Patterson panies(US:PDCO)2024-02-28 17:23Financial Performance - Consolidated net sales increased by 10% year-over-year to $1616095 thousand from $1600850 thousand[23] - Internal sales increased 03% year-over-year, driven by dental consumables growth of 63%[19] - Q3 Fiscal 2024 GAAP earnings were $052 per diluted share, and adjusted earnings were $059 per diluted share[19] - The company returned $1488 million to shareholders through dividends and share repurchases[19] Segment Performance - Dental - Total dental sales increased by 25%, with consumables up by 63% and equipment down by 24%[28] - Adjusted operating margin for Patterson Dental was 89%, a decrease of 130 bps year-over-year[29] Segment Performance - Animal Health - Total Animal Health sales decreased by 02%, with consumables down by 10% and equipment down by 59%[31] - Value Added Services and Other in Animal Health increased significantly by 736%[31] - Adjusted operating margin for Patterson Animal Health was 44%, an increase of 20 bps year-over-year[38] Cash Flow and Capital Allocation - Free cash flow for the nine months ended January 27, 2024, was negative $726 thousand[33] - Share repurchases totaled $1241 million in Q3 FY'24 and $2146 million year-to-date[43] - Dividends paid were $247 million in Q3 FY'24 and $750 million year-to-date[35] Fiscal Year 2024 Guidance - Revised fiscal 2024 GAAP earnings guidance to $199 to $204 per diluted share and adjusted earnings guidance to $230 to $235 per diluted share[20] - The non-GAAP adjusted earnings guidance excludes deal amortization expenses of approximately $293 million ($031 per diluted share)[46]