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Patterson Companies Second Quarter 2023 Earnings: EPS Beats Expectations, Revenues Lag

Patterson Companies (NASDAQ:PDCO) Second Quarter 2023 Results

Key Financial Results

  • Revenue: US$1.63b (down 1.4% from 2Q 2022).

  • Net income: US$54.1m (up 12% from 2Q 2022).

  • Profit margin: 3.3% (up from 2.9% in 2Q 2022). The increase in margin was driven by lower expenses.

  • EPS: US$0.56 (up from US$0.50 in 2Q 2022).

earnings-and-revenue-growth
earnings-and-revenue-growth

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

Patterson Companies EPS Beats Expectations, Revenues Fall Short

Revenue missed analyst estimates by 2.9%. Earnings per share (EPS) exceeded analyst estimates by 11%.

Looking ahead, revenue is forecast to grow 3.0% p.a. on average during the next 3 years, compared to a 7.6% growth forecast for the Healthcare industry in the US.

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Performance of the American Healthcare industry.

The company's share price is broadly unchanged from a week ago.

Risk Analysis

You should learn about the 3 warning signs we've spotted with Patterson Companies (including 2 which don't sit too well with us).

Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) simplywallst.com.

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.

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