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Patterson Companies (PDCO) Q1 Earnings Miss, Revenues Beat

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 #4 (Sell) but that could change following its first-quarter fiscal 2019 earnings report which has just released. You can see the complete list of today's Zacks #1 (Strong Buy) Rank stocks here. We have highlighted some of the key details from the just-released announcement below:

Earnings: Patterson Companies posted adjusted earnings from continuing operations of 26 cents per share. However, earnings missed the Zacks Consensus Estimate of 35 cents. Earnings fell significantly by 40.9% year over year.

Sales: Net sales came in at $1.34 billion, which marginally beat the Zacks Consensus Estimate of $1.31 billion. Revenues rose 2.5% on a year-over-year basis.

Patterson Companies, Inc. Price and EPS Surprise

Patterson Companies, Inc. Price and EPS Surprise | Patterson Companies, Inc. Quote

Key Stats: Patterson Animal Health sales were $825.2 million, up 6.3% from the year-ago quarter.

Patterson Dental sales were $506.1 million, down 2.5% year over year.

Corporate sales were $5 million, down significantly by 45% on a year-over-year basis.

Major Factors: For 2019 Patterson Companies expects adjusted earnings per share to be within $1.40 to $1.50.

Stock Price: Following the earnings release, share prices inched down 15.6% at $20 in the pre-market trading session.

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

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Patterson Companies, Inc. (PDCO): Free Stock Analysis Report

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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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