Patrick Industries: Q4 Earnings Insights
Portfolio Pulse from Benzinga Insights
Patrick Industries (NASDAQ:PATK) reported Q4 earnings with an EPS of $1.49, beating estimates by 10.37% but with a revenue decrease of $170.73 million from the previous year. Despite beating EPS estimates in past quarters, such performance has previously led to a slight drop in share price the following day.
February 08, 2024 | 2:45 pm
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Patrick Industries reported a Q4 EPS of $1.49, surpassing estimates by 10.37%, but saw a significant revenue drop from the previous year. Historical data shows past earnings beats were followed by slight share price declines.
Patrick Industries' Q4 earnings beat may initially seem positive, but the significant year-over-year revenue drop and historical context of share price declines following earnings beats suggest a potential short-term negative impact on the stock price.
CONFIDENCE 80
IMPORTANCE 90
RELEVANCE 100