Patrick Industries

Patrick Industries, Inc. engages in the manufacture of components products and distribution of building products for industrial markets. It operates through the following segments: Manufacturing and Distribution. The Manufacturing segment includes laminated products what are utilized to produce furniture, shelving, walls, countertops, cabinet products, cabinet doors, fiberglass bat fixtures, hardwood furniture, vinyl printing, solid surface, granite, quartz countertop fabrication, RV painting, fabricated aluminum products, fiberglass and plastic components, softwoods lumber, custom cabinetry, polymer-based flooring, electrical systems components, and other products. The Distribution segment distributes pre-finished wall and ceiling panels, drywall and drywall finishing products, electronics and audio systems components, wiring, electrical and plumbing products, fiber reinforced polyester products, cement siding, interior passage doors, roofing products, laminate and ceramic flooring, shower doors, furniture, fireplaces and surrounds, interior and exterior lightning products, and other miscellaneous products. The company was founded in 1959 and is headquartered in Elkhart, IN.

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Earnings data Q3 2024

Earnings data Q4 2024

Patrick Industries reports record 2022 results, eyes growth opportunities

Patrick Industries had a strong 2022, with growth in net sales, operating cash flow, and adjusted EBITDA. Despite challenges in RV production, the company's focus on marine and housing businesses paid off. Looking ahead to 2023, the company aims to maintain margins and drive growth through acquisitions and operational efficiencies.

Patrick Industries reports Q1 revenue decline, focuses on innovation

Patrick Industries navigated challenges in the RV and housing markets but demonstrated strength in the marine sector. The company is focused on driving growth through innovation and efficiency improvements. Effective inventory management and a robust labor force strategy position the company well for future opportunities.

Patrick Industries reports robust Q2 performance amidst pricing challenges

Patrick Industries showcased strong financial performance in Q2 2023, with revenue growth and effective cost management strategies.
While facing challenges such as pricing declines and production uncertainties, the company is leveraging strengths in marine business resilience and cost reduction efforts.
Opportunities in M&A, pricing stability, and inventory rebuild present avenues for growth and stability in the RV and marine markets.
Overall, Patrick Industries remains focused on innovation, financial stability, and leveraging market diversification for continued success.

Patrick Industries reports Q3 resilience amidst market challenges

Patrick Industries showcased resilience and adaptability in Q3 2023, with cost savings initiatives boosting margins despite sales declines.
While facing challenges in RV, marine, and housing sectors, the company remains confident in its ability to navigate obstacles and drive sustainable growth.
Stable valuations, labor rates, and a strong cash position position Patrick Industries well for acquisitions and sustained growth in the coming year.

Patrick Industries achieves record performance in 2023, eyes growth

Patrick Industries' robust financial results in 2023 reflect resilience amidst challenges, with a focus on driving growth through strategic acquisitions and operational enhancements. The company remains optimistic about leveraging current operations, improving margins, and pursuing growth opportunities in the near and long term.

Patrick Industries excels in Q1 2024, eyes growth opportunities

Patrick Industries delivered strong financial results in Q1 2024, with revenue and net income growth. The acquisition of Sportech enhances the company's position in the powersports industry. Operating margin improvement and strategic capital allocation priorities signal a focus on sustainable growth.
Challenges lie in declining RV and marine retail shipments, as well as flat powersports unit shipments. However, opportunities exist in leveraging the Sportech acquisition, driving organic growth in powersports, and resilience in the marine business.

Patrick Industries (PATK) reports robust Q2 results and eyes future growth opportunities

Patrick Industries (PATK) delivered a strong performance in Q2 2024, showcasing revenue growth, increased profitability, and positive cash flow generation.
While facing challenges such as cautious outlooks and specific segment performance concerns, the company remains optimistic about future growth and strategic direction.
With a focus on shareholder returns, liquidity strength, and market opportunities, Patrick Industries (PATK) is poised for continued success and value creation.

