Patrick Industries (PATK) Tops Q1 EPS by 11c

Patrick Industries (NASDAQ: PATK) reported Q1 EPS of $1.35, $0.11 better than the analyst estimate of $1.24. Revenue for the quarter came in at $900 million versus the consensus estimate of $845.44 million.

Business Outlook and Summary

\"We remain optimistic about the long-term outlook for all our end markets and believe we are well positioned to not only take advantage of strategic opportunities that present themselves in the short term, but to also pivot and drive utilization and capitalize on opportunities that arise when our markets stabilize and rebound,\" said Mr. Nemeth. \"We understand the headwinds we face as elevated interest rates, inflation, and macroeconomic uncertainty have weighed on our end markets. We are confident in the strength of our balance sheet, liquidity and our favorable long-term capital structure with no material debt maturities until 2027. Our strong operating platform and diversified business model with less reliance on a single end market has improved our financial resilience and helped to ensure greater stability despite the dynamics of the current business backdrop.\"

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

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