Patterson Companies, Inc. (NASDAQ:PDCO) Q4 2023 Earnings Call Transcript June 21, 2023 8:30 AM ET

Company Participants

John Wright - Vice President, Investor Relations

Don Zurbay - President and Chief Executive Officer

Kevin Barry - Chief Financial Officer

Conference Call Participants

Jason Bednar - Piper Sandler

Michael Cherny - Bank of America

Nathan Rich - Goldman Sachs

Jonathan Block - Stifel Nicolaus

Jeff Johnson - Robert W. Baird

Elizabeth Anderson - Evercore ISI

Kevin Caliendo - UBS

Brandon Vazquez - William Blair

A.J. Rice - Credit Suisse

Operator

Hello and welcome to the Patterson Companies Inc., Fourth Quarter Fiscal 2023 Earnings Conference Call. All lines have been placed on mute to prevent any background noise. After the speaker's remarks, there will be a question-and-answer session. [Operator Instructions]

I will now turn the conference over to John Wright, Vice President of Investor Relations. Please go ahead.

John Wright

Thank you, operator. Good morning, everyone, and thank you for participating in Patterson Companies' fiscal 2023 fourth quarter and full year conference call. Joining me today are Patterson's President and Chief Executive Officer, Don Zurbay, and Patterson's Chief Financial Officer, Kevin Barry. After a review of our results and outlook by management, we will open the call to your questions.

Before we begin, let me remind you that certain statements made during this conference call are forward-looking in nature and subject to certain risks and uncertainties. These factors which could cause actual results to materially differ from those indicated in such forward-looking statements are discussed in detail in our Form 10-K and our other filings with the Securities and Exchange Commission. We encourage you to review this material.

In addition, comments about the markets we serve, including growth rates and market shares are based upon the company's internal analysis and estimates. The content of this conference call contains time-sensitive information and is accurate only as of the date of the live broadcast, June 21, 2023. Patterson undertakes no obligation to revise or update any forward-looking statements to reflect events or circumstances after the date of this call. Also, a financial slide presentation can be found in the Investor Relations section of our website at pattersoncompanies.com.

Please note that in this morning's conference call, we will reference our adjusted results for the fourth quarter and full-year fiscal 2023. A reconciliation table in our press release is provided to adjust reported GAAP measures, namely operating income, other income, expense, net income before taxes, income tax expense, net income, net income attributable to Patterson Companies Inc. and diluted earnings per share attributable to Patterson Companies Inc. for the impact of deal amortization, integration and business restructuring expenses, legal reserves, inventory donation charges, and gains on investments along with the related tax effects of these items.