Patrick Industries reports solid Q3 performance, eyes growth opportunities

Patrick Industries delivered strong financial results in Q3 2024, supported by revenue and income growth, operational efficiency, and strategic acquisitions.
The company's focus on maintaining a strong balance sheet, optimism for future growth, and market expectations position it well for potential expansion and profitability.
While facing challenges such as margin erosion and integration complexities, Patrick Industries has opportunities to leverage market trends, consumer demand, and strategic acquisitions for future growth.

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Patrick Industries, Inc. (NASDAQ:PATK ) Q3 2024 Earnings Conference Call October 31, 2024 10:00 AM ET Company Participants Steve O'Hara - VP, IR Andy Nemeth - CEO Jeffrey Rodino - President Andrew Roeder - EVP, Finance, CFO, and Treasurer Kip Ellis - President, Powersports, Technology & Housing Conference Call Participants Scott Stember - ROTH MKM Mike Swartz - Truist Securities Daniel Moore - CJS Securities Noah Zatzkin - KeyBanc Capital Markets Craig Kennison - Baird Tristan Thomas-Martin - BMO Capital Markets Alex Perry - Bank of America Merrill Lynch Operator Good morning, ladies and gentlemen, and welcome to Patrick Industries Third Quarter 2024 Earnings Conference Call. My name is Joe, and I will be your operator for today's call.

Patrick Industries, Inc. (PATK) Q3 2024 Earnings Call Transcript

Patrick Industries (PATK) came out with quarterly earnings of $1.80 per share, missing the Zacks Consensus Estimate of $1.83 per share. This compares to earnings of $1.81 per share a year ago.

Patrick Industries (PATK) Q3 Earnings and Revenues Miss Estimates

Third Quarter 2024 Highlights (compared to Third Quarter 2023 unless otherwise noted) Net sales increased 6% to $919 million driven by a 13% increase in Housing revenue and our first quarter acquisition of Sportech, which together more than offset a 21% decline in Marine revenue. Operating margin decreased 10 basis points to 8.1%.

Patrick Industries, Inc. Reports Third Quarter 2024 Financial Results

ELKHART, Ind. , Oct. 24, 2024 /PRNewswire/ -- Patrick Industries, Inc. (NASDAQ: PATK) ("Patrick" or the "Company") today announced the closing of its previously announced private offering of $500 million aggregate principal amount of 6.375% Senior Notes due 2032 (the "Notes"), at an issue price of 100% of the principal amount of the Notes, in a private placement exempt from registration under the Securities Act of 1933 (the "Securities Act") on October 22, 2024.

Patrick Industries, Inc. Announces Closing of $500 Million Senior Notes Offering and New Credit Facility

ELKHART, Ind. , Oct. 17, 2024 /PRNewswire/ -- Patrick Industries, Inc. (NASDAQ: PATK) ("Patrick" or the "Company") today announced that it will release its third quarter and nine months 2024 financial results before the market opens on Thursday, October 31, 2024.

Patrick Industries, Inc. Announces Third Quarter 2024 Earnings Release and Conference Call Webcast on October 31, 2024

Patrick Industries (PATK) doesn't possess the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.

Patrick Industries (PATK) Earnings Expected to Grow: Should You Buy?

ELKHART, Ind. , Oct. 7, 2024 /PRNewswire/ -- Patrick Industries, Inc. (NASDAQ: PATK) ("Patrick" or the "Company") today announced the pricing of its upsized private offering of $500 million aggregate principal amount of its 6.375% Senior Notes due 2032 (the "Notes") in a private placement exempt from registration under the Securities Act of 1933 (the "Securities Act").

Patrick Industries, Inc. Announces Pricing and Upsize of Private Offering of $500 Million of Senior Notes

ELKHART, Ind. , Oct. 7, 2024 /PRNewswire/ -- Patrick Industries, Inc. (NASDAQ: PATK) ("Patrick" or the "Company") today announced its intention to offer, subject to market conditions and other factors, $400 million aggregate principal amount of Senior Notes due 2032 (the "Notes") in a private placement exempt from registration under the Securities Act of 1933 ("Securities Act").

