Patrick Industries Inc.

Latest Results (07.10.2025):

Patrick Industries Inc. reported its financial results for the second quarter of 2025, showcasing a 3% increase in net sales to $1.05 billion. The company's diversified portfolio saw growth in its RV and Housing segments, despite declines in Marine and Powersports. Operating income rose by 2%, and adjusted earnings per share improved, reflecting disciplined execution and strategic investments.

Net Sales Growth

Patrick Industries Inc. achieved a 3% increase in net sales, reaching $1.05 billion in the second quarter of 2025 compared to the same period last year. This growth was primarily driven by a 7% rise in the RV business and a 3% increase in the Housing sector, which successfully offset the declines in the Marine and Powersports divisions.

Operating Income and Margin

The company's operating income grew by 2% to $87 million, maintaining an operating margin of 8.3% year-over-year. This stable margin underscores the company’s ability to manage costs effectively while driving revenue growth in key segments.

Earnings Per Share

Net income for the second quarter was $32 million, translating to diluted earnings per share (EPS) of $0.96. When excluding one-time legal settlement expenses, adjusted net income was $51 million, with an adjusted diluted EPS of $1.50. These figures reflect the company's underlying profitability and resilience.

Adjusted EBITDA and Cash Flow

Adjusted EBITDA increased by 4% to $135 million, with the margin rising to 12.9%. Cash flow from operating activities for the year-to-date period was $189 million, up from $173 million the previous year. Free cash flow on a trailing twelve-month basis stood at $262 million, highlighting strong cash generation capabilities.

Shareholder Returns and Financial Position

Patrick Industries returned $36.5 million to shareholders through share repurchases and regular dividends. The company ended the quarter with net liquidity of $835 million and maintained a total net leverage ratio of 2.6x, reflecting a solid financial foundation and disciplined capital management.