Patrick Industries Q2 EPS $1.94 Beats $1.83 Estimate, Sales $920.68M Miss $944.56M Estimate
Portfolio Pulse from Benzinga Newsdesk
Patrick Industries reported Q2 earnings of $1.94 per share, beating the analyst consensus estimate of $1.83 by 6.01%. However, this is a 59.5% decrease from the same period last year. The company's quarterly sales of $920.68 million missed the analyst consensus estimate of $944.56 million by 2.53%, marking a 37.58% decrease from the same period last year.
July 27, 2023 | 12:05 pm
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Patrick Industries' Q2 earnings beat estimates but are significantly lower than last year. Sales missed estimates and are also lower than last year.
Patrick Industries' Q2 earnings beat the estimates, which is a positive signal. However, the significant decrease in both earnings and sales compared to the same period last year is a negative signal. This could potentially lead to a decrease in the company's stock price in the short term.
CONFIDENCE 90
IMPORTANCE 100
RELEVANCE 100