Patrick Industries (PATK) came out with quarterly earnings of $1.11 per share, beating the Zacks Consensus Estimate of $0.98 per share. This compares to earnings of $1.19 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 13.27%. A quarter ago, it was expected that this building products manufacturer would post earnings of $0.50 per share when it actually produced earnings of $0.52, delivering a surprise of 4%.Over the last four ...

Patrick Industries (PATK) Q1 2025 Earnings Call May 01, 2025 10:00 AM ET Speaker0 Good morning, ladies and gentlemen, and welcome to Patrick Industries' First Quarter twenty twenty five Earnings Conference Call. My name is Shamali, and I'll be your operator for today's call. At this time, all participants are in a listen only mode. A question and answer session will follow the formal presentation. Please note that this conference is being recorded. And I will now turn the call over to Mr. Steve O'Hara, Vice ...

Q1 2025 Earnings Presentation May 1, 2025 Forward-Looking Statements USE OF NON-GAAP FINANCIAL MEASURES This presentation contains non-GAAP financial measures. These measures, the purposes for which management uses them, why management believes they are useful to investors, and a reconciliation to the most directly comparable GAAP financial measures can be found in the Appendix of this presentation. All references to profit measures and earnings per share on a comparable basis exclude items that affect comp ...

News Release Patrick Industries, Inc. Reports First Quarter 2025 Financial Results First Quarter 2025 Highlights (compared to First Quarter 2024 unless otherwise noted) ELKHART, IN, May 1, 2025 – Patrick Industries, Inc. (NASDAQ: PATK) ("Patrick" or the "Company"), a leading component solutions provider for the Outdoor Enthusiast and Housing markets, today reported financial results for the first quarter ended March 30, 2025. Net sales increased 7%, or $70 million, to $1.0 billion, compared to the first qua ...

First Quarter 2025 Highlights (compared to First Quarter 2024 unless otherwise noted) Net sales increased 7% to $1.0 billion, driven by revenue growth of 14% and 7% in the Company's RV and Housing markets, respectively, which more than offset a 4% decline in Marine revenue and a 2% decline in Powersports revenue. Operating margin increased 10 basis points to 6.5%. Adjusted operating margin1 was 6.5% compared to 7.0% in the first quarter of 2024. Net income was $38 million and diluted earnings per share (EPS ...

Wall Street expects a year-over-year decline in earnings on higher revenues when Patrick Industries (PATK) reports results for the quarter ended March 2025. While this widely-known consensus outlook is important in gauging the company's earnings picture, a powerful factor that could impact its near-term stock price is how the actual results compare to these estimates.The earnings report, which is expected to be released on May 1, 2025, might help the stock move higher if these key numbers are better than ex ...

ELKHART, Ind., April 17, 2025 /PRNewswire/ -- Patrick Industries, Inc. (NASDAQ: PATK) ("Patrick" or the "Company") today announced that it will release its first quarter 2025 financial results before the market opens on Thursday, May 1, 2025. Patrick Industries will host a conference call on Thursday, May 1, 2025 at 10:00 a.m. Eastern Time to discuss results and other business matters. Participation in the question-and-answer session of the call will be limited to institutional investors and analysts. The d ...

Core Insights - Patrick Industries, Inc. is a leading component solutions provider for the RV, Marine, Powersports, and Housing markets, emphasizing a customer-focused approach and innovation [3]. Company Participation in Conferences - The company will participate in three investor conferences in March 2025, including the Raymond James 46th Annual Institutional Investors Conference, Bank of America's Consumer and Retail Conference, and the 37th Annual Roth Conference [1][6]. Company Overview - Founded in 1959, Patrick Industries has over 85 leading brands and employs approximately 10,000 skilled team members across the United States, focusing on quality and customer service [3].

ELKHART, Ind., Feb. 24, 2025 /PRNewswire/ -- Patrick Industries, Inc. (NASDAQ: PATK) ("Patrick" or the "Company") announced today that it has completed the acquisition of Spring Lake, Michigan-based Medallion Instrumentation Systems, LLC ("Medallion"), a premier provider of customized instrumentation and vehicle electronics for marine, RV, powersports, on-highway and military markets. Medallion's engineering team provides complete systems solutions that cater to customer needs, including digital switching, ...

Market Trends - The marine market has seen a decline in consumer demand, particularly in the powerboat sector, with OEM production decreasing further in 2024 due to economic uncertainties, leading to a 25% decrease in marine wholesale unit shipments compared to 2023 [31][33]. - Total U.S. retail expenditures on boats, engines, accessories, and related costs fell by 2.6% to $57.7 billion in 2023 compared to 2022 [32]. - The powersports segment, reported separately starting Q1 2024, focuses on utility and premium segments, with the company optimistic about future growth despite current market challenges [35][36]. - The manufactured housing (MH) industry saw wholesale unit shipments increase to approximately 103,300 units in 2024, up from 89,200 units in 2023, indicating growth potential driven by various demographic trends [39]. - New housing starts decreased by approximately 4% in 2024, with single-family starts increasing by 6% while multifamily starts decreased by 25% [44]. Acquisitions and Investments - The company completed acquisitions totaling approximately $418 million in 2024 and approximately $696 million over the last three years, focusing on strategic growth in primary markets [47][46]. - The company invested $76 million in property, plant, and equipment in 2024 to enhance manufacturing automation and upgrade production equipment [50]. Customer and Sales Information - As of December 31, 2024, the company had approximately 4,500 active customers, with sales to major RV manufacturers Forest River and Thor accounting for 29% of consolidated net sales in 2024 [56]. - The company has experienced seasonal sales trends, with the highest sales typically in the second quarter and lowest in the fourth quarter [67]. Financial Obligations and Risks - The company’s total debt obligations as of December 31, 2024, were $223.4 million, with a potential additional annual interest cost of approximately $2.2 million for a 100-basis point increase in SOFR rates [237]. - The company is exposed to commodity price volatility, particularly for key raw materials, which may affect pricing strategies [238]. - The company’s 1.75% Convertible Notes are subject to market risk, with their fair value increasing or decreasing based on the common stock price [239]. Human Capital Management - The company has implemented various human capital management programs, including free assistance programs for mental health and tuition reimbursement [70]. - The company’s investment in human capital resources focuses on ensuring the well-being and success of its team members [69]. - The company’s leadership development programs aim to foster an inclusive culture and retain highly qualified team members [72]. - The company has a commitment to safety and well-being in the production environment, including OSHA preparedness and ergonomic assessments [70]. - As of December 31, 2024, the company had approximately 10,000 team members, with 80% being hourly employees [68]. - The company has a diverse executive team with extensive experience across various markets, including RV, marine, and powersports [74]. Research and Development - The company’s research and development efforts aim to maintain leadership in core products and develop new technological capabilities and applications [55]. - The company maintains a balanced inventory level with expected OEM production, continually exploring alternative sources for raw materials [60].