Patrick Industries Earnings Call Transcripts
Fiscal Year 2025
-
Q4 and full-year results showed strong sales and margin growth, driven by content gains, innovation, and acquisitions. Guidance for 2026 anticipates further margin expansion, robust cash flow, and continued disciplined capital allocation.
-
Q3 2025 saw 6% sales growth to $976M, with strong organic gains offsetting industry declines. Margins compressed due to model change inefficiencies, but content per unit rose across all segments. Guidance calls for margin improvement in 2026 and continued investment in innovation and M&A.
-
Q2 2025 saw 3% revenue growth, margin expansion, and strong cash flow, with adjusted EPS up 4% year-over-year. Lean dealer inventories and disciplined production support a stable outlook, while innovation and M&A remain strategic priorities.
-
Q1 2025 saw 7% revenue growth, margin expansion, and strong cash flow, with RV and housing segments outperforming while Marine and Powersports declined. Guidance was revised lower for several end markets, but cost actions and innovation investments support long-term growth.
Fiscal Year 2024
-
Solid 2024 results driven by housing and acquisitions offset marine softness, with strong liquidity and disciplined capital allocation. 2025 outlook calls for margin improvement, robust free cash flow, and growth in RV and housing, while monitoring tariffs and macro trends.
-
Q3 2024 saw 6% revenue growth and 3% net income growth, driven by housing and M&A, offsetting marine and RV declines. Liquidity and balance sheet remain strong, with RecPro acquisition expanding aftermarket reach. 2025 outlook anticipates margin improvement and stable to modestly growing end markets.
-
Second quarter results showed 10% revenue growth and 13% higher net income, driven by strong RV, housing, and powersports performance, offsetting marine declines. Guidance for 2024 was revised lower for RV and marine shipments, but margin and cash flow outlooks remain solid.