What's In Store For Patterson Companies' (PDCO) Q3 Earnings?
Zacks Investment Research | Feb 23, 2020 09:29PM ET
Patterson Companies, Inc. (NASDAQ:PDCO) is scheduled to release third-quarter fiscal 2020 results on Feb 27, before the opening bell. While the core Patterson Dental segment is expected to have performed impressively, revenues at the Animal Health unit are likely to have been soft in the quarter.
The company delivered a positive earnings surprise of 3% in the last reported quarter, the trailing four-quarter positive earnings surprise being 11.4%, on average.
Q3 Estimates Picture
For the quarter to be reported, the Zacks Consensus Estimate for the company’s revenues is pegged at $1.42 billion, suggesting growth of 1.5% from the year-ago reported number. The same for adjusted earnings per share (EPS) is pinned at 37 cents, indicating a decline of 2.6% from the year-ago figure.
Let’s take a look at how things are shaping up prior to the earnings release.
Factors to Consider
Being one of the leading distributors of consumable products and dental technology, Patterson Companies’ Dental arm has been one of the key contributors to the company’s top line.
Notably, management is optimistic about the U.S. consumables growth. Also, robust demand for the segment’s products like x-ray film, restorative materials, sterilization products, hand instruments and advanced dental equipment is likely to have boosted revenues in the quarter to be reported.
Reflective of this, the Zacks Consensus Estimate for the segment’s revenues is pegged at $586 million, suggesting a 3.7% rise sequentially.
Patterson Companies expects fiscal 2020 adjusted EPS between $1.36 and $1.46, up from the previously-communicated range of $1.33-$1.43.
Patterson Companies, Inc. Price and EPS Surprise
Earnings ESP Filter .
Zacks Rank: The company currently carries a Zacks Rank #2.
Stocks Worth a Look
Here are a few stocks which have the right combination to come up with an earnings beat this time around.
Nevro (NYSE:NVRO) has an Earnings ESP of +3.45% and a Zacks Rank #2.
Burlington Stores (NYSE:BURL) has an Earnings ESP of +0.02% and a Zacks Rank #2.
ABM Industries (NYSE:ABM) has an Earnings ESP of +10.87% and a Zacks Rank #3.
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