Update: Patrick Industries Shares Rise After Q4 Results Beat

MT Newswires Live

Feb 06

(Updates with the stock movement in the headline and the first paragraph, and dividend declaration in the last paragraph.)

Patrick Industries (PATK) shares were up over 6% in recent Thursday trading following its better-than-expected Q4 results.

Earlier, the company reported Q4 adjusted earnings of $0.84 per diluted share, up from $0.52 a year earlier.

Analysts polled by FactSet expected $0.74.

Net sales for the quarter ended Dec. 31 was $924.2 million, up from $846.1 million a year earlier.

Analysts expected revenue of $859.6 million.

The company kept its quarterly dividend at $0.47 per share, payable March 9 to stockholders of record Feb. 23.

Price: 143.71, Change: +9.00, Percent Change: +6.68

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