2023-04-27 08:06:18 ET
- Patrick press release ( NASDAQ: PATK ): Q1 GAAP EPS of $1.35 beats by $0.17 .
- Revenue of $900M (-32.8% Y/Y) beats by $64.58M .
- Gross profit of $194 million decreased 34%, gross margin decreased 40 basis points to 21.6%
- Operating income of $56 million decreased 65%, operating margin decreased 590 basis points to 6.2%
- Adjusted EBITDA of $97 million decreased 49%, adjusted EBITDA margin decreased 350 basis points to 10.8%
- Cash used in operations of $1 million improved compared to cash used in operations of $23 million
- On a trailing twelve-month basis, free cash flow through the first quarter of 2023 was $352 million, an increase of 222% compared to $110 million through the first quarter of 2022.
- "We are confident in the strength of our balance sheet, liquidity and our favorable long-term capital structure with no material debt maturities until 2027."
For further details see:
Patrick GAAP EPS of $1.35 beats by $0.17, revenue of $900M beats by $64.58M