Patrick Industries, Inc. Announces Private Offering of $400 Million of Senior Notes

ELKHART, Ind. , Sept. 12, 2024 /PRNewswire/ -- Patrick Industries, Inc. (NASDAQ: PATK) ("Patrick" or the "Company"), a leading component solutions provider for the Outdoor Enthusiast and Housing markets, will participate in D.A.

Patrick Industries to Participate in Upcoming D.A. Davidson Conference

ELKHART, Ind. , Sept. 9, 2024 /PRNewswire/ -- Patrick Industries, Inc. (NASDAQ: PATK) ("Patrick" or the "Company"), a leading component solutions provider for the Outdoor Enthusiast and Housing markets, announced today that it has completed the acquisition of Bristol, Indiana-based ICON Direct, Inc., which operates as RecPro.com ("RecPro"), a leading e-commerce business and aftermarket platform specializing in creating and marketing component products, systems, and solutions for the RV and marine end markets.

Patrick Industries, Inc. Completes Acquisition of RecPro - A Leading Aftermarket E-Commerce Platform for Outdoor Enthusiasts

ROCKFORD FOSGATE® PASSES THE TORCH, PAVING THE WAY FOR CONTINUED STRENGTH AND INNOVATION FOR THE NEXT FUTURE. TEMPE, Ariz.

ROCKFORD FOSGATE ANNOUNCES LEADERSHIP TRANSITION: BILL JACKSON TO BECOME SR. OPERATIONS BUSINESS ADVISOR AT PATRICK INDUSTRIES, ZACH LUKE APPOINTED AS PRESIDENT

ELKHART, Ind. , Aug. 16, 2024 /PRNewswire/ -- Patrick Industries, Inc. (NASDAQ: PATK) today announced that on August 15, 2024, its Board of Directors (the "Board") declared a quarterly cash dividend on its common stock of $0.55 per share.

Patrick Industries, Inc. Declares Quarterly Cash Dividend

Patrick Industries, Inc. (NASDAQ:PATK ) Q2 2024 Earnings Conference Call August 1, 2024 10:00 AM ET Company Participants Steve O'Hara - VP, IR Andy Nemeth - CEO Jeffrey Rodino - President Andrew Roeder - EVP, Finance, CFO, and Treasurer Conference Call Participants Daniel Moore - CJS Securities Michael Swartz - Truist Securities Craig Kennison - Baird Scott Stember - ROTH MKM Noah Zatzkin - KeyBanc Capital Markets Tristan Thomas-Martin - BMO Capital Markets Operator Good morning, ladies and gentlemen, and welcome to Patrick Industries Second Quarter 2024 Earnings Conference Call. My name is Rob and I'll be your operator for today's call.

Patrick Industries, Inc. (PATK) Q2 2024 Earnings Call Transcript

Patrick Industries (PATK) came out with quarterly earnings of $2.16 per share, beating the Zacks Consensus Estimate of $2.04 per share. This compares to earnings of $1.94 per share a year ago.

Patrick Industries (PATK) Q2 Earnings and Revenues Surpass Estimates

Second Quarter 2024 Highlights (compared to Second Quarter 2023 unless otherwise noted) Net sales increased 10% to $1.02 billion driven by a 17% increase in RV revenue, an 11% increase in Housing revenue, and our first quarter acquisition of Sportech, which together more than offset a 30% decline in Marine revenue. Operating margin increased 10 basis points to 8.3%.

Patrick Industries, Inc. Reports Second Quarter 2024 Financial Results

Patrick Industries stock has increased 31.3% since last year, easily outperforming the broader market. While 2023 was weak, 2024 is showing signs of improvement, particularly on the firm's bottom line. Add on top of this how shares are priced, and the prospect of a continued recovery in key markets, and the company is worth considering.

