Stock Track | Patrick Industries Soars 8.68% Pre-Market on Strong Q1 Earnings Beat

Stock Track

May 01, 2025

Shares of Patrick Industries (NASDAQ: PATK) are soaring 8.68% in pre-market trading on Thursday following the company's release of better-than-expected first-quarter 2025 financial results. The strong performance was driven by robust growth in the company's RV and Housing markets, demonstrating the resilience of Patrick's diversified business model.

The Elkhart, Indiana-based component solutions provider reported earnings per share (EPS) of $1.11, significantly surpassing the analyst consensus estimate of $0.98. This represents a 13.27% beat, despite a 6.72% decrease from the $1.19 per share reported in the same period last year. Revenue for the quarter came in at $1.0 billion, exceeding Wall Street expectations of $961.5 million and marking a 7.45% increase from the $933.49 million reported in Q1 2024.

Patrick Industries' CEO Andy Nemeth attributed the strong results to the company's strategic initiatives and diversified business model. "The anticipated seasonal production increase in our RV and MH markets and dedication of our team members coupled with our commitment to the execution of our strategic and operating plans helped drive solid revenue growth and profitability in the first quarter," Nemeth stated. The company's RV segment saw a 14% revenue increase, while the Housing market grew by 7%, more than offsetting declines in the Marine and Powersports sectors.

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The strong performance was driven by robust growth in the company's RV and Housing markets, demonstrating the resilience of Patrick's diversified business model.</p>\n\n<p>The Elkhart, Indiana-based component solutions provider reported earnings per share (EPS) of $1.11, significantly surpassing the analyst consensus estimate of $0.98. This represents a 13.27% beat, despite a 6.72% decrease from the $1.19 per share reported in the same period last year. Revenue for the quarter came in at $1.0 billion, exceeding Wall Street expectations of $961.5 million and marking a 7.45% increase from the $933.49 million reported in Q1 2024.</p>\n\n<p>Patrick Industries' CEO Andy Nemeth attributed the strong results to the company's strategic initiatives and diversified business model. \"The anticipated seasonal production increase in our RV and MH markets and dedication of our team members coupled with our commitment to the execution of our strategic and operating plans helped drive solid revenue growth and profitability in the first quarter,\" Nemeth stated. 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