Patterson Companies, Inc. (NASDAQ:PDCO) Q2 2024 Results Conference Call November 29, 2023 8:30 AM ET

Company Participants

John Wright - VP of Investor Relations

Don Zurbay - President and Chief Executive Officer

Kevin Barry - Chief Financial Officer

Conference Call Participants

Brandon Vazquez - William Blair

Jon Block - Stifel

Jeff Johnson - Baird

Kevin Caliendo - UBS

Sameer Patel - Evercore ISI

Allen Lutz - Bank of America

John Stansel - JPMorgan

Operator

Thank you for standing by, and welcome to the Patterson Companies, Inc. Second Quarter Fiscal 2024 Earnings Conference Call. I would now like to welcome John Wright, VP of Investor Relations, to begin the call. John, over to you.

John Wright

Thank you, operator. Good morning, everyone. And thank you for participating in Patterson Companies fiscal 2024 second quarter conference call. Joining me today are Patterson President and Chief Executive Officer, Don Zurbay; and Patterson Chief Financial Officer, Kevin Barry. After a review of our results and outlook by management, we will open the line 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, November 29, 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 Web site at pattersoncompanies.com.

Please note that in this morning's conference call, we will reference our adjusted results for the second quarter of fiscal 2024. The reconciliation tables in our press release are provided to adjust various reported GAAP measures for the impact of deal amortization and an interest rate swap along with any related tax effect of these items. We will also discuss free cash flow as defined in our earnings release, which is a non-GAAP measure and use the term internal sales to represent net sales adjusted to exclude the impact of foreign currency, contributions from recent acquisitions and the net impact of an interest rate swap. These non-GAAP measures are not intended to be a substitute for our GAAP results. This call is being recorded and will be available for replay starting today at 10:00 a.m. Central Time for a period of one week.