Patrick Industries: With Key Markets Stabilizing, Shares Deserve More Upside

ELKHART, Ind. , July 18, 2024 /PRNewswire/ -- Patrick Industries, Inc. (NASDAQ: PATK) ("Patrick" or the "Company"), today announced that it will release its second quarter and six months 2024 financial results before the market opens on Thursday, August 1, 2024.

Patrick Industries, Inc. Announces Second Quarter 2024 Earnings Release and Conference Call Webcast on August 1, 2024

Patrick Industries (PATK) Earnings Expected to Grow: What to Know Ahead of Q2 Release

TEMPE, Ariz. , July 10, 2024 /PRNewswire/ -- Rockford Fosgate (www.rockfordfosgate.com), the industry leader in high-performance audio systems, is excited to introduce a 300-watt subwoofer system purpose-built to deliver true on-road bass performance.

Introducing the New Harley-Davidson® Audio Powered by Rockford Fosgate® 2024 Subwoofer System

ELKHART, Ind. , July 2, 2024 /PRNewswire/ -- Patrick Industries, Inc. (NASDAQ: PATK) ("Patrick" or the "Company"), a leading component solutions provider for the Outdoor Enthusiast and Housing markets, will participate in CJS Securities 24th Annual "New Ideas" Summer Conference on July 10, 2024.

Patrick Industries to Participate in Upcoming CJS Conference

ELKHART, Ind. , May 28, 2024 /PRNewswire/ -- Patrick Industries, Inc. (NASDAQ: PATK) ("Patrick" or the "Company"), a leading component solutions provider for the Outdoor Enthusiast and Housing markets, will participate in the upcoming Baird 2024 Global Consumer, Technology & Services Conference being held from June 4-6, 2024.

Patrick Industries to Participate in Upcoming 2024 Baird Conference

Patrick Industries, Inc. (NASDAQ:PATK ) Q1 2024 Earnings Conference Call May 2, 2024 10:00 AM ET Company Participants Steve O'Hara - Vice President of Investor Relations Andy Nemeth - Chief Executive Officer Jeffrey Rodino - President Andrew Roeder - Executive Vice President, Finance, Chief Financial Officer, and Treasurer Kip Ellis - Executive Vice President, Operations and Chief Operating Officer Matt Filer - Senior Vice President, Finance Conference Call Participants Michael Swartz - Truist Securities Scott Stember - ROTH MKM Noah Zatzkin - KeyBanc Capital Markets Tristan Thomas-Martin - BMO Capital Markets Craig Kennison - Baird Daniel Moore - CJS Securities, Inc. Brandon Rolle - D.A. Davidson & Co. Alex Perry - BofA Securities Operator Good morning, ladies and gentlemen, and welcome to Patrick Industries First Quarter 2024 Earnings Conference Call.

Patrick Industries, Inc. (PATK) Q1 2024 Earnings Call Transcript

Patrick Industries is a leading provider of components to recreational vehicles, marine, manufactured housing and various industrial markets. The company has achieved outstanding growth in the past 10 years: 38.8% CAGR in free cash flow, 19.28% CAGR in revenues and 20.71% CAGR in EPS to name a few. The balance sheet is fairly clean: current ratio above 2x in the last decade and a net leverage ratio on track to the 2.25-2.5 desired range.

Patrick Industries: An Acquisitions Masterclass For Long-Term Growth

Patrick Industries (PATK) came out with quarterly earnings of $1.79 per share, beating the Zacks Consensus Estimate of $1.32 per share. This compares to earnings of $1.35 per share a year ago.

Patrick Industries (PATK) Beats Q1 Earnings and Revenue Estimates

First Quarter 2024 Highlights (compared to First Quarter 2023 unless otherwise noted) Net sales increased 4% to $933 million driven by a 15% increase in RV revenue, a 5% increase in housing revenue, and acquisitions, which together more than offset lower marine revenue. As previously announced, Patrick completed the acquisition of Sportech, LLC, a supplier of high-value component solutions to the powersports industry on January 24th, representing the Company's largest acquisition to date.

News for Patrick Industries Stock (PATK)