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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The consensus price target hints at a 26.2% upside potential for Patrick Industries (PATK). While empirical research shows that this sought-after metric is hardly effective, an upward trend in earnings estimate revisions could mean that the stock will witness an upside in the near term.

Wall Street Analysts Believe Patrick Industries (PATK) Could Rally 26%: Here's is How to Trade

Patrick Industries, Inc. (NASDAQ:PATK ) Q2 2022 Earnings Conference Call July 28, 2022 10:00 AM ET Company Participants Julie Ann Kotowski - Director, IR Andy Nemeth - CEO Jeffrey Rodino - President Jake Petkovich - CFO Conference Call Participants Brett Andress - KeyBanc Craig Kennison - Baird Scott Stember - MKM Partners Daniel Moore - CJS Securities Michael Swartz - Truist Securities Rafe Jadrosich - Bank of America Operator Good morning, ladies and gentlemen, and welcome to Patrick Industries Second Quarter 2022 Earnings Conference Call. My name is Robert, and I'll be your operator for today's call.

Patrick Industries, Inc. (PATK) CEO Andy Nemeth on Q2 2022 Results - Earnings Call Transcript

TEMPE, Ariz., July 29, 2022 /PRNewswire/ -- Rockford Fosgate, the industry leader in high-performance audio, confirms the launch of new audio kits for Harley-Davidson® motorcycles.

Rockford Fosgate® Releases New 800-watt Audio Kits for Harley-Davidson® Motorcycles

Patrick Industries (PATK) delivered earnings and revenue surprises of 55.26% and 19.56%, respectively, for the quarter ended June 2022. Do the numbers hold clues to what lies ahead for the stock?

Patrick Industries (PATK) Beats Q2 Earnings and Revenue Estimates

Second Quarter 2022 Highlights (compared to Second Quarter 2021 unless otherwise noted) Net sales of $1.5 billion increased 45%, reflecting contributions from all end markets and from 2021 and 2022 acquisitions Gross profit of $327 million increased 60% Gross margin of 22.2% increased 220 basis points Operating income of $174 million increased 83% Operating margin of 11.8% increased 250 basis points Net income of $117 million increased 98% Diluted earnings per share of $4.79 increased 90%, and includes a reduction for the impact of the accounting treatment for convertible notes and purchase accounting inventory step-up adjustments totaling $0.52 per share Operating cash flows of $97 million increased 242% Acquired Diamondback Towers ELKHART, Ind., July 28, 2022 /PRNewswire/ -- Patrick Industries, Inc. (NASDAQ: PATK), a leading component solutions provider for the Leisure Lifestyle and Housing markets today reported financial results for the second quarter ended June 26, 2022.

Patrick Industries, Inc. Reports Second Quarter 2022 Financial Results

TEMPE, Ariz. , July 18, 2022 /PRNewswire/ -- Rockford Fosgate, the industry leader in high-performance audio, unveils new aftermarket audio solutions purpose built for 2019+ RZR Pro XP® 2 and 4-seat vehicles.

Rockford Fosgate® Rolls Out 1500-watt Audio Kits Purpose Built for 2019+ Polaris RZR Pro XP®

ELKHART, Ind., July 14, 2022 /PRNewswire/ -- Patrick Industries, Inc. (NASDAQ: PATK) today announced that it expects to release its second quarter and six months 2022 financial results before the market opens on Thursday, July 28, 2022.

Patrick Industries, Inc. Announces Second Quarter 2022 Earnings Release and Conference Call Webcast on July 28, 2022

TEMPE, Ariz. , July 5, 2022 /PRNewswire/ -- Rockford Fosgate, the industry leader in high-performance audio, launches the next level of on-water sound.

Rockford Fosgate® Livens Up the Water with Launch of 10-inch Full Range Horn Loaded Marine Speakers

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ELKHART, Ind. , May 9, 2022 /PRNewswire/ -- Patrick Industries, Inc. (NASDAQ: PATK) ("Patrick" or the "Company") announced today that it has completed the acquisition of Diamondback Towers, LLC d/b/a Diamondback Marine, a Cocoa, Florida-based manufacturer of premium wakeboard/ski towers and accessories for marine OEMs.

Patrick Industries, Inc. Completes Acquisition of Diamondback Towers, LLC

Patrick Industries (PATK) shares have started gaining and might continue moving higher in the near term, as indicated by solid earnings estimate revisions.

Can Patrick Industries (PATK) Run Higher on Rising Earnings Estimates?

The average of price targets set by Wall Street analysts indicates a potential upside of 53.6% in Patrick Industries (PATK). While the effectiveness of this highly sought-after metric is questionable, the positive trend in earnings estimate revisions might translate into an upside in the stock.

