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Patrick Industries, Inc. (PATK)
:PATK
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Earnings Data
Report Date
Feb 06, 2025TBA Not Confirmed
Period Ending
2024 (Q4)Consensus EPS Forecast
0.52Last Year’s EPS
0.94Same Quarter Last Year
Moderate Buy
Based on 8 Analysts Ratings
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Earnings Call Summary
Earnings Call Date:Oct 25, 2018
|% Change Since: 4.25%
|Next Earnings Date:Jul 26, 2018
Earnings Call Sentiment|Positive
The earnings call reflects a generally positive outlook with strong top-line growth, strategic acquisitions, and solid financial management. Despite facing challenges in specific segments like RV and Powersports, the company is well-positioned with a strong balance sheet and strategic initiatives in place for future growth.Company Guidance
During the Patrick Industries Q3 2024 earnings call, the company provided guidance reflecting a cautiously optimistic outlook amidst ongoing industry challenges. For the third quarter, the company reported a top-line growth of 6% with revenues reaching approximately $919 million and a net income increase of 3% to $41 million, translating to earnings per diluted share of $1.80. The adjusted EBITDA rose by 7% to $121 million, with an EBITDA margin slightly improving by 10 basis points to 13.2%. Despite anticipated reductions in production due to disciplined inventory management by OEMs, a revenue reduction of approximately $50 million to $60 million is expected, partially offset by the recent acquisition of RecPro. The company's strategic initiatives, including diversification, M&A strategy, and advanced product innovations, are seen as pivotal for sustaining growth. Looking forward, Patrick Industries anticipates moderate improvements in operating margins by 70 to 90 basis points in 2025, attributed to expected consumer confidence recovery and potential interest rate reductions.Top-Line Growth and Revenue Increase
The company reported a top-line growth of 6% in the third quarter, resulting in a revenue of approximately $919 million. On a trailing 12-month basis, revenue was approximately $3.7 billion.
Growth in Housing Revenue
Housing revenue increased by 13% to $300 million, representing 32% of consolidated sales. This growth was driven by better-than-expected demand for affordable housing.
Marine Segment Growth
Marine revenues increased by 21% from the prior year, representing 15% of consolidated sales. Content per unit was up 3% year-over-year and 7% sequentially.
Acquisition of RecPro
The acquisition of RecPro establishes an aftermarket platform, significantly increasing exposure to the aftermarket and creating synergies with Marine and Powersports brands.
Strong Balance Sheet and Liquidity
The company ended the quarter with a strong balance sheet, liquidity of approximately $755 million, and completed a refinancing to improve liquidity and reduce annualized interest expense.
Adjusted EBITDA Increase
Adjusted EBITDA increased by 7% to $121 million, with an adjusted EBITDA margin up 10 basis points to 13.2%.
Advanced Product Innovation
Investments in advanced product innovation have been made, with new products like SeaDek's magnetic solution and the MTXT composite board gaining traction.
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PATK Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
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PATK Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
| Oct 31, 2024 | $88.94 | $83.61 | -5.99% |
| Aug 01, 2024 | $84.64 | $83.16 | -1.75% |
| May 02, 2024 | $68.45 | $72.58 | +6.03% |
| Feb 08, 2024 | $67.72 | $69.02 | +1.92% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
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FAQ
When does Patrick Industries, Inc. (PATK) report earnings?
Patrick Industries, Inc. (PATK) is schdueled to report earning on Feb 06, 2025, TBA Not Confirmed.
What is Patrick Industries, Inc. (PATK) earnings time?
Patrick Industries, Inc. (PATK) earnings time is at Feb 06, 2025, TBA Not Confirmed.
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is PATK EPS forecast?
PATK EPS forecast for the fiscal quarter 2024 (Q4) is 0.52.
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