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Animal/Dental Health Focused Patterson Cuts Annual Guidance Amid Inflationary Pressures

Benzinga ·  11/30/2023 00:13

Patterson(PDCO.US) reported Q2 FY24 net sales of $1.65 billion, up 1.6% Y/Y, missing the consensus of $1.70 billion. Q3 internal sales increased 1%. "Our team executed well against softer than anticipated demand within our end markets," said Don Zurbay, President and CEO of Patterson Companies."Steady patient traffic supported strong performance in our broad and resilient dental consumables portfolio that was offset by lower sales in certain high-tech dental equipment categories."Reported net sales in the Dental segment reached $626.4 million. Internal sales decreased 0.2% Y/Y. Internal sales of consumables increased 2.9% Y/Y. In Patterson Dental, excluding the deflationary impact of certain infection control

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