Patterson Companies Annual Report 2024

FY2024 Annual Report · Patterson Companies
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ALWAYS  
ADVANCING
2024 ANNUAL REPORT

Letter to shareholders
Patterson’s Fiscal 2024 was a year of strategic focus and execution in a dynamic and  
evolving macroenvironment, marked by our sustained commitment to always advancing. 
Our results reﬂected top line growth and ongoing cost discipline measures, balanced 
against strategic investments to further enhance our capabilities while also returning 
cash to our shareholders. Our performance reﬂects the strength of our team and 
competitive position as well as the attractive and resilient end markets we serve.
In our dental segment, Patterson’s consumables business outperformed a market supported by steady 
patient traffic and the growing importance of oral health. Patterson’s comprehensive offering, including 
our differentiated value proposition in dental equipment and technology, resonates with customers of  
all practice models.
Patterson’s animal health segment delivered sales growth and operating margin expansion, continuing  
to validate the effectiveness of our broad offering of products and services across a number of channels 
and a variety of animal species. We remain encouraged by the positive underlying market fundamentals 
across the entire animal health end market, driven by increased spending on pets and higher global 
demand for protein.
Throughout Fiscal 2024, we continued to execute our strategy to achieve four core objectives:
• Drive revenue growth above current end market growth rates
• Build upon the progress we've made to enhance our margin performance
• Evolve our products, channels and services to best serve our customers
• Improve efficiency and optimization across the enterprise
Our investments to improve our distribution capabilities and enhance our software and services offerings 
have advanced our core objectives across both our dental and animal health segments. We believe 
expanding our suite of value-added solutions tailored to our customer needs presents a long-term growth 
opportunity for Patterson. Additionally, our successful acquisitions of DairyTech, RSVP and ACT provide a 
roadmap for value-enhancing M&A that we continue to pursue.
Looking ahead to Fiscal 2025, we remain conﬁdent in our strategy focused on investing to drive enhanced 
growth and proﬁtability over the long term. We believe our culture, strategy, and people position Patterson 
to continue delivering value for our customers and shareholders.
Very truly yours, 
Donald J. Zurbay 
President and Chief Executive Officer 
August 2, 2024
Forward-looking statements made in this letter are subject to the cautionary statements in the Company’s Form 10-K, ﬁled with the Securities and 
Exchange Commission on June 18, 2024, under the headings “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition 
and Results of Operations.” 

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Corporate Headquarters
1031 Mendota Heights Road 
St. Paul, MN 55120-1419 
651.686.1600 
www.pattersoncompanies.com
Independent Auditors
Ernst & Young LLP 
Minneapolis, MN
Legal Counsel
Taft Stettinius & Hollister LLP 
Minneapolis, MN
Stock Transfer Agent
EQ Shareowner Services 
1110 Centre Pointe Curve, Suite 101 
Mendota Heights, MN 55120-4100 
1-800-401-1957
Investor Relations Contact
John M. Wright 
Vice President, Investor Relations
Annual Meeting
The annual meeting of shareholders of 
Patterson Companies, Inc. will be held 
virtually at 4:30 p.m., Central Daylight 
Saving Time, on Monday, September 16,  
2024. To attend the annual meeting 
online, listen to the meeting live, 
submit questions and vote, please visit 
www.virtualshareholdermeeting.com/ 
PDCO2024.
Form 10-K
A copy of our annual report on  
Form 10-K is available to shareholders 
without charge in the investor relations 
section of the Patterson website  
(www.pattersoncompanies.com)  
or by writing to: John M. Wright,  
Vice President, Investor Relations at  
the corporate headquarters.
Directors
John D. Buck (C, D)
Chairman of the Board, 
Chief Executive Officer 
Whiteﬁsh Ventures, LLC
Donald J. Zurbay
President and  
Chief Executive Officer 
Patterson Companies, Inc. 
Meenu Agarwal (A, C)
Senior Vice President and 
General Manager 
Equifax Workforce Solutions
Alex N. Blanco (B, C, D)
Former Executive Vice President  
and Chief Supply Chain Officer 
Ecolab Inc.
Jody H. Feragen (A, B)
Former Executive Vice President  
and Chief Financial Officer 
Hormel Foods Corporation
Robert C. Frenzel (A, D)
Chairman, President and 
Chief Executive Officer 
Xcel Energy Inc.
Philip G. J. McKoy (A, C)
Enterprise Lead,  
Services & Integration 
Optum 
Ellen A. Rudnick (A, B)
Senior Advisor on Entrepreneurship 
University of Chicago  
Booth School of Business
Neil A. Schrimsher (B, C, D)
President and 
Chief Executive Officer 
Applied Industrial Technologies, Inc.
Pamela J. Tomczik (A)
Senior Vice President, Treasurer and  
Corporate Development 
Target Corporation
(A) Member of Audit and Finance Committee
(B)  Member of Compensation and Human 
Capital Committee
(C)  Member of Compliance Committee
(D)  Member of Governance and  
Nominating Committee
Executive Officers
Donald J. Zurbay
President and  
Chief Executive Officer
Kevin M. Barry
Chief Financial Officer
Samantha L. Bergeson
Chief Human Resources Officer 
Les B. Korsh
Chief Legal Officer and  
Corporate Secretary 
Kevin M. Pohlman
Chief Operating Officer
CORPORATE INFORMATION

We are  
FOCUSED.
We deliver results the 
right way. We are clear 
on our priorities, set 
high expectations and 
are accountable for our 
commitments to our customers 
and each other.
We are ALWAYS  
ADVANCING.
We continually seek fresh 
ideas and innovative solutions 
for our business and our 
customers. We challenge 
ourselves and strive to 
become better every day.
We are  
PASSIONATE.
We are excited about our 
business and authentic in  
our motivation.
We are  
PEOPLE-FIRST.
We build lasting relationships 
and invest in our team 
members, customers and 
partners.
WE ARE PATTERSON
1031 Mendota Heights Road     |     St. Paul, MN 55120-1419     |     651.686.1600     |     pattersoncompanies.com
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