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.
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.