{"version":"1.0","provider_name":"Brakke\u54a8\u8be2\u7f51\u7ad9","provider_url":"https:\/\/brakkeconsulting.com\/zh","title":"News from Brakke Consulting","type":"rich","width":600,"height":338,"html":"<blockquote class=\"wp-embedded-content\" data-secret=\"DRhRVRTvtr\"><a href=\"https:\/\/brakkeconsulting.com\/zh\/brakke-viewpoint-november-3-2023\/\">\u5e03\u62c9\u514b\u89c2\u70b9 2023 \u5e74 11 \u6708 3 \u65e5<\/a><\/blockquote><iframe sandbox=\"allow-scripts\" security=\"restricted\" src=\"https:\/\/brakkeconsulting.com\/zh\/brakke-viewpoint-november-3-2023\/embed\/#?secret=DRhRVRTvtr\" width=\"600\" height=\"338\" title=\"\u300a Brakke Viewpoint November 3, 2023 \u300b\u2014Brakke Consulting Website\" data-secret=\"DRhRVRTvtr\" frameborder=\"0\" marginwidth=\"0\" marginheight=\"0\" scrolling=\"no\" class=\"wp-embedded-content\"><\/iframe><script type=\"text\/javascript\">\n\/* <![CDATA[ *\/\n\/*! This file is auto-generated *\/\n!function(d,l){\"use strict\";l.querySelector&&d.addEventListener&&\"undefined\"!=typeof URL&&(d.wp=d.wp||{},d.wp.receiveEmbedMessage||(d.wp.receiveEmbedMessage=function(e){var t=e.data;if((t||t.secret||t.message||t.value)&&!\/[^a-zA-Z0-9]\/.test(t.secret)){for(var s,r,n,a=l.querySelectorAll('iframe[data-secret=\"'+t.secret+'\"]'),o=l.querySelectorAll('blockquote[data-secret=\"'+t.secret+'\"]'),c=new RegExp(\"^https?:$\",\"i\"),i=0;i<o.length;i++)o[i].style.display=\"none\";for(i=0;i<a.length;i++)s=a[i],e.source===s.contentWindow&&(s.removeAttribute(\"style\"),\"height\"===t.message?(1e3<(r=parseInt(t.value,10))?r=1e3:~~r<200&&(r=200),s.height=r):\"link\"===t.message&&(r=new URL(s.getAttribute(\"src\")),n=new URL(t.value),c.test(n.protocol))&&n.host===r.host&&l.activeElement===s&&(d.top.location.href=t.value))}},d.addEventListener(\"message\",d.wp.receiveEmbedMessage,!1),l.addEventListener(\"DOMContentLoaded\",function(){for(var e,t,s=l.querySelectorAll(\"iframe.wp-embedded-content\"),r=0;r<s.length;r++)(t=(e=s[r]).getAttribute(\"data-secret\"))||(t=Math.random().toString(36).substring(2,12),e.src+=\"#?secret=\"+t,e.setAttribute(\"data-secret\",t)),e.contentWindow.postMessage({message:\"ready\",secret:t},\"*\")},!1)))}(window,document);\n\/\/# sourceURL=https:\/\/brakkeconsulting.com\/wp-includes\/js\/wp-embed.min.js\n\/* ]]> *\/\n<\/script>","description":"It\u2019s earnings season and several companies\u2019 reports are listed in today\u2019s newsletter.\u00a0 For the most part, revenue and earnings for animal health and petfood companies have remained strong. Interestingly, many stock analysts interpret individual company\u2019s revenues in the context of declining veterinary visits for pets.\u00a0 But is that a good metric?\u00a0 Veterinary expenses are paid out of discretionary income.\u00a0 During the pandemic, when the government was pumping money into the economy \u2013 and many people were home and could easily take their pet to the vet \u2013 veterinary visits increased faster than normal. Now, as household discretionary income is returning to normal, so are vet visits.\u00a0 Yes, veterinary visits have declined from their highs.\u00a0 But most practices are still very busy and practice owners tell us that they are seeing more normal visit patterns emerge.\u00a0 Is it really appropriate to evaluate current revenues in light of a possible sales bump during the pandemic?\u00a0 Perhaps it\u2019s best to ignore the pandemic bubble when looking at company performance, and judge based on a longer-term perspective. John Volk"}