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

Patrick Industries

02/05/2024 14:32

* Patrick Industries Inc  PATK.OQ  reported quarterly
adjusted
earnings of $1.59​​ per share for the quarter ended in March,
higher than the same quarter last year, when the company
reported EPS of $1.35.  The mean expectation of eight analysts
for the quarter was for earnings of $1.32 per share. Wall Street
expected results to range from $1.25  to $1.40 per share.
    * Revenue rose 3.7% to $933.49 million from a year ago;
analysts
expected $839.69 million. 
    * Patrick Industries Inc's reported EPS for the quarter was
$1.59​.
    * The company reported quarterly net income of $35.09
million.
    * Patrick Industries Inc shares had fallen by 12.9% this
quarter and gained 3.7% so far this year.

FORECAST CHANGES
    * The mean earnings estimate of analysts had fallen by
about 7.8%
in the last three months.​ 
    * In the last 30 days, there have been no negative revisions
of
earnings estimates

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 $120.00 
This summary was machine generated from LSEG data May 2 at 01:32
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
 Mar. 31 2024      1.32           1.59           Beat
 Dec. 31 2023      1.35           1.41           Beat
 Sep. 30 2023      1.75           1.84           Beat
 Jun. 30 2023      1.83           1.94           Beat