Patrick Industries (NASDAQ: PATK) reported Q4 EPS of $1.64, $0.20 better than the analyst estimate of $1.44. Revenue for the quarter came in at $772.6 million versus the consensus estimate of $699.42 million.

Fourth Quarter 2020 Highlights (all metrics compared to Fourth Quarter 2019 unless otherwise noted)

• Net sales of $772.6 million increased 41%, driven by strong demand across all market sectors
• Operating income of $62.2 million increased 73%
• Operating margin of 8.0% increased 150 basis points
• Net income of $37.8 million increased 89%
• Diluted earnings per share of $1.64 increased 91%
• Completed strategic acquisitions of Geremarie and Taco Metals, further expanding our presence within the marine industry Full Year 2020 Highlights (all metrics compared to 2019 unless otherwise noted)
• Net sales of $2.5 billion increased 6%
• Operating income of $173.4 million increased 12%
• Operating margin of 7.0% increased 40 basis points
• Net income of $97.1 million increased 8%
• Diluted earnings per share of $4.20 increased 9%
• Seven strategic acquisitions: four in the marine market, two in the recreational vehicle market and one in the industrial markets

"Momentum and tailwinds supporting both retail and wholesale shipments in the recreational vehicle and boating markets remained strong through the fourth quarter as outdoor recreation has seen significant growth in popularity during the COVID-19 pandemic, reinforcing our view of the attractiveness and resilience of our leisure lifestyle markets," said Andy Nemeth, President and Chief Executive Officer. "The size, scale and flexibility of our operating and financial platform allowed us to execute strategically and tactically during the quarter, and leverage our fixed cost structure to drive increased profitability during this period of strong demand. We continued to accelerate capital investments in our infrastructure, including automation and capacity expansion, which will allow us to flex our operations in this dynamic environment, and we reinforced our investments in human capital initiatives to develop, retain and enhance the well-being of our team members. We further expanded our product offerings and presence in the marine OEM market and aftermarket with the acquisitions of Geremarie and its state-of-the-art, highly automated operations as well as the innovative and creative Taco Metals in the fourth quarter of 2020."

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