Patterson Companies falls on FY24 profit forecast cut

Patterson Companies

28/02/2024 13:27

** Shares of medical device supplier Patterson Companies
 PDCO.O  fall 6.5% to $26.97 premarket
    ** Co lowers adj EPS forecast for its fiscal year 2024,
which ends in the month of April
    ** Sees fiscal 2024 adj EPS in the range of $2.30 to $2.35
vs the previous outlook of $2.35 to $2.45 
    ** "We have revised our guidance to reflect current
expectations for the fourth quarter, including continued
headwinds in the dental equipment market," CEO Don Zurbay
    ** PDCO's Q3 adj EPS of 59 cents misses analysts' avg
estimate of 60 cents - LSEG data
    ** Up to last close, stock up 7.1% in the last 12 months

 (Reporting by Puyaan Singh)
 ((Puyaan.Singh@thomsonreuters.com;))