We could not find any results for:
Make sure your spelling is correct or try broadening your search.
Register for real-time alerts, custom portfolio, and market movers
| Share Name | Share Symbol | Market | Type |
|---|---|---|---|
| Patterson Companies Inc | NASDAQ:PDCO | NASDAQ | Common Stock |
| Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.02 | 0.06% | 30.90 | 30.60 | 31.18 | 30.92 | 30.88 | 30.90 | 730,689 | 01:00:00 |
From Jan 2024 to Jan 2025
Patterson Companies, Inc. (Nasdaq: PDCO) today reported operating results for its fiscal 2024 fourth quarter ended April 27, 2024.
"Throughout fiscal 2024, Patterson navigated a challenging market environment while continuing to make progress on our strategic objectives to better position the organization for the future," said Don Zurbay, President and CEO of Patterson Companies. "Our fourth quarter results were driven by strong performances in our dental consumables and production animal businesses, reflecting the strength of Patterson's value proposition across our resilient end markets and our sustained focus on serving as indispensable partners to our customers. Our outlook reflects the continued confidence in our strategy focused on investing to drive enhanced growth and profitability over the long term combined with the current conditions in our end markets.”
Fourth Quarter Fiscal 2024 Results
Consolidated net sales were $1.72 billion (see attached Sales Summary for further details), an increase of 0.1 percent compared to the same period last year. Internal sales, which are adjusted for the effects of currency translation and the net impact of an interest rate swap, decreased 0.5 percent over the prior year period.
Reported net income attributable to Patterson Companies, Inc. for the fourth quarter of fiscal 2024 was $67.0 million, or $0.74 per diluted share, compared to $75.0 million, or $0.77 per diluted share, in the fourth quarter of fiscal 2023. Adjusted net income1 attributable to Patterson Companies, Inc., which excludes deal amortization, totaled $74.4 million for the fourth quarter of fiscal 2024, or $0.82 per diluted share, compared to $82.4 million, or $0.84 per diluted share, in the fourth quarter of fiscal 2023. The year-over-year decrease in reported and adjusted net income attributable to Patterson Companies, Inc. in the fourth quarter of fiscal 2024 is primarily due to lower sales of equipment and the negative impact of the widely reported cybersecurity attack on vendor partner, Change Healthcare, within the value-added services category of the dental segment. Both reported and adjusted net income in the fiscal 2024 fourth quarter were negatively impacted by $0.04 per diluted share due to the cybersecurity attack on Change Healthcare.
Patterson Dental
Reported net sales in the Dental segment for the fourth quarter of fiscal 2024 were $657.8 million. Internal sales decreased 3.8 percent compared to the fiscal 2023 fourth quarter. Internal sales of consumables increased 3.7 percent year-over-year. Excluding the deflationary impact of certain infection control products, internal sales of consumables increased 4.4 percent year-over-year. Compared to the prior year period, internal sales of equipment decreased 11.9 percent. Internal sales of value-added services decreased 11.0 percent compared to the prior year period, primarily due to the negative impact of the cybersecurity attack on Change Healthcare.
Patterson Animal Health
Reported net sales in the Animal Health segment for the fourth quarter of fiscal 2024 were $1.06 billion. Internal sales growth of 2.5 percent year-over-year was driven by sales growth in the production animal business. Compared to the prior year period, internal sales of consumables grew 2.5 percent, equipment decreased 4.0 percent and value-added services increased 15.0 percent.
Balance Sheet and Capital Allocation
During fiscal 2024, Patterson Companies used $789.4 million of cash from operating activities and collected deferred purchase price receivables of $1.03 billion, generating $238.9 million in cash, compared to generating $244.1 million during fiscal 2023. Free cash flow1 (see definition below and attached free cash flow table) during fiscal 2024 declined by $8.6 million compared to the fiscal 2023 period due to operational performance and an increased level of capital spending during fiscal 2024.
In the fourth quarter of fiscal 2024, Patterson Companies declared a quarterly cash dividend of $0.26 per share, returning $23.3 million in cash dividends to shareholders. Also, under a prior repurchase authorization, the company repurchased approximately 0.5 million shares during the fiscal fourth quarter. At of the end of fiscal 2024, Patterson had approximately $500 million of share repurchase authority remaining on its current share repurchase authorization. During fiscal 2024, Patterson Companies returned $327.9 million to shareholders in the form of cash dividends and share repurchases.
