PATRICK INDUSTRIES, INC. REPORTS FIRST QUARTER 2023 FINANCIAL RESULTS
ELKHART, Ind., April 27, 2023 /PRNewswire/ -- Patrick Industries, Inc. (NASDAQ: PATK) ("Patrick" or the "Company"), a leading component solutions provider for the Leisure Lifestyle and Housing markets today reported financial results for the first quarter ended April 2, 2023.
- Operating income of $56 million in the first quarter of 2023 decreased $106 million from $162 million in the first quarter of 2022, and operating margin of 6.2% in the first quarter of 2023 decreased 590 basis points compared to 12.1% in the same period a year ago.
- Additionally, operating income in the first quarter of 2022 includes a $5.5 million pre-tax gain on sale of property.
- Diluted earnings per share of $1.35 decreased 70% compared to $4.54 for the first quarter of 2022.
- Patrick Industries will host an online webcast of its first quarter 2023 earnings conference call that can be accessed on the Company's website, www.patrickind.com , under "For Investors," on Thursday, April 27, 2023 at 10:00 a.m. Eastern Time.