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Patrick Industries, Inc. (PATK)
:PATK
Earnings Data
Report Date
Apr 24, 2025TBA Not Confirmed
Period Ending
2025 (Q1)Consensus EPS Forecast
0.97Last Year’s EPS
1.19Same Quarter Last Year
Moderate Buy
Based on 8 Analysts Ratings
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Earnings Call Summary
Earnings Call Date:Feb 06, 2025
|% Change Since: -2.37%
|Next Earnings Date:Apr 24, 2025
Earnings Call Sentiment|Neutral
The earnings call highlighted Patrick Industries' strategic growth through acquisitions and a solid performance in the housing market. However, there were significant challenges in the Marine market and reduced profitability. Despite these challenges, the company remains optimistic about future growth opportunities.Company Guidance
During the fourth quarter of 2024, Patrick Industries provided guidance indicating strong financial performance and strategic growth initiatives. The company reported an 8% increase in sales, reaching $846 million, and a full-year sales growth of 7%, totaling $3.7 billion. Adjusted net income per diluted share was $0.52 for the quarter and $4.34 for the full year. The company highlighted its strategic acquisitions, including Sportech and RecPro, which expanded its presence in the Powersport and aftermarket sectors, respectively. Patrick Industries also emphasized its focus on organic growth, targeting a 2% to 3% annual increase through new products and innovations. The guidance projected that RV and Marine markets are near cyclical lows, with expected long-term growth, while the housing market showed solid demand for affordable housing. The company ended the year with a total net liquidity of approximately $804 million, providing substantial flexibility for executing strategic opportunities in 2025.Sales Growth
Fourth quarter sales growth of 8%, equating to sales of $846 million. Full year 2024 sales grew 7% to $3.7 billion.
Strategic Acquisitions
Expanded presence in the Powersport space through the acquisition of Sportech and enhanced aftermarket capabilities with the acquisition of RecPro.
Debt Refinancing
Completed a debt refinancing that improved liquidity, reduced the cost of fixed-rate debt, and extended maturity profile.
Housing Market Performance
Housing revenues increased 12% to $288 million in Q4, driven by demand for manufactured housing. MH content per unit increased 4% to $6,604 for the full year.
Cash Flow and Liquidity
Cash provided by operations was approximately $327 million for 2024, with free cash flow of $251 million. Total net liquidity at the end of 2024 was approximately $804 million.
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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 |
|---|---|---|---|
| Feb 06, 2025 | $97.28 | $94.61 | -2.74% |
| Oct 31, 2024 | $88.57 | $83.26 | -6.00% |
| Aug 01, 2024 | $84.29 | $82.81 | -1.76% |
| May 02, 2024 | $68.16 | $72.28 | +6.04% |
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 Apr 24, 2025, TBA Not Confirmed.
What is Patrick Industries, Inc. (PATK) earnings time?
Patrick Industries, Inc. (PATK) earnings time is at Apr 24, 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 2025 (Q1) is 0.97.
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