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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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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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.

Patrick Industries, Inc. Reports First Quarter 2024 Financial Results

ELKHART, Ind. , April 18, 2024 /PRNewswire/ -- Patrick Industries, Inc. (NASDAQ: PATK) ("Patrick" or the "Company"), today announced that it will release its first quarter 2024 financial results before the market opens on Thursday, May 2, 2024.

Patrick Industries, Inc. Announces First Quarter 2024 Earnings Release and Conference Call Webcast on May 2, 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.

Analysts Estimate Patrick Industries (PATK) to Report a Decline in Earnings: What to Look Out for

Here at Zacks, our focus is on the proven Zacks Rank system, which emphasizes earnings estimates and estimate revisions to find great stocks. Nevertheless, we are always paying attention to the latest value, growth, and momentum trends to underscore strong picks.

Is Patrick Industries (PATK) a Great Value Stock Right Now?

Patrick Industries (PATK) has become technically an oversold stock now, which implies exhaustion of the heavy selling pressure on it. This, combined with strong agreement among Wall Street analysts in revising earnings estimates higher, indicates a potential trend reversal for the stock in the near term.

Down -8.63% in 4 Weeks, Here's Why You Should You Buy the Dip in Patrick Industries (PATK)

ELKHART, Ind., March 13, 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 36th Annual Roth Conference from March 17, 2024 to March 19, 2024.

Patrick Industries to Participate in Upcoming 2024 Roth Conference

TEMPE, Ariz. , March 5, 2024 /PRNewswire/ -- Rockford Fosgate, the industry leader in high-performance audio systems, is excited to announce the addition of Doug Dobson as Digital Application Manager.

ROCKFORD FOSGATE® APPOINTS DOUG DOBSON AS DIGITAL APPLICATION MANAGER

TEMPE, Ariz. , March 5, 2024 /PRNewswire/ -- Rockford Fosgate, the industry leader in high-performance audio systems, is excited to announce the addition of Derek Schmiedl as Director of Integration.

ROCKFORD FOSGATE® APPOINTS DEREK SCHMIEDL AS DIRECTOR OF INTEGRATION

ELKHART, Ind. , March 5, 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 appointed Andy Roeder as Executive Vice President-Finance, Chief Financial Officer ("CFO"), and Treasurer of the Company, effective March 5.

Patrick Industries, Inc. Appoints Andy Roeder as Executive Vice President-Finance and Chief Financial Officer

Patrick Industries (PATK) is at a 52-week high, but can investors hope for more gains in the future? We take a look at the company's fundamentals for clues.

Patrick Industries, Inc. (PATK) Hits Fresh High: Is There Still Room to Run?

Patrick Industries, Inc. (PATK) Q4 2023 Earnings Call Transcript

Patrick Industries (PATK) came out with quarterly earnings of $1.49 per share, beating the Zacks Consensus Estimate of $1.41 per share. This compares to earnings of $1.82 per share a year ago.

Patrick Industries (PATK) Q4 Earnings Surpass Estimates

Fourth Quarter and Full Year 2023 Highlights (compared to Fourth Quarter 2022 unless otherwise noted) Fourth quarter net sales of $781 million decreased 18% as a result of lower OEM wholesale unit shipments in our end markets and lower pricing passed on to our customers to reflect changes in certain commodity costs. Fourth quarter and full year 2023 diluted earnings per share (EPS) was $1.41 and $6.50, respectively.

Patrick Industries, Inc. Reports Fourth Quarter and Full Year 2023 Financial Results and Declares Quarterly Cash Dividend

Patrick Industries (PATK) could produce exceptional returns because of its solid growth attributes.

3 Reasons Why Growth Investors Shouldn't Overlook Patrick Industries (PATK)

Should Value Investors Buy Patrick Industries (PATK) Stock?

Earnings Preview: Patrick Industries (PATK) Q4 Earnings Expected to Decline

ELKHART, Ind. , Jan. 24, 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 its previously announced $315 million acquisition of Sportech, LLC, a leading designer and manufacturer of high-value, complex component solutions to powersports OEMs, adjacent market OEMs and the aftermarket.

Patrick Industries, Inc. Completes Acquisition of Sportech, LLC and Announces Fourth Quarter 2023 Earnings Release and Conference Call Webcast on February 8, 2024

Patrick (PATK) boosts powersports presence with the strategic Sportech buyout.

Patrick (PATK) to Buy Sportech, Expand Outdoor Enthusiast Space

NEW YORK--(BUSINESS WIRE)--Monomoy Capital Partners, a private investment firm focused on private equity and credit investing in the middle market, is pleased to announce it has entered into a definitive agreement to sell Sportech, a leading designer, manufacturer and assembler of cab components and assemblies for a wide range of OEM customers, to Patrick Industries, Inc. (NASDAQ: PATK). The transaction is expected to close on or before January 24, 2024, and is subject to customary closing cond.

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