Welcome to our dedicated page for Patterson Companies news (Ticker: PDCO), a resource for investors and traders seeking the latest updates and insights on Patterson Companies stock.
Patterson Companies, Inc. (Symbol: PDCO) is a leading specialty distributor in the dental and veterinary supply markets. The company is dedicated to addressing the needs of healthcare professionals by offering a comprehensive range of products and services. Patterson operates through two primary business segments: Patterson Dental and Patterson Animal Health, providing a 'total-package' approach for their customers.
Patterson Dental offers a virtually complete range of consumable dental products, advanced equipment, cutting-edge software, turnkey digital solutions, and value-added services. They cater to dentists and dental laboratories throughout North America, ensuring that professionals have access to the latest technology and supplies.
Patterson Animal Health, which includes Patterson Veterinary Supply and Animal Health International, is a major distributor of consumable supplies, equipment, software, diagnostic products, vaccines, and other pharmaceuticals. Their market extends to companion pets, production animals, and farm/fleet store markets across the United States, Canada, and the United Kingdom.
With a strong emphasis on continuous improvement and customer satisfaction, Patterson Companies has established strategic partnerships and invested in innovative solutions to stay ahead in these growing markets. The company's largest revenue segment is Animal Health, contributing significantly to its financial performance. Geographically, the majority of its revenue comes from the United States.
For the latest updates on Patterson Companies, including news on financial performance, product launches, and industry developments, visit their official website at www.pattersoncompanies.com.
On March 14, 2023, Patterson Companies, Inc. (NASDAQ: PDCO) announced a quarterly cash dividend of $0.26 per share. This dividend will be payable on or about May 5, 2023, to shareholders of record as of the close of business on April 21, 2023. The company connects dental and animal health customers in North America and the U.K. with products, technologies, and services that promote operational success. Their expertise and comprehensive distribution network enhance customer service and support.
Patterson Companies reported a 0.3% year-over-year increase in net sales for Q3 fiscal 2023, totaling $1.6 billion. Internal sales rose 1.8%, with adjusted earnings of $0.62 per diluted share, up 13% from the prior year. The company narrowed its fiscal 2023 GAAP earnings guidance to $1.96-$2.01 per share, and adjusted earnings guidance to $2.25-$2.30 per share. The Dental segment saw a 3.8% decline in internal sales, while the Animal Health segment experienced a 4.6% growth. Free cash flow declined by $70.4 million compared to the previous year, attributed to increased working capital. The firm returned $91 million to shareholders in dividends and buybacks.
Patterson Companies (Nasdaq: PDCO) will host its fiscal 2023 third-quarter earnings conference call on Thursday, March 2, 2023, at 7:30 a.m. CT (8:30 a.m. ET). The earnings release will be published that morning before the market opens.
Investors can access the live webcast on the investor relations section of Patterson's website. A replay will be available from 10 a.m. CT on March 2 to 10 p.m. CT on March 9, 2023, via a dedicated dial-in number.
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