Patterson Companies leaps on Q4 results, outlook beat

Patterson Companies

21/06/2023 18:37

(Updates)
    ** Shares of dental and animal health product firm Patterson
Companies  PDCO.O  jump as much as 15.9% at $32.75 - highest
since April 26, 2022
    ** Co posts better-than-expected Q4 sales and profit owing
to strong sales of dental equipment and value-added services,
and margin expansion
    ** Posts an 18% jump in adjusted earnings to $0.84 per share
and a 5% rise in net sales to $1.7 bln during the quarter
    ** Forecasts adjusted earnings for fiscal 2024 in the range
of $2.45 to $2.55 per share, higher than analysts' average
estimate of $2.34, compiled by Refinitiv
    ** Stock logs biggest intraday gain since Dec 2, 2020
    ** YTD, stock is up marginally

 (Reporting by Savyata Mishra in Bengaluru)
 ((Savyata.Mishra@thomsonreuters.com;))