ST. PAUL, Minn. - Patterson Companies (NASDAQ:PDCO) reported mixed second quarter results, with earnings falling short of expectations while revenue slightly beat estimates. The dental and animal health products distributor's shares fell 1.69% following the release Thursday.
For the fiscal second quarter ended October 26, Patterson reported adjusted earnings of $0.47 per share, missing the analyst consensus of $0.49. Revenue rose 1.3% year-over-year to $1.67 billion, edging past estimates of $1.66 billion.
The company's dental segment saw internal sales decline 2.3% compared to the prior year period, while animal health internal sales increased 1.9%.
"Our second quarter results were mixed, given the challenging end market environment," said CEO Don Zurbay. He noted the company took "dedicated cost management actions" and made targeted investments to support long-term growth.
Looking ahead, Patterson revised its fiscal 2025 adjusted earnings guidance to a range of $2.25 to $2.35 per share, compared to the previous analyst consensus of $2.30.
The company also announced it is evaluating potential strategic alternatives to maximize shareholder value, which could include a sale or merger.
Through the first six months of fiscal 2025, Patterson returned $96.2 million to shareholders via dividends and share repurchases.
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