Patrick Industries (PATK) Tops Q1 EPS by 28c

Patrick Industries (NASDAQ: PATK) reported Q1 EPS of $1.12, $0.28 better than the analyst estimate of $0.84. Revenue for the quarter came in at $345.43 million versus the consensus estimate of $328.29 million.

Todd Cleveland, President and Chief Executive Officer, said, "We are pleased with our first quarter revenue performance and profitability, which are a result of the continued execution of our strategic and operational initiatives and reflect a strong start to the year in the markets we serve. Manufacturer and dealer sentiment remains positive as we head into the second quarter and the height of the selling season in anticipation of strong retail traffic on dealer lots and expected continued year-over-year growth. Additionally, the MH industry continues to gain strength along with optimism in the residential housing markets, and both our MH and industrial businesses are outperforming their respective markets."

For earnings history and earnings-related data on Patrick Industries (PATK) click here.

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