Patrick Industries Q3 2024 Adj EPS $1.80 Misses $1.84 Estimate, Sales $919.44M Miss $937.66M Estimate
Portfolio Pulse from Benzinga Newsdesk
Patrick Industries reported Q3 2024 earnings of $1.80 per share, missing the consensus estimate of $1.84. Sales were $919.44 million, below the expected $937.66 million. Despite missing estimates, sales increased by 6.16% compared to the same period last year.
October 31, 2024 | 12:01 pm
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NEGATIVE IMPACT
Patrick Industries' Q3 2024 earnings and sales both missed analyst estimates, with EPS at $1.80 and sales at $919.44 million. Despite the miss, sales increased by 6.16% year-over-year.
The earnings per share and sales figures both missed analyst expectations, which is typically viewed negatively by investors and could lead to a short-term decline in stock price. However, the year-over-year sales growth of 6.16% may mitigate some negative sentiment.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100