Patterson Companies Second Quarter 2024 Earnings: Misses Expectations

Patterson Companies (NASDAQ:PDCO) Second Quarter 2024 Results

Key Financial Results

• Revenue: US$1.65b (up 1.6% from 2Q 2023).
• Net income: US$40.0m (down 26% from 2Q 2023).
• Profit margin: 2.4% (down from 3.3% in 2Q 2023). The decrease in margin was driven by higher expenses.
• EPS: US$0.42 (down from US$0.56 in 2Q 2023).

All figures shown in the chart above are for the trailing 12 month (TTM) period

Patterson Companies Revenues and Earnings Miss Expectations

Revenue missed analyst estimates by 2.7%. Earnings per share (EPS) also missed analyst estimates by 18%.

Looking ahead, revenue is forecast to grow 3.0% p.a. on average during the next 3 years, compared to a 7.0% growth forecast for the Healthcare industry in the US.

Performance of the American Healthcare industry.

The company's shares are down 21% from a week ago.

Risk Analysis

We don't want to rain on the parade too much, but we did also find 3 warning signs for Patterson Companies (2 are concerning!) that you need to be mindful of.

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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.