Wall Street Analysts Believe Patrick Industries (PATK) Could Rally 54%: Here's is How to Trade

Patrick Industries Inc (NASDAQ:PATK ) Q1 2022 Results Conference Call April 28, 2022 10:00 AM ET Company Participants Julie Ann Kotowski - Director, IR Andy Nemeth - CEO Jeff Rodino - President Jake Petkovich - CFO Conference Call Participants Brett Andress – KeyBanc Daniel Moore - CJS Securities Mike Swartz - Truist Securities Rafe Jadrosich - Bank of America Julie Ann Kotowski Good morning, everyone, and welcome to our call this morning. I am joined on the call today by Andy Nemeth, CEO; Jeff Rodino, President; and Jake Petkovich, CFO.

Patrick Industries Inc (PATK) CEO Andy Nemeth on Q1 2022 Results - Earnings Call Transcript

Patrick Industries (PATK) delivered earnings and revenue surprises of 57.09% and 11.93%, respectively, for the quarter ended March 2022. Do the numbers hold clues to what lies ahead for the stock?

Patrick Industries (PATK) Q1 Earnings and Revenues Beat Estimates

First Quarter 2022 Highlights (compared to First Quarter 2021 unless otherwise noted) Net sales of $1.3 billion increased 58%, reflecting momentum in all end markets and contribution from 2021 acquisitions Gross profit of $295 million increased 83% Gross margin of 22.0% increased 300 basis points Operating income of $162 million increased 136% Operating margin of 12.1% increased 400 basis points Net income of $113 million increased 137% Diluted earnings per share of $4.54 increased 123%, including $0.39 dilutive impact of accounting treatment for convertible notes per new standard Acquisition of Rockford Corporation and the Rockford Fosgate® brand ELKHART, Ind. , April 28, 2022 /PRNewswire/ -- Patrick Industries, Inc. (NASDAQ: PATK), a leading component solutions provider for the RV, marine, manufactured housing ("MH") and industrial markets today reported financial results for the first quarter ended March 27, 2022.

Patrick Industries, Inc. Reports First Quarter 2022 Financial Results

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) Reports Next Week: Wall Street Expects Earnings Growth

ELKHART, Ind. , April 14, 2022 /PRNewswire/ -- Patrick Industries, Inc. (NASDAQ: PATK) today announced that it expects to release its first quarter 2022 financial results before the market opens on Thursday, April 28, 2022.

Patrick Industries, Inc. Announces First Quarter 2022 Earnings Release and Conference Call Webcast on April 28, 2022

ELKHART, Ind., March 7, 2022 /PRNewswire/ -- Patrick Industries, Inc. (NASDAQ: PATK) ("Patrick" or the "Company") announced today that it has completed its previously announced acquisition by merger of Arizona-based Rockford Corporation ("Rockford") and the Rockford Fosgate® brand.

Patrick Industries, Inc. Completes Acquisition of Rockford Corporation and the Rockford Fosgate Brand

The consensus price target hints at a 48.8% upside potential for Patrick Industries (PATK). While empirical research shows that this sought-after metric is hardly effective, an upward trend in earnings estimate revisions could mean that the stock will witness an upside in the near term.

Wall Street Analysts Predict a 49% Upside in Patrick Industries (PATK): Here's What You Should Know

TEMPE, Ariz., Feb. 24, 2022 /PRNewswire/ -- Rockford Corporation (OTC Pink: ROFO.PK) announced today that it has signed a definitive agreement under which Rockford will become a wholly owned subsidiary of Patrick Industries, Inc. by merger.

Rockford Corporation Announces Definitive Agreement for Patrick Industries, Inc. to Acquire Rockford Corporation and the Rockford Fosgate Brand

ELKHART, Ind., Feb. 24, 2022 /PRNewswire/ -- Patrick Industries, Inc. (NASDAQ: PATK) ("Patrick" or the "Company") announced today that it has signed a definitive agreement under which Arizona-based Rockford Corporation ("Rockford") will become a wholly-owned subsidiary of Patrick by merger.

Patrick Industries, Inc. Signs Definitive Agreement to Acquire Rockford Corporation and the Rockford Fosgate Brand

Why Patrick Industries (PATK) Might be Well Poised for a Surge

The consensus price target hints at a 49.6% upside potential for Patrick Industries (PATK). While empirical research shows that this sought-after metric is hardly effective, an upward trend in earnings estimate revisions could mean that the stock will witness an upside in the near term.

News for Patrick Industries Stock (PATK)