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Vrbo

Patrick Industries, Inc. (NASDAQ:PATK) Q4 2024 Earnings Call Transcript

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Patrick Industries, Inc. (NASDAQ: PATK) held its Q4 2024 earnings call, where they discussed their financial performance and strategic outlook. The company reported a revenue decrease of 19.6% year-over-year to $781.2 million, with net income dropping to $30.1 million or $1.35 per diluted share, down from $56.4 million or $2.43 per share in the previous year. Despite the downturn, Patrick Industries highlighted several positive developments, including a focus on operational efficiency, cost management, and strategic acquisitions aimed at diversifying their product offerings and market reach. They also noted a slight improvement in RV wholesale shipments and a stable marine market, although both sectors faced challenges from economic conditions. The company remains optimistic about future growth, driven by their diversified business model, strong balance sheet, and ongoing efforts to enhance shareholder value through dividends and share repurchases.

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