Shares of Patterson Companies, Inc. (PDCO) were gaining over 11 percent on Wednesday morning after the company posted a rise in earnings and revenue for the fourth-quarter and initiated full year 2024 outlook, above analysts' estimates.
PDCO was trading up by 11.82 percent at $31.60 per share in the pre-market trading on the Nasdaq.
For the final-quarter, the healthcare company posted a net income of $74.97 million or $0.77 per share, compared with $63.88 million or $0.65 per share a year ago.
Excluding items, PDCO reported earnings of $82.40 million or $0.84 per share for the period. On average, 12 analysts, polled by Thomson Reuters had expected the company to record income per share of $0.70. Analysts' estimated typically exclude special items.
Revenue for the quarter rose by 4.9 percent to $1.72 billion from $1.64 billion of previous year.
For full year 2024, PDCO expects net income per share of $2.14 - $2.24. Excluding items, Patterson projects income per share of $2.45 - $2.55, above analysts' estimate of $2.34.
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