Fiscal 2024 Full Year Results
Consolidated reported net sales for fiscal 2024 totaled $6.57 billion, a 1.5 percent year-over-year increase. Internal sales for fiscal 2024, which are adjusted for the effects of currency translation, contributions from recent acquisitions and the net impact of an interest rate swap, increased 0.8 percent year-over-year. Fiscal 2024 Dental segment internal sales were flat compared to the prior fiscal year, including a 4.4 percent increase in consumables, a 6.9 percent decline in equipment and a 0.8 percent decrease in value-added services. Fiscal 2024 Animal Health segment internal sales increased 1.3 percent, including 0.8 percent growth in consumables, a 3.3 percent decline in equipment and a 42.6 percent increase in value-added services.
Reported net income attributable to Patterson Companies, Inc. in fiscal 2024 was $185.9 million, or $1.98 per diluted share, compared to $207.6 million, or $2.12 per diluted share in fiscal 2023. Adjusted net income1 attributable to Patterson Companies, Inc., which excludes deal amortization, totaled $215.3 million, or $2.30 per diluted share, compared to $236.4 million, or $2.42 per diluted share, in the prior year.
Fiscal 2025 Guidance
Patterson Companies today initiated its fiscal 2025 earnings guidance, which is provided on both a GAAP and non-GAAP adjusted1 basis:
Our guidance reflects the strength of our business and competitive positioning as well as completed and previously announced acquisitions. It does not include the impact of unplanned share repurchases, potential future acquisitions or similar transactions, impairments, restructuring and integration expenses not previously publicly disclosed, or amortization expense of acquired intangible assets. Our guidance assumes North American and international end market conditions consistent with current market conditions.
1Non-GAAP Financial Measures
The term “internal sales” used in this release represents net sales adjusted for the effects of currency translation, contributions from recent acquisitions and the net impact of an interest rate swap. Foreign currency impact represents the difference in results that is attributable to fluctuations in currency exchange rates the company uses to convert results for all foreign entities where the functional currency is not the U.S. dollar. The company calculates the impact as the difference between the current period results translated using the current period currency exchange rates and using the comparable prior period’s currency exchange rates. The company believes the disclosure of net sales excluding the impact of foreign currency, an interest rate swap and recent acquisitions provides useful supplementary information to investors in light of fluctuations in these variables that are independent of our period-over-period performance.
The term “free cash flow” used in this release is defined as net cash used in operating activities less capital expenditures plus the collection of deferred purchase price receivables.
The Reconciliation of GAAP to non-GAAP Measures table appearing behind the accompanying financial information is provided to adjust reported GAAP measures, namely net sales, gross profit, operating expenses, operating income, other income (expense), net, income before taxes, income tax expense, net income, net loss attributable to noncontrolling interests, net income attributable to Patterson Companies, Inc., and diluted earnings per share attributable to Patterson Companies, Inc. for the impact of deal amortization and an interest rate swap along with any related tax effects of these items.
Management believes that these non-GAAP measures may provide a helpful representation of the company’s performance and enable comparison of financial results between periods where certain items may vary independent of business performance. These non-GAAP financial measures are presented solely for informational and comparative purposes and should not be regarded as a replacement for corresponding, similarly captioned, GAAP measures.
Fourth Quarter Conference Call and Replay
Patterson Companies’ fiscal 2024 fourth quarter conference call will start at 8:30 a.m. Eastern today. Investors can listen to a live webcast of the conference call at www.pattersoncompanies.com. The conference call will be archived on the Patterson Companies website. A replay of the fiscal 2023 fourth quarter conference call can be heard for one week at 1-800-770-2030 and by providing the Conference ID 67281 when prompted.
About Patterson Companies Inc.
Patterson Companies Inc. (Nasdaq: PDCO) connects dental and animal health customers in North America and the U.K. to the latest products, technologies, services and innovative business solutions that enable operational and professional success. Our comprehensive portfolio, distribution network and supply chain is equaled only by our dedicated, knowledgeable people who deliver unrivalled expertise and unmatched customer service and support.
Learn more: pattersoncompanies.com
This press release contains, and our officers and representatives may from time to time make, certain “forward-looking statements” within the meaning of the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995, including statements regarding future financial performance, and the objectives and expectations of management. Forward-looking statements often include words such as “believes,” “expects,” “anticipates,” “estimates,” “intends,” “plans,” “seeks” or words of similar meaning, or future or conditional verbs, such as “will,” “should,” “could” or “may.”
