Patterson Companies, Inc. (NASDAQ:PDCO) shares fell more than 6% in early trading on Wednesday after the animal and oral health markets solutions provider reported its first quarter fiscal 2024 financial results.
Its sales for the period rose 3.5% year-over-year to $1.57 billion, matching the Street forecast per Zacks Consensus Estimate.
Adjusted earnings per share of $0.40 were in line with analysts’ expectations too and represented a 25% increase over the year-ago quarter.
Investors may also have been left disappointed by the fact that the company did not raise its outlook, reiterating its 2024 earnings guidance of $2.14 to $2.24 per share and adjusted earnings guidance of $2.45 to $2.55 per share.
Patterson Companies shares were down 6.5% at US$31.16 shortly after the opening bell in New York.
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