Patterson CEO Blames Q1 Drag On Change Healthcare Cyberattack, 'Timing Of Corporate Expenses'
Portfolio Pulse from Vandana Singh
Patterson Companies Inc. (NASDAQ:PDCO) reported a 2.2% decline in Q1 2025 net sales, missing Wall Street expectations. The shortfall was attributed to a cyberattack on Change Healthcare and timing of corporate expenses. Adjusted EPS also missed consensus, leading to a 9.11% drop in premarket stock price.
August 28, 2024 | 1:28 pm
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Patterson Companies reported a 2.2% decline in Q1 2025 net sales, missing Wall Street expectations due to a cyberattack and timing of corporate expenses. Adjusted EPS also missed consensus, leading to a 9.11% drop in premarket stock price.
The company's Q1 results were negatively impacted by a cyberattack and unexpected corporate expenses, leading to a significant miss on both sales and EPS expectations. This has resulted in a notable premarket stock price decline.
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