Patterson Revises FY25 Earnings Guidance; To Evaluate Potential Strategic Alternatives

(RTTNews) - (Adds Outlook, Strategic Review)

Patterson Companies (PDCO) revised its fiscal 2025 earnings guidance. GAAP earnings are expected to be in the range of $1.83 to $1.93 per share; and non-GAAP adjusted earnings are expected to be in the range of $2.25 to $2.35 per share. In August, the company projected GAAP earnings in the range of $2.00 to $2.10 per share, and non-GAAP adjusted earnings in the range of $2.33 to $2.43 per share.

The company also announced that it is evaluating potential strategic alternatives to maximize shareholder value. The company noted that the alternatives may include, but are not limited to, a sale, merger, strategic business combination or other transaction.

Q2 Results:

The company reported net income attributable to Patterson for the second quarter of $26.8 million, or $0.30 per share, compared to $40.0 million, or $0.42 per share, a year ago. Adjusted net income attributable to Patterson was $41.8 million, or $0.47 per share, compared to $47.3 million, or $0.50 per share, last year. Analysts on average had expected the company to earn $0.49 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

Second quarter net sales were $1.67 billion, an increase of 1.3 percent compared to the same period last year. Analysts on average had estimated $1.65 billion in revenue.

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