Patrick Industries Inc reports results for the quarter ended in December - Earnings Summary

Patrick Industries

08/02/2024 17:01

* Patrick Industries Inc  PATK.OQ  reported quarterly
adjusted
earnings of $1.41​​ per share for the quarter ended in December,
lower than the same quarter last year, when the company reported
EPS of $1.68.  The mean expectation of eight analysts for the
quarter was for earnings of $1.35 per share. Wall Street
expected results to range from $1.16  to $1.45 per share.
    * Revenue fell 17.9% to $781.19 million from a year ago;
analysts
expected $774.96 million. 
    * Patrick Industries Inc's reported EPS for the quarter was
$1.41​.
    * The company reported quarterly net income of $30.82
million.
    * Patrick Industries Inc shares had risen by 3.1% this
quarter.

FORECAST CHANGES
    * The mean earnings estimate of analysts had fallen by
about 3.3%
in the last three months.​ 
    * In the last 30 days, one analyst negatively revised an
earnings
estimate

RECOMMENDATIONS
    * The current average analyst rating on the shares is "buy"
and
the breakdown of recommendations is 6 "strong buy" or "buy," 1
"hold" and 1 "sell" or "strong sell." 
    * The average consensus recommendation for the construction
supplies & fixtures peer group is also "buy"

Wall Street's median 12-month price target for Patrick
Industries Inc is $105.00 
This summary was machine generated from LSEG data February 8 at
05:01 p.m. UTC. ​All figures in US dollars unless otherwise
stated. (For questions concerning the data in this report,
contact Estimates.Support@lseg.com. For any other questions or
feedback, contact RefinitivNewsSupport@thomsonreuters.com) QUARTER ENDING    ESTIMATE       ACTUAL         BEAT, MET,
                                                 MISSED
 Dec. 31 2023      1.35           1.41           Beat
 Sep. 30 2023      1.75           1.84           Beat
 Jun. 30 2023      1.83           1.94           Beat
 Mar. 31 2023      1.14           1.35           Beat