Forward-looking statements are neither historical facts nor assurances of future performance. Instead, they are based only on our current beliefs, expectations and assumptions regarding the future of our business, future plans and strategies, projections, anticipated events and trends, the economy and other future conditions. Because forward-looking statements relate to the future, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict and many of which are outside of our control. Our actual results and financial condition may differ materially from those indicated in the forward-looking statements. Therefore, you should not place undue reliance on any of these forward-looking statements.
Any number of factors could affect our actual results and cause such results to differ materially from those contemplated by any forward-looking statements, including, but not limited to, the following: our dependence on suppliers to manufacture and supply substantially all of the products we sell; potential disruption of distribution capabilities, including service issues with third-party shippers; our dependence on relationships with sales representatives and service technicians to retain customers and develop business; risks of selling private label products, including the risk of adversely affecting our relationships with suppliers; adverse changes in supplier rebates or other purchasing incentives; the risk of technological and market obsolescence for the products we sell; the risk of failing to innovate and develop new and enhanced software and e-services products; our dependence on positive perceptions of Patterson’s reputation; risks associated with illicit human use of pharmaceutical products we distribute; risks inherent in acquiring and disposing of assets or other businesses and risks inherent in integrating acquired businesses; turnover or loss of key personnel or highly skilled employees; risks associated with information systems, software products and cyber-security attacks; risks inherent in our growing use of AI systems to automate processes and analyze data; adverse impacts of wide-spread public health concerns as we experienced with the COVID-19 pandemic and may experience in the future; risks related to climate change; our ability to comply with restrictive covenants and other limits in our credit agreement; the risk that our governing documents and Minnesota law may discourage takeovers and business combinations; the effects of the highly competitive dental and animal health supply markets in which we compete; the effects of consolidation within the dental and animal health supply markets; risks from the formation or expansion of GPOs, provider networks and buying groups that may place us at a competitive disadvantage; exposure to the risks of the animal production business, including changing consumer demand, the cyclical livestock market, weather conditions, the availability of natural resources and other factors outside our control, and the risks of the companion animal business, including the possibility of disease adversely affecting the pet population; exposure to the risks of the health care industry, including changes in demand due to political, economic and regulatory influences and other factors outside our control; increases in over-the-counter sales and e-commerce options; risks of litigation and government inquiries and investigations, including the diversion of management’s attention, the cost of defending against such actions, the possibility of damage awards or settlements, fines or penalties, or equitable remedies (including but not limited to the revocation of or non-renewal of licenses) and inherent uncertainty; failure to comply with health care fraud or other laws and regulations; change and uncertainty in the health care industry; failure to comply with existing or future U.S. or foreign laws and regulations including those governing the distribution of pharmaceuticals and controlled substances; failure to comply with evolving data privacy laws and regulations; tax legislation; risks inherent in international operations, including currency fluctuations; and uncertain macro-economic conditions, including inflationary pressures.
The order in which these factors appear should not be construed to indicate their relative importance or priority. We caution that these factors may not be exhaustive, accordingly, any forward-looking statements contained herein should not be relied upon as a prediction of actual results.
You should carefully consider these and other relevant factors, including those risk factors in Part I, Item 1A, (“Risk Factors”) in our most recent Form 10-K and information which may be contained in our other filings with the U.S. Securities and Exchange Commission, or SEC, when reviewing any forward-looking statement.
Investors should understand it is impossible to predict or identify all such factors or risks. As such, you should not consider the foregoing list, or the risks identified in our SEC filings, to be a complete discussion of all potential risks or uncertainties.
Any forward-looking statement made by us in this press release is based only on information currently available to us and speaks only as of the date on which it is made. We do not undertake any obligation to release publicly any revisions to any forward-looking statements, whether written or oral, that may be made from time to time, whether as a result of new information, future developments or otherwise.
PATTERSON COMPANIES, INC. CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (In thousands, except per share amounts) (Unaudited)
Three Months Ended
Twelve Months Ended
April 27, 2024
April 29, 2023
April 27, 2024
April 29, 2023
Net sales
$
1,722,660
$
1,721,152
$
6,568,272
$
6,471,471
Gross profit
371,155
389,761
1,380,242
1,372,945
Operating expenses
283,368
284,651
1,127,318
1,096,974
Operating income
87,787
105,110
252,924
275,971
Other income (expense):
Other income, net
12,389
4,747
35,039
27,826
Interest expense
(13,031
)
(10,798
)
(44,910
)
(33,636
)
Income before taxes
87,145
99,059
243,053
270,161
Income tax expense
20,204
24,217
57,534
63,563
Net income
66,941
74,842
185,519
206,598
Net loss attributable to noncontrolling interests
(95
)
(123
)
(412
)
(959
)
Net income attributable to Patterson Companies, Inc.
