And Thank quarter John. fiscal welcome year everyone 'XX you, to call. and fourth earnings full Patterson's
lot to cover We have a today.
let overview me a for call. provide the So brief
full our will the results. fiscal I quarter fourth performance First, and review of highlights year
and operating top-line excellent expansion I a by an had growth, up. questions. Patterson taking our year segment our will additional I on To it then guidance. Don, deeper quarter fiscal with conclude perspective call the turn and sum our dive your assumptions And continuing environment financial will performance our color the Next, key to I to shareholders. how affect expect margin will fiscal conclude Then, macroeconomic and on markets. into cash on of and and 'XX will to 'XX a who end over bit results provide our some we return Don finally, to fourth culminating then current details Companies
of our three fourth execution ongoing focus reflect results Patterson and key first, Our the quarter factors, team. fiscal world-class
animal strength double-digit year-over-year and our and sales business. We Patterson category. our we dental differentiated achieved attractive serve health both growth companion continued segments the operating quarter 'XX, production and our growth expansion dental of double-digit customers. value animal fourth our our that and the business In fiscal animal third, margin X%. and in adjusted we margin internal adjusted driven an of business in proposition delivered of equipment achieving markets overall, in resilient Patterson's of in for for year-over-year and Second, X% operating growth by over
manage proud ultimately, accomplished of maintained sustained effectively of of and we added in share and capped off our revenue We resulted track in quarter. drive of our I'm for team to cost earnings efforts growth. record incredibly and our per We diluted mix continued a and to fourth improvements adjusted and earnings the multi-year our $X.XX structure strong performance year momentum quarter. fiscal what full our the
animal our sales 'XX our the post year-over-year year-over-year, upon recent We XX% history sales X% fiscal primarily over health. 'XX, dental proud of improved growth adjusted effective adjusted especially EPS prior growth growth. capital over working Patterson from X% in For given margin double-digit X% on with in full grew internal fiscal our EPS sales delivered expansion. sales in achieve top flow fiscal growth on Patterson internal commitment year, cash it And and over record of year, We're performance, management. the growth fiscal occurred in growth delivered nearly of year XX% to full generated operating 'XX building 'XX. finally, We
nearly ability our the for growth, adjusted to has averaged we significant deliver Over three demonstrating years, do value for EPS customers. our just past as our shareholders, XX% Patterson
strategy clear evidence results Our our is years strong financial over several the past working. is that
and in we focus and our teams they also dentists, operations serve. That landscape. exceptional customer have evident during has proposition prioritized value strong growing field investments lasting our Patterson technicians, to productivity, excellence, producers the seized to to This COVID-XX operational rigorous build is grown expert serve tools and Notably, that markets. deepened our disruption of they allowed the partner drive profound is deliver healthy the our Patterson ensuring top-line. in Patterson strategy. outperforming markets to have line the that service and relationships. challenges enabling also we've pandemic end and across indispensable support service customer value balanced performance we've customers we margin their And opportunities our performance and to an the our a and the on cash organization to and shareholders believe as We've in as Patterson's navigated people us a sales with veterinarians capital operating expansion value and as allocation maintained in reinforce return to provides position our need strengthened our our dynamic We pandemic belief
investments operational core to sales and while drive our to prioritizes strategic in shareholders execution, considering business strategy Our and M&A. excellence cash returning
dividends through shareholders During fiscal $XXX returned Patterson and to repurchases. million share 'XX, our our
Now, the performance a deeper each dive fiscal bit drivers of quarter. in during I'll our into segments fourth the
with business. our dental Let's start first
in digital XX% of dentists partner During particularly Fiscal as quarter nearly its practices. equipment we of dental investing new both driven equipment grew CAD/CAM grew lived their driven and the growth building revenue up performance fiscal technology quarter out strong for products. a over to our double-digit and technology for fourth by sales internal in fourth X.X% 'XX, reputation key by category. Patterson
learned Our proposition fundamental demonstrating our and fiscal the of Patterson’s strong quarter the was strength continuation in position momentum, value market. dentists the fourth a equipment we've for of performance competitive
averaged dental fiscal XX% For nearly year-over-year growth eight quarters, has in equipment. the Patterson past
that dental installing in and speaks and latest customers our position and believe We equipment the sets service market leadership support proposition Patterson's Technology apart our the our practices. digital offering servicing innovation comprehensive us and expertise unparalleled Center, Our equipment, of technologies to demand and in of selling, us allows modernization Patterson training growth. including today's value driving on is the to capitalize for the dental and
core as their continued practices. dentists continue positive strong demand We growth to in equipment also for saw and invest
to closely While persisted, continues manufacturer equipment these challenges meet deliver chain our in install and supply category core products. the demand and work Patterson with to partners have
On stabilized. the side, products continue for consumable demand generally control infection to and reliably deliver critical products we these has the
consumables segment pandemic supply fiscal we spectrum from products, growth considerably experience highs well in improved as for our in has pressure revenue our non-infection In the to to and gloves and category. the expanding Demand as practices certain entire Patterson and depth quarter. breadth control achieved for private X% continue pricing PPE infection consistent industry as as chain of products for and speaks declined traffic regional control in the patient VSOs. those year-over-year However, independent of across its relationships from the the has fourth that deflationary such to customers with portfolio national
factors. top-line, in fiscal the we quarter XX% several operating our as result of segment dental margin adjusted strong a the grew posted a also fourth key As
sales exceed First, sales enabling achieve volumes manufacturer rebates. operating quarter, to higher the leverage the in targets and drove us
sales dollars. it's and targets others us In Some achieving to that execution us manufacturers fiscal scenario, targets year strong our either year. for these achieve calendar reward additional margin have tied helps our
operational efficiency. Second is
our realize to support and the investments technologies that tools continue our productivity. We team's of benefits in ongoing
