Patrick Industries reports Q1 EPS $1.10, consensus $1.04

Reports Q1 revenue $997M, consensus $990.19M. “I want to thank our team members for their dedication and commitment, as they continued to execute with focus to deliver resilient performance and demonstrate the strength and adaptability of our diversified business model in a challenging and uncertain macroeconomic environment,” said CEO Andy Nemeth. “Content gains were strong as a result of our team’s tremendous focus on innovation and product solutions, and helped to offset shipment declines in our RV, Marine, and Manufactured Housing markets. The demand environment in the first quarter was influenced by macroeconomic and geopolitical headwinds and dealer ordering discipline. Against this backdrop, our team’s ability to pivot quickly, combined with our customer-focused approach, enabled us to outperform in our Outdoor Enthusiast end markets.”