990 and is headquartered in Stockholm, Sweden.
– ForU Holdings Inc ($OTCPK:FORU)
Founded in 2013, U.S.-based ForU Holdings Inc is a provider of solar panel installation services. As of 2022, the company had a market capitalization of $3.61 million and a return on equity of 65.19%. The company’s solar panel installation services are available in the United States, Canada, and the United Kingdom.
Summary
PATTERSON COMPANIES reported its fiscal year 2023 Q1 earnings results on August 30, 2023 for the period ending July 31, 2023. With a revenue of USD 1576.7 million, the company experienced a 3.5% increase year-over-year. Net income for the quarter also increased to USD 31.2 million, a 27% increase compared to the same period last year.
Despite the positive financial report, investors reacted negatively to the news, and the stock price declined the same day. Overall, the financial report suggests that PATTERSON COMPANIES is well placed in terms of growth and profitability, which should bode well for long term investors.
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