Patrick Industries Q4 revenue up 9%, beats expectations
Overview
Component solutions provider's Q4 revenue rose 9%, beating analyst expectations
Adjusted EBITDA for Q4 grew 17%, exceeding analyst estimates
Company completed acquisitions of Quality Engineered Services and Egis Group
Outlook
Patrick Industries plans to focus on acquisitions and organic growth in 2026
Company aims to expand aftermarket presence and pursue automation initiatives
Patrick Industries is optimistic about market conditions and potential positive inflection
Result Drivers
ORGANIC CONTENT GAINS - Net sales growth driven by organic content gains in Outdoor Enthusiast markets
DISCIPLINED PRODUCTION - OEMs and dealers maintained disciplined production and inventory levels, aiding content growth
ACQUISITIONS - Completed acquisitions reinforced marine electrical solutions platform
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
Q4 Sales | Beat | $924 mln | $856.89 mln (9 Analysts) |
Q4 EPS |
| $0.83 |
|
Q4 Net Income |
| $29 mln |
|
Q4 Adjusted EBITDA | Beat | $105 mln | $98.14 mln (6 Analysts) |
Q4 Operating Income |
| $57 mln |
|
Analyst Coverage
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 7 "strong buy" or "buy", 2 "hold" and 1 "sell" or "strong sell"
The average consensus recommendation for the construction supplies & fixtures peer group is "buy"
Wall Street's median 12-month price target for Patrick Industries Inc is $115.00, about 14.6% below its February 4 closing price of $134.71
The stock recently traded at 25 times the next 12-month earnings vs. a P/E of 20 three months ago
Press Release: ID:nPn59fnSxa
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