PATTERSON COMPANIES Reports Q2 Earnings Results for FY2024 on October 31 2023

🌥️Earnings Overview

PATTERSON COMPANIES ($NASDAQ:PDCO) reported their fiscal year 2024 second quarter (Q2) earnings results for the period ending November 29 2023 on October 31 2023. Total revenue improved 1.6% year-over-year to USD 1652.8 million, however net income decreased 26.1% to USD 40.0 million.

Price History

On Wednesday, October 31, 2023, PATTERSON COMPANIES reported their second quarter earnings results for fiscal year 2024. This significant drop in the company’s stock comes as investors feel uneasy about the results of the second quarter. It is worth noting that in the three weeks leading up to the Q2 earnings announcement, PATTERSON COMPANIES was already experiencing a slow decline in its stock prices.

This further intensified after the release of the financial report, as investors were not convinced with the numbers presented. As the company’s stock continues to struggle, investors are hoping that PATTERSON COMPANIES will be able to turn their fortunes around in the upcoming quarters. Live Quote…

About the Company

Income Snapshot

Below shows the total revenue, net income and net margin for Patterson Companies. More…

Cash Flow Snapshot

Below shows the cash from operations, investing and financing for Patterson Companies. More…

Balance Sheet Snapshot

Below shows the total assets, liabilities and book value per share for Patterson Companies. More…

Key Ratios Snapshot

Some of the financial key ratios for Patterson Companies are shown below. More…

Analysis

At GoodWhale, we have conducted an analysis of PATTERSON COMPANIES‘s fundamentals. According to our Star Chart, PATTERSON COMPANIES is strong in dividend, medium in asset, profitability and weak in growth. We classify them as a ‘rhino’, a type of company that has achieved moderate revenue or earnings growth. Given these fundamentals, we believe that investors who are looking for stability and consistent returns may be interested in this company. PATTERSON COMPANIES has an intermediate health score of 4/10 with regard to its cashflows and debt, indicating that they may be able to safely ride out any crisis without the risk of bankruptcy. 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

The stock price reacted accordingly, dropping on the day of the announcement. This could suggest that investors may be concerned about Patterson’s profitability and future prospects, so they should monitor the company’s performance closely.