$
67,036
$
74,965
$
185,931
$
207,557
Earnings per share attributable to Patterson Companies, Inc.:
Basic
$
0.75
$
0.77
$
2.00
$
2.14
Diluted
$
0.74
$
0.77
$
1.98
$
2.12
Weighted average shares:
Basic
89,613
97,224
92,969
97,027
Diluted
90,227
97,768
93,679
97,815
Dividends declared per common share
$
0.26
$
0.26
$
1.04
$
1.04
PATTERSON COMPANIES, INC. CONDENSED CONSOLIDATED BALANCE SHEETS (In thousands) (Unaudited)
April 27, 2024
April 29, 2023
ASSETS
Current assets:
Cash and cash equivalents
$
114,462
$
159,669
Receivables, net
547,287
477,384
Inventory
782,898
795,072
Prepaid expenses and other current assets
334,116
351,011
Total current assets
1,778,763
1,783,136
Property and equipment, net
229,081
212,283
Operating lease right-of-use assets, net
122,295
92,956
Goodwill and identifiable intangibles, net
349,589
388,293
Investments
166,320
160,022
Long-term receivables, net and other
250,684
242,456
Total assets
$
2,896,732
$
2,879,146
LIABILITIES AND STOCKHOLDERS' EQUITY
Current liabilities:
Accounts payable
$
745,375
$
724,993
Other accrued liabilities
245,610
250,949
Operating lease liabilities
32,815
28,390
Current maturities of long-term debt
122,750
36,000
Borrowings on revolving credit
186,000
45,000
Total current liabilities
1,332,550
1,085,332
Long-term debt
328,911
451,231
Non-current operating lease liabilities
92,464
67,376
Other non-current liabilities
141,075
156,672
Total liabilities
1,895,000
1,760,611
Stockholders' equity
1,001,732
1,118,535
Total liabilities and stockholders' equity
$
2,896,732
$
2,879,146
PATTERSON COMPANIES, INC. CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (In thousands) (Unaudited)
Twelve Months Ended
April 27, 2024
April 29, 2023
Operating activities:
Net income
$
185,519
$
206,598
Adjustments to reconcile net income to net cash used in operating activities:
Depreciation and amortization
88,156
83,704
Stock-based compensation
17,871
15,543
Non-cash losses (gains) and other, net
204
654
Change in assets and liabilities:
Receivables
(1,102,618
)
(1,047,075
)
Inventory
11,039
(11,086
)
Accounts payable
21,343
43,095
Accrued liabilities
(2,788
)
(21,714
)
Other changes from operating activities, net
(8,104
)
(24,571
)
Net cash used in operating activities
(789,378
)
(754,852
)
Investing activities:
Additions to property and equipment and software
(67,626
)
(64,220
)
Collection of deferred purchase price receivables
1,028,277
998,912
Payments related to acquisitions, net of cash acquired
(1,108
)
(33,280
)
Payments related to investments
—
(15,000
)
Other investing activities
—
15,155
Net cash provided by investing activities
959,543
901,567
Financing activities:
Dividends paid
(98,333
)
(101,346
)
Repurchases of common stock
(229,508
)
(55,492
)
Payments on long-term debt
(36,000
)
(1,500
)
Draw on revolving credit
141,000
16,000
Other financing activities
6,936
15,854
Net cash used in financing activities
(215,905
)
(126,484
)
Effect of exchange rate changes on cash
533
(2,576
)
Net change in cash and cash equivalents
(45,207
)
17,655
Cash and cash equivalents at beginning of period
159,669
142,014
Cash and cash equivalents at end of period
$
114,462
$
159,669
