Patrick Industries (PATK) possesses the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.
Patrick Industries remains a 'buy' due to attractive pricing, solid growth, and strategic acquisitions despite recent RV and marine market challenges. Q3 2024 revenue grew 6.2% year-over-year, driven by powersports and manufactured housing, offsetting declines in RV and marine segments. Management's strategic acquisitions and focus on expanding market share in the outdoor enthusiast and aftermarket sectors bolster long-term growth prospects.
Does Patrick Industries (PATK) have what it takes to be a top stock pick for momentum investors? Let's find out.
Patrick Industries (PATK) has been upgraded to a Zacks Rank #2 (Buy), reflecting growing optimism about the company's earnings prospects. This might drive the stock higher in the near term.
Patrick Industries (PATK) shares have started gaining and might continue moving higher in the near term, as indicated by solid earnings estimate revisions.
PATK's solid capital allocation strategy drives long-term sustainable growth and shareholders' value.
Patrick Industries, Inc. (NASDAQ:PATK ) Q3 2024 Earnings Conference Call October 31, 2024 10:00 AM ET Company Participants Steve O'Hara - VP, IR Andy Nemeth - CEO Jeffrey Rodino - President Andrew Roeder - EVP, Finance, CFO, and Treasurer Kip Ellis - President, Powersports, Technology & Housing Conference Call Participants Scott Stember - ROTH MKM Mike Swartz - Truist Securities Daniel Moore - CJS Securities Noah Zatzkin - KeyBanc Capital Markets Craig Kennison - Baird Tristan Thomas-Martin - BMO Capital Markets Alex Perry - Bank of America Merrill Lynch Operator Good morning, ladies and gentlemen, and welcome to Patrick Industries Third Quarter 2024 Earnings Conference Call. My name is Joe, and I will be your operator for today's call.
Patrick Industries (PATK) came out with quarterly earnings of $1.80 per share, missing the Zacks Consensus Estimate of $1.83 per share. This compares to earnings of $1.81 per share a year ago.
Patrick Industries (PATK) doesn't possess the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.
Patrick Industries, Inc. (NASDAQ:PATK ) Q2 2024 Earnings Conference Call August 1, 2024 10:00 AM ET Company Participants Steve O'Hara - VP, IR Andy Nemeth - CEO Jeffrey Rodino - President Andrew Roeder - EVP, Finance, CFO, and Treasurer Conference Call Participants Daniel Moore - CJS Securities Michael Swartz - Truist Securities Craig Kennison - Baird Scott Stember - ROTH MKM Noah Zatzkin - KeyBanc Capital Markets Tristan Thomas-Martin - BMO Capital Markets Operator Good morning, ladies and gentlemen, and welcome to Patrick Industries Second Quarter 2024 Earnings Conference Call. My name is Rob and I'll be your operator for today's call.
Patrick Industries (PATK) came out with quarterly earnings of $2.16 per share, beating the Zacks Consensus Estimate of $2.04 per share. This compares to earnings of $1.94 per share a year ago.
Patrick Industries stock has increased 31.3% since last year, easily outperforming the broader market. While 2023 was weak, 2024 is showing signs of improvement, particularly on the firm's bottom line. Add on top of this how shares are priced, and the prospect of a continued recovery in key markets, and the company is worth considering.