Patrick Industries, Inc. (NASDAQ: PATK) ("Patrick" or the "Company"), a major manufacturer and distributor of component and building products for the recreational vehicle, marine, manufactured housing, and industrial markets, today provided an update related to its business and operations during the coronavirus (COVID-19) pandemic.
Moody's Investors Service ("Moody's") downgraded its ratings for Patrick Industries, Inc. (Patrick), including the company's corporate family rating (CFR to B2 from B1) and probability of default rating (to B2-PD from B1-PD), along with its senior unsecured ratings (to Caa1 from B3). "The downgrades reflect our expectation that Patrick's earnings will be significantly pressured over the balance of the year from the adverse impact of the COVID-19 crisis and further weakening in macroeconomic conditions," says Shirley Singh, Moody's lead analyst for Patrick.
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), a major manufacturer and distributor of component and building products for the recreational vehicle ("RV"), marine, manufactured housing ("MH"), and industrial markets, today reported financial results for the first quarter ended March 29, 2020.
It's been a pretty great week for Patrick Industries, Inc. (NASDAQ:PATK) shareholders, with its shares surging 14% to...
Is Patrick Industries (PATK) a great pick from the value investor's perspective right now? Read on to know more.
Shares of Patrick Industries (NASDAQ:PATK) remained unaffected at $42.97 after the company reported Q1 results.Quarterly Results Earnings per share increased 1.11% year over year to $0.91, which beat the estimate of $0.72.Revenue of $589,232,000 less by 3.12% from the same period last year, which beat the estimate of $580,780,000.Outlook Earnings guidance hasn't been issued by the company for now.Patrick Industries hasn't issued any revenue guidance for the time being.Details Of The Call Date: Apr 30, 2020View more earnings on PATKTime: 07:05 PM ETWebcast URL: https://edge.media-server.com/mmc/p/nh7mwpq5Recent Stock Performance 52-week high: $64.3852-week low: $16.70Price action over last quarter: down 30.03%Company Description Patrick Industries Inc makes and sells building products and materials for recreational vehicles and manufactured housing. The company is organized into two segments based on product type: manufacturing and distribution. The manufacturing segment, which generates the majority of revenue, sells laminated and vinyl products that include furniture, shelving, cabinets, bath fixtures, and countertops. The distribution segment sells prefinished wall and ceiling panels, as well as electrical and plumbing products for the RV and manufactured-housing industries. One of the firm's RV customers makes up a significant portion of revenue. Nearly all of Patrick Industries' revenue comes from North America.See more from Benzinga * Superior Group: Q1 Earnings Insights * Recap: Independent Bank Q1 Earnings * Provident Financial: Q1 Earnings Insights(C) 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Patrick Industries (PATK) delivered earnings and revenue surprises of 22.97% and -1.66%, respectively, for the quarter ended March 2020. Do the numbers hold clues to what lies ahead for the stock?
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.
Miscellaneous Building Products Industry Prospects Look Bleak
Patrick Industries, Inc. (NASDAQ: PATK), a major manufacturer and distributor of component and building products for the recreational vehicle, marine, manufactured housing and industrial markets, today announced that on May 14, 2020, its Board of Directors declared a quarterly cash dividend of $0.25 per share of common stock. The dividend is payable on June 15, 2020, to shareholders of record at the close of business on June 1, 2020.
Patrick Industries, Inc. (NASDAQ: PATK) ("Patrick" or the "Company") announced today that it has completed the acquisition of Goshen, Indiana-based Maple City Woodworking Corporation ("Maple City"), a manufacturer of hardwood cabinet doors and fascia for the recreational vehicle ("RV") market. Maple City's fiscal 2019 revenue was approximately $12 million, and the Company expects the acquisition to be immediately accretive to net income per share.
Unfortunately for some shareholders, the Patrick Industries (NASDAQ:PATK) share price has dived 32% in the last thirty...
Patrick Industries, Inc. (NASDAQ: PATK), a major manufacturer and distributor of building and component products for the recreational vehicle, marine, manufactured housing and industrial markets, expects to release its first quarter 2020 financial results before the market opens on Thursday, April 30, 2020.
Certain statements made in today's conference call regarding Patrick Industries and its operations may be considered forward-looking statements under the securities laws. There are a number of factors many of which are beyond the company's control including without limitation the disruption of business resulting from unforeseen events such as the COVID-19 pandemic and its impact on economic conditions capital and financial markets and our operations which could cause the actual results and events to differ materially from those described in the forward-looking statements.
Anyone researching Patrick Industries, Inc. (NASDAQ:PATK) might want to consider the historical volatility of the...
Q4 2019 Patrick Industries Inc Earnings Call
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Q1 2020 Patrick Industries Inc Earnings Call
Patrick Industries, Inc. (NASDAQ: PATK) ("Patrick" or the "Company"), a major manufacturer and distributor of component and building products for the recreational vehicle, marine, manufactured housing, and industrial markets, today provided a business and operations update regarding the coronavirus (COVID-19) pandemic.