Patrick Industries (NASDAQ:PATK) Announces Quarterly Earnings Results, Misses Expectations By $0.06 EPS

by · The Cerbat Gem

Patrick Industries (NASDAQ:PATK – Get Free Report) posted its quarterly earnings data on Thursday. The construction company reported $1.10 earnings per share for the quarter, missing the consensus estimate of $1.16 by ($0.06), FiscalAI reports. Patrick Industries had a return on equity of 13.28% and a net margin of 3.42%.The firm had revenue of $997.17 million for the quarter, compared to the consensus estimate of $1.03 billion. During the same period in the prior year, the company earned $1.11 EPS. The company’s revenue for the quarter was down .6% compared to the same quarter last year.

Here are the key takeaways from Patrick Industries’ conference call:

  • First-quarter net sales were $997 million (down 1%) with 8% organic growth; diluted EPS was $1.10 (including ~ $0.10 convertible dilution), and management expects 30–50 bps of operating margin improvement and $370–$390 million of operating cash flow in 2026, implying roughly $300 million of free cash flow.
  • End-market performance was mixed—RV revenue fell 7% (industry wholesale shipments down ~12%) while RV content per unit rose ~8% TTM; marine revenue grew 14% (marine CPU +17% TTM) and powersports revenue rose 28%, while manufactured housing was down 6%.
  • The company disclosed ongoing “merger of equals” discussions with LCI Industries, saying a combination could deliver synergies and scale, but provided no terms, timeline, or additional details while talks continue.
  • Management emphasized product and technology initiatives—composite-material strategy, entry-level tower audio, integrated helm and roofing solutions, AI/automation, and a new digital design studio (“The Experience”)—as key drivers of content expansion and aftermarket growth (RecPro).
  • Balance-sheet and capital-allocation flexibility remain strong with ~$734 million of liquidity, net leverage of 2.8x, $153 million of buyback authorization remaining, and management saying they remain active on M&A despite a seasonal working-capital build to stock composites.

Patrick Industries Price Performance

Shares of PATK stock traded down $0.30 on Thursday, reaching $93.00. The company had a trading volume of 1,052,805 shares, compared to its average volume of 569,919. The stock has a market capitalization of $3.08 billion, a PE ratio of 23.79 and a beta of 1.35. The company has a quick ratio of 0.80, a current ratio of 2.51 and a debt-to-equity ratio of 1.08. Patrick Industries has a one year low of $78.60 and a one year high of $148.50. The business’s 50-day moving average is $112.42 and its 200 day moving average is $113.82.

Patrick Industries Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, March 9th. Stockholders of record on Monday, February 23rd were issued a $0.47 dividend. The ex-dividend date of this dividend was Monday, February 23rd. This represents a $1.88 dividend on an annualized basis and a dividend yield of 2.0%. Patrick Industries’s dividend payout ratio is 48.08%.

Patrick Industries News Roundup

Here are the key news stories impacting Patrick Industries this week:

Insiders Place Their Bets

In related news, EVP Stacey L. Amundson sold 3,903 shares of the firm’s stock in a transaction that occurred on Thursday, February 12th. The shares were sold at an average price of $145.61, for a total value of $568,315.83. Following the completion of the transaction, the executive vice president owned 12,819 shares in the company, valued at $1,866,574.59. This trade represents a 23.34% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director John A. Forbes sold 2,704 shares of the firm’s stock in a transaction that occurred on Friday, February 6th. The shares were sold at an average price of $140.75, for a total transaction of $380,588.00. Following the completion of the transaction, the director owned 49,272 shares of the company’s stock, valued at approximately $6,935,034. This trade represents a 5.20% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders have purchased 11,110 shares of company stock worth $1,289,895 and have sold 20,121 shares worth $2,477,337. Corporate insiders own 3.80% of the company’s stock.

Institutional Trading of Patrick Industries

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Advisory Services Network LLC acquired a new stake in Patrick Industries during the 3rd quarter valued at approximately $25,000. Strs Ohio acquired a new stake in Patrick Industries in the 1st quarter valued at $42,000. Kestra Advisory Services LLC bought a new position in Patrick Industries during the 4th quarter valued at $73,000. Los Angeles Capital Management LLC bought a new position in Patrick Industries during the 4th quarter valued at $76,000. Finally, Northwestern Mutual Wealth Management Co. increased its position in shares of Patrick Industries by 2,327.3% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 801 shares of the construction company’s stock valued at $87,000 after acquiring an additional 768 shares during the last quarter. Institutional investors and hedge funds own 93.29% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the stock. Truist Financial set a $126.00 price objective on shares of Patrick Industries in a research report on Friday, January 9th. Wall Street Zen cut shares of Patrick Industries from a “buy” rating to a “hold” rating in a research report on Sunday, April 12th. BMO Capital Markets reaffirmed an “outperform” rating and set a $150.00 price objective (down from $155.00) on shares of Patrick Industries in a research report on Monday, April 20th. Weiss Ratings raised shares of Patrick Industries from a “hold (c)” rating to a “buy (b-)” rating in a research report on Monday, February 23rd. Finally, Robert W. Baird set a $140.00 price objective on shares of Patrick Industries in a research report on Friday, February 6th. Seven investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat, Patrick Industries presently has a consensus rating of “Moderate Buy” and an average price target of $130.50.

Get Our Latest Report on PATK

Patrick Industries Company Profile

(Get Free Report)

Patrick Industries, Inc is a leading manufacturer and distributor of component products and building materials for the recreational vehicle (RV), manufactured housing, marine and industrial markets. The company supplies a broad array of interior and exterior products, including cabinetry, countertops, flooring, wall panels and decorative trim. Patrick Industries also offers engineered composites, adhesives, sealants and insulation solutions that cater to both original equipment manufacturers (OEMs) and aftermarket customers across North America.

Founded in 1959 and headquartered in Elkhart, Indiana, Patrick Industries began as a small distributor of hardwood and millwork products.

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