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 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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Does Patrick Industries (PATK) have what it takes to be a top stock pick for momentum investors? Let's find out.

Are You Looking for a Top Momentum Pick? Why Patrick Industries (PATK) is a Great Choice

Patrick Industries (PATK) has been upgraded to a Zacks Rank #2 (Buy), reflecting growing optimism about the company's earnings prospects. This might drive the stock higher in the near term.

Patrick Industries (PATK) Moves to Buy: Rationale Behind the Upgrade

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

Surging Earnings Estimates Signal Upside for Patrick Industries (PATK) Stock

ELKHART, Ind. , Dec. 5, 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 Truist Securities 12th Annual Gaming, Lodging, Leisure & Restaurants Summit on December 12, 2024.

Patrick Industries to Participate in Upcoming Truist Conference

ELKHART, Ind. , Nov. 25, 2024 /PRNewswire/ -- Patrick Industries, Inc. (NASDAQ: PATK) ("Patrick" or the "Company"), a leading component solutions provider for the Outdoor Enthusiast and Housing markets, will host an inaugural Investor Day on December 3, 2024 in New York, NY.

Patrick Industries to Host Investor Day on December 3, 2024

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13 Upcoming Dividend Increases Including 2 Kings

ELKHART, Ind. , Nov. 19, 2024 /PRNewswire/ -- Patrick Industries, Inc. (NASDAQ: PATK) ("Patrick" or the "Company") announced today that on November 18, 2024, the Company's Board of Directors approved a three-for-two stock split of the Company's common stock, to be effected in the form of a stock dividend, payable as one additional share of common stock for every two shares of common stock held.

Patrick Industries, Inc. Announces Three-for-Two Common Stock Split

PATK's solid capital allocation strategy drives long-term sustainable growth and shareholders' value.

Patrick Rewards Investors With 9% Dividend Hike: Will It Sustain?

ELKHART, Ind. , Nov. 15, 2024 /PRNewswire/ -- Patrick Industries, Inc. (NASDAQ: PATK) ("Patrick" or the "Company") today announced that on November 14, 2024, its Board of Directors (the "Board") approved an increase in the amount of its quarterly cash dividend on its common stock to $0.60 per share from $0.55 per share.

Patrick Industries, Inc. Announces Increase to Regular Quarterly Cash Dividend and Increased Share Repurchase Authorization

ELKHART, Ind. , Nov. 5, 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 Baird's 2024 Global Industrial Conference on November 12, 2024.

Patrick Industries to Participate in Upcoming Baird Conference

TEMPE, Ariz. , Nov. 5, 2024 /PRNewswire/ -- Rockford Fosgate, a leader in high-performance audio systems, is thrilled to unveil its 1800-watt Stage-3 Jeep Audio Kit.

Introducing Stage-3 Jeep® Audio Kits for Select 2024 and Newer Wrangler Models by Rockford Fosgate®

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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.

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