Patrick Industries, Inc. Reports Third Quarter and Nine Months 2019 Financial Results
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Patrick Industries (PATK) Misses Q3 EPS by 4c, Revenues Miss
October 24, 2019 8:03 AM EDTPatrick Industries (NASDAQ: PATK) reported Q3 EPS of $0.92, $0.04 worse than the analyst estimate of $0.96. Revenue for the quarter came in at $566.2 million versus the consensus estimate of $576.97 million.
Todd Cleveland, Chairman and Chief Executive Officer, said, "Our financial results in the third quarter were negatively impacted by continued RV dealer inventory rebalancing as dealers position themselves for the upcoming 2020 model selling season. In addition, following weather related softness in marine retail sales in the first half of 2019, we saw inventory recalibration by marine... More
