The following is a summary of the Patterson Companies, Inc. (PDCO) Q4 2024 Earnings Call Transcript:
Financial Performance:
Patterson reported Q4 revenue of $1.72 billion, with annual revenue of $6.6 billion.
Adjusted EPS for Q4 was $0.82 and for the year was $2.30.
Gross margin for Q4 declined primarily due to revenue and profit shortfall in the dental segment related to the Change Healthcare cybersecurity attack.
Business Progress:
Significant investments in software and value-added services, notably in dental and animal health segments.
Launch of Patterson CarePay+ and collaboration with AI technology provider Pearl.
Animal Health continued to see strong performance, particularly in production animal business.
New strategic partnerships and customer engagement platforms introduced like LEED in the Animal Health segment.
Opportunities:
Continued focus on expanding investment and strategic growth opportunities in software and value-added services.
Acquisitions of DairyTech and RSVP and ACT provide a roadmap for value-enhancing M&A pursuits.
Expansion in production animal business and advancements in technology platforms like Turnkey and integration of pathology detection AI tool.
Risks:
Cybersecurity attack on Change Healthcare impacted Q4 EPS by $0.04 per share, affecting dental equipment sales and operations.
Economic challenges impact dental equipment spending and software innovation cycles, potentially affecting near-term growth.
More details: Patterson IR
Tips: This article is generated by AI. The accuracy of the content can not be fully guaranteed. For more comprehensive details, please refer to the IR website. The article is only for investors' reference without any guidance or recommendation suggestions.