PATTERSON COMPANIES, INC. SALES SUMMARY (Dollars in thousands) (Unaudited)
April 27, 2024
April 29, 2023
Total Sales Growth
Foreign Exchange Impact
Net Interest Rate Swap
Acquisition Impact
Internal Sales Growth
Three Months Ended
Consolidated net sales
Consumable
$
1,376,634
$
1,333,446
3.2%
0.4%
—%
—%
2.8%
Equipment
249,071
279,901
(11.0)
—
—
—
(11.0)
Value-added services and other
96,955
107,805
(10.1)
0.3
5.3
—
(15.7)
Total
$
1,722,660
$
1,721,152
0.1%
0.3%
0.3%
—%
(0.5)%
Dental
Consumable
$
366,297
$
353,295
3.7%
—%
—%
—%
3.7%
Equipment
217,317
246,820
(12.0)
(0.1)
—
—
(11.9)
Value-added services and other
74,202
83,391
(11.0)
—
—
—
(11.0)
Total
$
657,816
$
683,506
(3.8)%
—%
—%
—%
(3.8)%
Animal Health
Consumable
$
1,010,337
$
980,151
3.1%
0.6%
—%
—%
2.5%
Equipment
31,754
33,081
(4.0)
—
—
—
(4.0)
Value-added services and other
22,089
18,946
16.6
1.6
—
—
15.0
Total
$
1,064,180
$
1,032,178
3.1%
0.6%
—%
—%
2.5%
Corporate
Value-added services and other
$
664
$
5,468
(87.9)%
—%
103.6%
—%
(191.5)%
Total
$
664
$
5,468
(87.9)%
—%
103.6%
—%
(191.5)%
PATTERSON COMPANIES, INC. SALES SUMMARY (Dollars in thousands) (Unaudited)
April 27, 2024
April 29, 2023
Total Sales Growth
Foreign Exchange Impact
Net Interest Rate Swap
Acquisition Impact
Internal Sales Growth
Twelve Months Ended
Consolidated net sales
Consumable
$
5,274,012
$
5,147,330
2.5%
0.5%
—%
0.1%
1.9%
Equipment
888,597
950,403
(6.5)
(0.1)
—
—
(6.4)
Value-added services and other
405,663
373,738
8.5
0.4
0.7
3.7
3.7
Total
$
6,568,272
$
6,471,471
1.5%
0.4%
—%
0.3%
0.8%
Dental
Consumable
$
1,415,789
$
1,358,823
4.2%
(0.2)%
—%
—%
4.4%
Equipment
766,345
823,978
(7.0)
(0.1)
—
—
(6.9)
Value-added services and other
306,500
309,341
(0.9)
(0.1)
—
—
(0.8)
Total
$
2,488,634
$
2,492,142
(0.1)%
(0.1)%
—%
—%
—%
Animal Health
Consumable
$
3,858,223
$
3,788,507
1.8%
0.8%
—%
0.2%
0.8%
Equipment
122,252
126,425
(3.3)
—
—
—
(3.3)
Value-added services and other
86,594
49,990
73.2
3.1
—
27.5
42.6
Total
$
4,067,069
$
3,964,922
2.6%
0.8%
—%
0.5%
1.3%
Corporate
Value-added services and other
$
12,569
$
14,407
(12.8)%
—%
17.2%
—%
(30.0)%
Total
$
12,569
$
14,407
(12.8)%
—%
17.2%
—%
(30.0)%
PATTERSON COMPANIES, INC. OPERATING INCOME BY SEGMENT (In thousands) (Unaudited)
Three Months Ended
Twelve Months Ended
April 27, 2024
April 29, 2023
April 27, 2024
April 29, 2023
Operating income (loss)
Dental
$
62,230
$
79,121
$
209,807
$
237,268
Animal Health
50,934
46,622
139,077
126,994
Corporate
(25,377
)
(20,633
)
(95,960
)
(88,291
)
Total
$
87,787
$
105,110
$
252,924
$
275,971
PATTERSON COMPANIES, INC. RECONCILIATION OF GAAP TO NON-GAAP MEASURES (Dollars in thousands, except per share amounts) (Unaudited)
For the three months ended April 27, 2024
GAAP
Deal amortization
Interest rate swap
Non-GAAP
Net sales
$
1,722,660
$
—
$
6,360
$
1,729,020
Gross profit
371,155
—
6,360
377,515
Operating expenses
283,368
(9,655
)
—
273,713
Operating income
87,787
9,655
6,360
103,802
Other income (expense), net
(642
)
—
(6,360
)
(7,002
)
Income before taxes
87,145
9,655
—
96,800
Income tax expense
20,204
2,305
—
22,509
Net income
66,941
7,350
—
74,291
Net loss attributable to noncontrolling interests
(95
)
—
—
(95
)
Net income attributable to Patterson Companies, Inc.
