Patterson Companies Misses Earnings and Revenue Expectations
December 3, 2023
🌧️Trending News
Patterson Companies ($NASDAQ:PDCO), Inc. recently reported its second quarter earnings and revenue, both of which fell short of analyst expectations.
Additionally, Patterson reported total revenue of $1.65B, which was $50M lower than analysts’ projections. Patterson Companies, Inc. is a health care solutions provider that distributes medical, dental, and veterinary supplies throughout the United States and internationally. The company also provides technical services related to the distribution and installation of medical technology products for health care providers. With extensive offerings ranging from medical supplies to imaging technologies, Patterson serves as a one-stop shop for many health care providers seeking to increase their efficiency and patient care delivery.
Earnings
In the earning report of FY2024 Q1 ending July 31 2021, PATTERSON COMPANIES reported a total revenue of 1614.88M USD and a net income of 34.0M USD. While compared to the previous year, there was a 6.0% increase in total revenue and a 38.3% increase in net income. However, the total revenue of PATTERSON COMPANIES has dropped from 1614.88M USD to 1576.74M USD in the last 3 years. This indicates that the company has been struggling financially and has failed to meet its expectations.
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 |
| 6.55k | 200.09 | 2.7% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Patterson Companies. More…
| Operations | Investing | Financing |
| -719.97 | 908.58 | -217.17 |
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 |
| 2.89k | 1.83k | 11 |
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 |
| 5.7% | 8.5% | 4.6% |
| FCF Margin | ROE | ROA |
| -12.1% | 17.5% | 6.6% |
Share Price
PATTERSON COMPANIES, a leading dental and animal health products distributor, recently released its earrings and revenue results for the first quarter of 2021 that missed expectations. On Wednesday, the company’s stock opened at $28.0 and closed at $26.0, a plunge of 17.2% from the previous closing price of $31.4. The company cited several factors for the lackluster performance, including depressed demand and disruption in its supply chain due to the pandemic.
The company said it is expecting a slow recovery in the next few quarters as it continues to grapple with the impact of the pandemic. Despite the weak financials, PATTERSON COMPANIES is optimistic about its long-term prospects and believes that its strategic investments will help it navigate through this challenging period. Live Quote…
Analysis
We have conducted an in-depth analysis of the fundamentals of PATTERSON COMPANIES, and based on our Star Chart PATTERSON COMPANIES is classified as a ‘rhino’, meaning that the company has achieved moderate revenue or earnings growth. As such, investors who are looking for steady income such as dividend yield may be interested in this company. Additionally, PATTERSON COMPANIES is strong in dividend, medium in asset, profitability and weak in growth. With regards to its financial health, PATTERSON COMPANIES has an intermediate health score of 4/10, signifying that while there are certain risks in terms of its cashflows and debt, the company is likely to pay off debt and fund future operations. More…
Peers
The company’s competitors include PT Soho Global Health Tbk, BioGaia AB, and ForU Holdings Inc.
– PT Soho Global Health Tbk ($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 company’s stock price dropped in response to the news. Investors will want to pay close attention to future reports and overall developments within Patterson Companies Inc. to determine if this is an isolated incident or part of a larger trend. Additionally, Patterson Companies’ competitors should be monitored for how their financial performance compares and how they are responding to the pandemic. In-depth analysis is needed to determine whether Patterson Companies is a good investment opportunity going forward.
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