Patterson Companies, Inc. Reports Net Income of $207.6 Million for Fiscal Year 2023
Revenue for Patterson Companies, Inc. Reaches $6.47 Billion in Fiscal Year 2023
Patterson Companies, Inc.,(PDCO) a leading distributor serving the dental, veterinary, and rehabilitation supply markets, has released its financial results for the fiscal year ended April 29, 2023. The company reported a net income of $207.6 million, representing a solid performance for the year. Additionally, Patterson Companies achieved significant revenue of $6.47 billion, demonstrating strong growth in its core markets. Let's delve into the details of the company's consolidated balance sheets and statements of operations to gain further insights into its financial performance.
Consolidated Balance Sheets:
Patterson Companies' consolidated balance sheets showcase its financial position as of April 29, 2023, and April 30, 2022. The company's current assets increased from $1.68 billion in 2022 to $1.78 billion in 2023, primarily driven by growth in cash and cash equivalents, receivables, and inventory. Notably, cash and cash equivalents rose to $159.7 million, reflecting improved liquidity. Property and equipment remained relatively stable at $212.3 million, while investments increased to $160.0 million. Overall, the total assets of Patterson Companies reached $2.88 billion in 2023, a positive indicator of the company's financial health and potential for future growth.
