Stock Track | Patrick Industries Plummets 5.53% After Q4 Earnings Miss

Stock Track

02-06

Shares of Patrick Industries Inc. (PATK) plummeted 5.53% in Thursday's trading session following the company's mixed fourth-quarter earnings report. The stock movement came as the building products manufacturer reported adjusted earnings of $0.52 per share, missing analyst estimates of $0.53.

While Patrick Industries posted revenue of $846.1 million for the quarter ended December 31, 2024, exceeding Wall Street expectations of $815.6 million, the earnings miss overshadowed the top-line beat. The company's net income for the quarter stood at $14.6 million.

Despite the earnings shortfall, Patrick Industries CEO Andy Nemeth expressed optimism about the long-term opportunities in the Outdoor Enthusiast space. The company has been focusing on innovation and addressing supply chain challenges to maintain its position in the market.

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(PATK) plummeted 5.53% in Thursday's trading session following the company's mixed fourth-quarter earnings report. The stock movement came as the building products manufacturer reported adjusted earnings of $0.52 per share, missing analyst estimates of $0.53.</p>\n\n<p>While Patrick Industries posted revenue of $846.1 million for the quarter ended December 31, 2024, exceeding Wall Street expectations of $815.6 million, the earnings miss overshadowed the top-line beat. The company's net income for the quarter stood at $14.6 million.</p>\n\n<p>Despite the earnings shortfall, Patrick Industries CEO Andy Nemeth expressed optimism about the long-term opportunities in the Outdoor Enthusiast space. 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