offerings both the branch also finally, while ability our For improving enhanced manage system our portfolio ERP example, is centers, distribution of service the in technicians and distribution and And efficiencies efficiency center continue fourth products and for we and fiscal their dental our congratulate the accretive customers. with I private our great new for quarter label entire margin to performance promotional want throughout in expand 'XX. at our our driving to office optimizing to inventory team level. our
and quarter animal Internal the results rooted animal value serve omnichannel with vet drive segment, those the in at digit approximately our across to customers producer 'XX. key exceed health their a animal health partners. is and built veterinarians driven animal in presence health double-digit onsite our Turning We the set that mid-single by of than is veterinary believe with production meet for Patterson's faster fourth marking local now supply to of retailer driver an helps is animal. X% in From This entire having strong their us offers finish strategy market. animal on growth fourth and differentiator our to customers key presence to Patterson's sales solutions in market deep clinics a and ability distribution grow our proposition fiscal outstanding omnichannel health team expectations. the operations delivered quarter independent large grew go-to-market broad a manufacturer to to with loyalty our to a companion enabling capabilities growth market. shopping
X% products, execution, of on adjusted driven nearly of an our mix, private XX margin strong increase the sales and points. of in animal focus In over addition prior emphasis ongoing performance the including by top-line our discipline. growth on label to achieved segment year This our our the quarter, health basis expense continued managing fourth fiscal operating was growth, the
and strategic to We take partners off. and optimize develop sales market, animal. us help collaborative pay performance monitor value clear, throughout and continues and our and partners a our strategic with they in to our for our customer animal approach action of across to strategic are to execution. our execution, develop process The entire added our approach and regularly a vendor Additionally, deep results we health mutually drive year to meet reward partners working plan marketing animal disciplined the plans share joint beneficial relationships the with companion both production purposeful turn,
presence all our and channels our our Importantly, omnichannel all drive partners ability and strategic to species. value growth across
pet Now of reflected occur within levels let continued expected fiscal fourth we driven lacked to fiscal in pandemic. sales two segments. growth and digit the quarter pets new our that We drill 'XX unprecedented our throughout achieve by health as the companion animal attention moderation in This of we to animal increased growth down business business mid-single 'XX. ownership the me the
rate When approximately fiscal XX% also a nearly up knew take animal step difficult be would our over last back the you in look animal the our comparison you'll fourth year-over-year averaged sales internal see sales We our at XX%. growth internal year the companion two period. years, a ago were that companion performance quarter and as has
solutions private sales Additionally, The our quarter. in sales plays on success technology their the that us strong that recognize performance. that companion deliver focus role and achieved can fit improving in improved by team's Of for that enables our product margin driving of equipment animal Patterson on double-digit categories label business equipment demonstrates we the in they top mix count critical note, growth needs. the to higher practices demand both our fourth the provide in products bottom-line our customers to and believe of and the
we delivered animal the growth sales fourth fiscal production quarter. side, the in double-digit On internal
partners we vendor species. production Our mutual in competitive channels our strategic us our market, to approach planning and position allowing key the with to believe driving outpacing market continue has growth strengthened is all across the that
animal throughout production animal excellent partners growth for strength of an also sales of is act our double-digit clear entire customers. quarter's performance want quarter the great trusted congratulate and fiscal 'XX. and our I fiscal their team health team fourth as to our to This them for evidence their ability thank to
over color anticipate then before some our offer on to want 'XX in morning to current and guidance 'XX. help several operating have issued bridge Now 'XX financial Don expansion fiscal the Patterson provide you growth today brief I the of turn year-over-year the depth the results I our some fiscal this environment and guidance view fiscal call we modeling the on delivering macro markets. revenue is into walk on for our to committed assumptions we implications comments guidance will 'XX. margin fiscal Don, to end our to and and go we in announced through more
and end since macroeconomic has more that macro in clearly was a our of see than end challenging coming the few the how the today me certainly environment we economic outlook And markets months. touch Let ago. short The on our it fiscal 'XX. months changed now is impacting the environment just
in assumes In the trends, the economy broader have office impact rates, reduction demand higher not meaningful dental moderate market, while patient guidance inflationary lead slowdown could we in on yet will current visits, end for in overall macro Our slowdown dental have our services. observed environment and and we potential a that a to believe markets. a the that interest modest current a traffic,
practice rates technology equipment spending could addition, and products. In higher future interest impact on
population environment, of dental prospects the in the link aging direct attractive modernization fundamentals with between light oral current health. long-term health and the the market remain an macro and even patient's practice of a the of However, overall
in per these trending visit the In through industry over strong vet the remain cycles. Looking experience clinic navigate team to been our past market, moderating, market, and has our the animal depth has position broader in Patterson's market been ahead, the spend confident of year. fundamentals. various we traffic companion ability and dental while higher
these animal companion market our of and parts tied of Importantly, pets. business to on treatment spending consumer believe we discretionary and habits. prevention focuses the more durable And less are
increased for pets impacting to the believe the In runway pet feed owners have costs, the trends those long-term production such population pre-pandemic and continue a attention above that of on fuel to and long-term that sustainable ample market, growth larger and the inflationary We for provides to achieve trend Patterson support pressure as growth profitability. rate and levels. negatively producer input spending been
continue a in health to even and prioritize animals of environment, with economic Patterson herd closely However, improve challenging efficiency. we expect the ensure work will operational to producers their health and
performance challenges shareholders. full over year value the that, while our and fiscal more continue business in navigating end drive dynamic continuing in both our and 'XX record our business model, confident successfully call fourth we we the of customers I'll strong turn our to for track of to and market to to durable discuss environment our end And are resilient Don team, monitor quarter with segments, external As detail. across markets proven