Patterson Companies rises on better-than-expected Q4, outlook

Patterson Companies

21/06/2023 12:31

** Shares of dental and animal health product firm Patterson
Companies  PDCO.O  jump 9.7% at $31 premarket
    ** Co beats Q4 sales and profit estimate owing to strong
sales of dental equipment and value-added services, and margin
expansion
    ** Posts an 18% jump in adjusted earnings at $0.84 per share
and a 5% rise in net sales at $1.7 bln during the qtr
    ** Forecasts adjusted earnings for fiscal 2024 in the range
of $2.45 to $2.55 per share, higher than average analyst
estimate of $2.34 compiled by Refinitiv
    ** YTD, stock is up marginally

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