Patterson (PDCO) Fiscal Q1 2017 Earnings Call

posted in: Earnings Call, Notes | 0

Patterson (PDCO) CEO Scott Anderson said animal production sector continues to rebound

“Once again this quarter we executed well against stable to steadily improving market conditions across both our companion and production animal businesses. we saw improvement in swine end markets and stable to improving conditions in beef cattle. In companion animal, we continue to execute well against steadily improving market conditions in all of our regions.”

Patterson (PDCO) CEO Scott Anderson said he is seeing some summer softness in the dental market but he hopes it’s short term in nature

“In looking at the North American consumable market, I will say we have seen some summer softness to the market but really don’t want to overreact to it, because when you look at it, there are really multiple signs towards a thesis that this will be short term in nature. I think we have a North American economy with strong consumer confidence. We have unemployment levels under 5%. We look internally to a strong pipeline for equipment and technology. And we also have done some pretty in-depth customer survey data that points to a rather encouraging outlook that our customers have going forward. So we obviously don’t want to overreact to just a little softness over the summer months, but we’ll continue to monitor the trend.”