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Patterson Companies (PDCO) Misses on Q2 Earnings, Sales

Headquartered in St. Paul, MN, Patterson Companies, Inc.PDCO is one of the leading distributors of dental and companion-pet veterinarian supplies in the United States and Canada.

Currently, Patterson Companies has a Zacks Rank #2 (Buy) but that could change following its second-quarter fiscal 2016 earnings report which has just released. We have highlighted some of the key details from the just-released announcement below:

Earnings : Patterson Companies posted adjusted EPS from continuing operations of 56 cents, which improved 27.3% from the year-ago quarter but missed the Zacks Consensus Estimate of 60 cents.

Sales : Net sales from continuing operations surged 42% from the year-ago quarter to $1.39 billion, but marginally missed the Zacks Consensus Estimate of $1.40 billion.

Key Stats: Patterson Dental sales increased 1.5% to $601.3 million, while Patterson Animal Health sales increased more than 100% to $774.4 million, driven by solid contribution from the recently acquired Animal Health International,

Major Factors : Share repurchase and dividend continues to be a major focus for the company. Management also reiterated its adjusted EPS guidance for fiscal 2016 in the range of $2.40-$2.50.

Stock Price : Following the earnings release, share prices did not show any movement in the pre-market trading session.

Check back later for our full write up on this Patterson Companies earnings report later!

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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