Insights into Patrick Industries's Upcoming Earnings
Patrick Industries, Inc. PATK | 131.41 | +1.21% |
Patrick Industries (NASDAQ:PATK) is set to give its latest quarterly earnings report on Thursday, 2024-10-31. Here's what investors need to know before the announcement.
Analysts estimate that Patrick Industries will report an earnings per share (EPS) of $1.87.
The announcement from Patrick Industries is eagerly anticipated, with investors seeking news of surpassing estimates and favorable guidance for the next quarter.
It's worth noting for new investors that guidance can be a key determinant of stock price movements.
Earnings History Snapshot
In the previous earnings release, the company beat EPS by $0.11, leading to a 3.14% drop in the share price the following trading session.
Here's a look at Patrick Industries's past performance and the resulting price change:
Quarter | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 |
---|---|---|---|---|
EPS Estimate | 2.05 | 1.32 | 1.35 | 1.75 |
EPS Actual | 2.16 | 1.79 | 1.49 | 1.81 |
Price Change % | -3.0% | 1.0% | 4.0% | -1.0% |
Analyst Insights on Patrick Industries
For investors, grasping market sentiments and expectations in the industry is vital. This analysis explores the latest insights regarding Patrick Industries.
Analysts have provided Patrick Industries with 10 ratings, resulting in a consensus rating of Outperform. The average one-year price target stands at $142.7, suggesting a potential 4.58% upside.
Analyzing Ratings Among Peers
This comparison focuses on the analyst ratings and average 1-year price targets of LCI Indus, Visteon and Phinia, three major players in the industry, shedding light on their relative performance expectations and market positioning.
- The consensus among analysts is an Buy trajectory for LCI Indus, with an average 1-year price target of $119.0, indicating a potential 12.79% downside.
- The consensus among analysts is an Outperform trajectory for Visteon, with an average 1-year price target of $122.25, indicating a potential 10.41% downside.
- Phinia received a Buy consensus from analysts, with an average 1-year price target of $52.5, implying a potential 61.52% downside.
Peers Comparative Analysis Summary
The peer analysis summary offers a detailed examination of key metrics for LCI Indus, Visteon and Phinia, providing valuable insights into their respective standings within the industry and their market positions and comparative performance.
Company | Consensus | Revenue Growth | Gross Profit | Return on Equity |
---|---|---|---|---|
Patrick Industries | Outperform | 10.42% | $231.29M | 4.44% |
LCI Indus | Buy | 3.93% | $266.44M | 4.45% |
Visteon | Outperform | -3.35% | $131M | 3.39% |
Phinia | Buy | -2.14% | $188M | 0.78% |
Key Takeaway:
Patrick Industries is positioned in the middle for Consensus rating. It ranks at the top for Revenue Growth, indicating strong performance in this area. In terms of Gross Profit, it is also at the top among its peers. However, for Return on Equity, Patrick Industries is at the bottom compared to the other companies.
Get to Know Patrick Industries Better
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 portion of revenue.
Understanding the Numbers: Patrick Industries's Finances
Market Capitalization Perspectives: The company's market capitalization falls below industry averages, signaling a relatively smaller size compared to peers. This positioning may be influenced by factors such as perceived growth potential or operational scale.
Revenue Growth: Patrick Industries's revenue growth over a period of 3 months has been noteworthy. As of 30 June, 2024, the company achieved a revenue growth rate of approximately 10.42%. This indicates a substantial increase in the company's top-line earnings. When compared to others in the Consumer Discretionary sector, the company excelled with a growth rate higher than the average among peers.
Net Margin: The company's net margin is below industry benchmarks, signaling potential difficulties in achieving strong profitability. With a net margin of 4.71%, the company may need to address challenges in effective cost control.
Return on Equity (ROE): The company's ROE is a standout performer, exceeding industry averages. With an impressive ROE of 4.44%, the company showcases effective utilization of equity capital.
Return on Assets (ROA): Patrick Industries's ROA is below industry averages, indicating potential challenges in efficiently utilizing assets. With an ROA of 1.59%, the company may face hurdles in achieving optimal financial returns.
Debt Management: Patrick Industries's debt-to-equity ratio stands notably higher than the industry average, reaching 1.38. This indicates a heavier reliance on borrowed funds, raising concerns about financial leverage.
To track all earnings releases for Patrick Industries visit their earnings calendar on our site.
This article was generated by Benzinga's automated content engine and reviewed by an editor.