Patterson Companies, Inc. (NASDAQ:PDCO) Q1 2023 Results Earnings Conference Call September 1, 2022 8:30 AM ET

Company Participants

John Wright - Vice President, Investor Relations

Mark Walchirk - President and Chief Executive Officer

Don Zurbay - Chief Financial Officer

Conference Call Participants

Jason Bednar - Piper Sandler

Jonathon Block - Stifel

Jeffrey Johnson - Robert W. Baird & Co.

Erin Wilson Wright - Morgan Stanley

Daniel Clark - Bank of America Merrill Lynch

Elizabeth Anderson - Evercore ISI

A.J. Rice - Credit Suisse

Christine Rains - William Blair & Company

Kevin Caliendo - UBS Equities

Operator

Good morning. My name is Chris and I will be your conference operator today. At this time, I would like to welcome everyone to the Patterson Companies Fiscal 2023 First Quarter Earnings Conference Call. All lines have been placed on mute to prevent any background noise. After the speakers' remarks, there will be a question-and-answer session. [Operator Instructions].

Thank you. John Wright, Vice President, Investor Relations, you may begin.

John Wright

Thank you, operator. Good morning, everyone, and thank you for participating in Patterson Companies fiscal '23 first quarter conference call.

Joining me today are Patterson's President and Chief Executive Officer, Mark Walchirk, and Patterson's Chief Financial Officer, Don Zurbay. After a review of the fiscal 2023 first quarter results and outlook by management, we will open the call to your questions.

Before we begin, let me remind you that certain comments 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 that is accurate only as of the date of the live broadcast, September 1, 2022. 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 first quarter fiscal 2023. The reconciliation table in our press release is provided to adjust reported GAAP measures, namely operating income/loss, 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.