Patrick Industries, Inc. Reports First Quarter 2020 Financial Results

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Go back to Patrick Industries, Inc. Reports First Quarter 2020 Financial Results

Patrick Industries (PATK) Tops Q1 EPS by 19c

April 30, 2020 8:11 AM EDT

Patrick Industries (NASDAQ: PATK) reported Q1 EPS of $0.91, $0.19 better than the analyst estimate of $0.72. Revenue for the quarter came in at $589.2 million versus the consensus estimate of $584.89 million.

2020 Outlook

"As we progress through the second quarter, our cost reduction and financial management measures that were implemented late in the first quarter remain in place," added Mr. Nemeth. "We have recently taken additional steps to further reduce our fixed cost structure to align with projected revenues, consolidating certain like-product facilities as appropriate to maximize efficiencies, and have eliminated approximately $35... More