Patterson Companies, Inc. (NASDAQ:PDCO) Q4 2022 Earnings Conference Call June 29, 2022 8:30 AM ET

Corporate Participants

John Wright - Vice President, IR

Mark Walchirk - President and Chief Executive Officer

Don Zurbay - Chief Financial Officer

Conference Call Participants

Erin Wright - Morgan Stanley

Jason Bednar - Piper Sandler

Jeff Johnson - Baird

Nathan Rich - Goldman Sachs

Jon Block - Stifel

Kevin Caliendo - UBS

Justin Lin - William Blair

Elizabeth Anderson - Evercore ISI

Operator

Good morning. My name is Rob, and I will be your conference operator today. At this time, I would like to welcome everyone to the Patterson Companies Fourth Quarter Fiscal Year 2022 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, Investor Relations, Vice President, you may begin your conference.

John Wright

Thank you, operator. Good morning, everyone and thank you for participating in Patterson Companies fiscal '22 fourth quarter and full year 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 2022 fourth quarter and full year 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, June 29, 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 fourth quarter and full year fiscal '22. The 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 gains on investments, inventory donation charges, deal amortization, legal reserves and integration and business restructuring expenses, along with the related tax effects of these items.