Patrick Industries, Inc. Reports Third Quarter 2020 Financial Results
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Patrick Industries (PATK) Tops Q3 EPS by 34c, Revenues Beat
October 29, 2020 8:05 AM EDTPatrick Industries (NASDAQ: PATK) reported Q3 EPS of $1.62, $0.34 better than the analyst estimate of $1.28. Revenue for the quarter came in at $700.7 million versus the consensus estimate of $671.76 million.
Third Quarter 2020 Highlights (all metrics compared to Third Quarter 2019 unless otherwise noted)Net sales of $700.7 million increased 24% with strong demand in RV, marine and industrial marketsOperating income of $59.8 million increased 60%Net income of $37.3 million increased 75%Diluted EPS of $1.62 increased 76%Strategic acquisitions of Inland Plywood, Synergy RV Transport and Front Range StoneOctober 29, 2020 8:00 AM EDT
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