$
67,036
$
7,350
$
—
$
74,386
Diluted earnings per share attributable to Patterson Companies, Inc.*
$
0.74
$
0.08
$
—
$
0.82
Gross margin
21.5
%
21.8
%
Operating margin
5.1
%
6.0
%
Effective tax rate
23.2
%
23.3
%
For the three months ended April 29, 2023
GAAP
Deal amortization
Interest rate swap
Non-GAAP
Net sales
$
1,721,152
$
—
$
693
$
1,721,845
Gross profit
389,761
—
693
390,454
Operating expenses
284,651
(9,772
)
—
274,879
Operating income
105,110
9,772
693
115,575
Other income (expense), net
(6,051
)
—
(693
)
(6,744
)
Income before taxes
99,059
9,772
—
108,831
Income tax expense
24,217
2,337
—
26,554
Net income
74,842
7,435
—
82,277
Net loss attributable to noncontrolling interests
(123
)
—
—
(123
)
Net income attributable to Patterson Companies, Inc.
$
74,965
$
7,435
$
—
$
82,400
Diluted earnings per share attributable to Patterson Companies, Inc.*
$
0.77
$
0.08
$
—
$
0.84
Gross margin
22.6
%
22.7
%
Operating margin
6.1
%
6.7
%
Effective tax rate
24.4
%
24.4
%
* May not sum due to rounding.
PATTERSON COMPANIES, INC. RECONCILIATION OF GAAP TO NON-GAAP MEASURES (Dollars in thousands, except per share amounts) (Unaudited)
For the twelve months ended April 27, 2024
GAAP
Deal amortization
Interest rate swap
Non-GAAP
Net sales
$
6,568,272
$
—
$
12,447
$
6,580,719
Gross profit
1,380,242
—
12,447
1,392,689
Operating expenses
1,127,318
(38,539
)
—
1,088,779
Operating income
252,924
38,539
12,447
303,910
Other income (expense), net
(9,871
)
—
(12,447
)
(22,318
)
Income before taxes
243,053
38,539
—
281,592
Income tax expense
57,534
9,218
—
66,752
Net income
185,519
29,321
—
214,840
Net loss attributable to noncontrolling interests
(412
)
—
—
(412
)
Net income attributable to Patterson Companies, Inc.
$
185,931
$
29,321
$
—
$
215,252
Diluted earnings per share attributable to Patterson Companies, Inc.*
$
1.98
$
0.31
$
—
$
2.30
Gross margin
21.0
%
21.2
%
Operating margin
3.9
%
4.6
%
Effective tax rate
23.7
%
23.7
%
For the twelve months ended April 29, 2023
GAAP
Deal amortization
Interest rate swap
Non-GAAP
Net sales
$
6,471,471
$
—
$
9,968
$
6,481,439
Gross profit
1,372,945
—
9,968
1,382,913
Operating expenses
1,096,974
(37,932
)
—
1,059,042
Operating income
275,971
37,932
9,968
323,871
Other income (expense), net
(5,810
)
—
(9,968
)
(15,778
)
Income before taxes
270,161
37,932
—
308,093
Income tax expense
63,563
9,083
—
72,646
Net income
206,598
28,849
—
235,447
Net loss attributable to noncontrolling interests
(959
)
—
—
(959
)
Net income attributable to Patterson Companies, Inc.
$
207,557
$
28,849
$
—
$
236,406
Diluted earnings per share attributable to Patterson Companies, Inc.*
$
2.12
$
0.29
$
—
$
2.42
Gross margin
21.2
%
21.3
%
Operating margin
4.3
%
5.0
%
Effective tax rate
23.5
%
23.6
%
* May not sum due to rounding.
PATTERSON COMPANIES, INC. FREE CASH FLOW (In thousands) (Unaudited)
Twelve Months Ended
April 27, 2024
April 29, 2023
Net cash used in operating activities
$
(789,378
)
$
(754,852
)
Additions to property and equipment and software
(67,626
)
(64,220
)
Collection of deferred purchase price receivables
1,028,277
998,912
Free cash flow
$
171,273
$
179,840
View source version on businesswire.com: https://www.businesswire.com/news/home/20240618970352/en/
INVESTOR CONTACT: John M. Wright, Investor Relations TEL: 651.686.1364 EMAIL: investor.relations@pattersoncompanies.com MEDIA CONTACT: Patterson Corporate Communications TEL: 651.905.3349 EMAIL: corporate.communications@pattersoncompanies.com WEB: pattersoncompanies.com
1 Year Patterson Companies Chart |
1 Month Patterson Companies Chart |
It looks like you are not logged in. Click the button below to log in and keep track of your recent history.
Support: +44 (0) 203 8794 460 | support@advfn.com
By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions
Hot Features
Premium
