Patrick Industries, Inc. Reports Earnings Results for the First Quarter Ended March 31, 2024
May 02, 2024 at 08:09 am EDT
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Patrick Industries, Inc. reported earnings results for the first quarter ended March 31, 2024. For the first quarter, the company reported sales was USD 933.49 million compared to USD 900.1 million a year ago. Net income was USD 35.09 million compared to USD 30.17 million a year ago.
Basic earnings per share from continuing operations was USD 1.62 compared to USD 1.4 a year ago. Diluted earnings per share from continuing operations was USD 1.59 compared to USD 1.35 a year ago.
Patrick Industries, Inc. is a component solutions provider for the recreational vehicle (RV), marine, powersports and housing markets. The Companyâs segments include Manufacturing, which offers laminated products for furniture, shelving, walls and countertops; decorative vinyl, wrapped vinyl, paper laminated panels and vinyl printing; solid surface, granite and quartz countertops; fabricated aluminum products; and other products, and Distribution segment, which provides pre-finished wall and ceiling panels, drywall and drywall finishing products, interior and exterior lighting products, wiring, electrical and plumbing products, transportation and logistics services and other products. It operates through a network that includes approximately 179 manufacturing plants and 62 warehouse and distribution facilities located in 23 states with presence in Mexico, China, and Canada. It also serves original equipment manufacturers (OEMs), and various other industrial markets.