Patterson Cos Expects FY24 Adj EPS of $2.30-$2.35 (Prior $2.35-$2.45) Vs $2.36 Est
Portfolio Pulse from Benzinga Newsdesk
Patterson Companies (PDCO) has revised its fiscal 2024 earnings guidance downwards. GAAP earnings are now expected to be $1.99 to $2.04 per share, and non-GAAP adjusted earnings are forecasted to be $2.30 to $2.35 per share, down from the previous $2.35 to $2.45 range. This adjustment reflects the company's anticipation of ongoing inflationary trends, higher interest rates, and a broader economic slowdown, amidst macroeconomic and geopolitical uncertainties.
February 28, 2024 | 12:12 pm
News sentiment analysis
Sort by:
Descending
NEGATIVE IMPACT
Patterson Companies has lowered its fiscal 2024 earnings guidance, with GAAP earnings expected to be $1.99 to $2.04 per share and non-GAAP adjusted earnings forecasted at $2.30 to $2.35 per share.
The downward revision in earnings guidance by Patterson Companies is likely to negatively impact investor sentiment in the short term. This adjustment is attributed to anticipated challenges such as inflation, higher interest rates, and a broader economic slowdown, which could dampen the company's financial performance and outlook.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100