Patrick Industries (NASDAQ:PATK) Posts Earnings Results, Beats Estimates By $0.06 EPS

Patrick Industries (NASDAQ:PATK) posted its quarterly earnings data on Thursday. The construction company reported $1.29 earnings per share for the quarter, topping the consensus estimate of $1.23 by $0.06, FiscalAI reports. Patrick Industries had a return on equity of 13.24% and a net margin of 3.46%.The business had revenue of $1.04 billion during the quarter, compared to analysts’ expectations of $994.95 million. During the same quarter in the previous year, the firm earned $1.50 EPS. The firm’s revenue was down .6% compared to the same quarter last year.

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

• Second-quarter sales were resilient despite RV weakness: Revenue declined less than 1% to $1.04 billion as 22% marine growth, 28% powersports growth, and 2% housing growth largely offset a 15% RV decline. Management highlighted that 7% organic growth reflected continued content gains and diversification.
• Marine and powersports remain key growth drivers. Marine benefited from higher content and integrated electrical, tower, windshield, flooring, and fuel-tank solutions, while powersports demand was supported by utility-focused units and rising adoption of premium cab enclosures.
• The 2026 outlook was reduced for RV and profitability. RV wholesale shipments are now expected at 285,000–300,000 units, while adjusted operating margin is expected to be flat year-over-year and could face an additional 20-basis-point headwind from customer affordability and volume programs; operating cash flow guidance was lowered to $320 million–$350 million.
• The proposed all-stock merger with LCI Industries remains a potential long-term catalyst. Patrick expects approximately $150 million in annual run-rate cost synergies, although the transaction is not expected to close until the first half of 2027 and remains subject to shareholder and regulatory approvals.
• Capital returns and potential cash generation improved the balance-sheet outlook. Patrick repurchased approximately $91 million of shares during the quarter and expects working capital to become a source of cash in the second half, helping reduce leverage from 3.0 times while preserving capacity for growth investments.

Patrick Industries Stock Performance

Shares of PATK stock traded down $2.62 during mid-day trading on Thursday, reaching $84.00. The stock had a trading volume of 970,056 shares, compared to its average volume of 667,979. The firm’s 50 day simple moving average is $87.42 and its 200 day simple moving average is $105.95. The company has a quick ratio of 1.04, a current ratio of 2.71 and a debt-to-equity ratio of 1.16. Patrick Industries has a one year low of $81.29 and a one year high of $148.50. The firm has a market cap of $2.76 billion, a PE ratio of 21.54 and a beta of 1.11.

Patrick Industries Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 8th. Shareholders of record on Tuesday, May 26th were given a $0.47 dividend. The ex-dividend date was Tuesday, May 26th. This represents a $1.88 dividend on an annualized basis and a dividend yield of 2.2%. Patrick Industries’s dividend payout ratio (DPR) is currently 48.21%.

Wall Street Analyst Weigh In

Several brokerages have commented on PATK. Zacks Research downgraded Patrick Industries from a “hold” rating to a “strong sell” rating in a research report on Tuesday, May 5th. KeyCorp lowered their price objective on shares of Patrick Industries from $125.00 to $115.00 and set an “overweight” rating on the stock in a research note on Wednesday, July 22nd. Weiss Ratings lowered shares of Patrick Industries from a “hold (c+)” rating to a “hold (c)” rating in a research report on Monday, June 29th. Benchmark dropped their target price on shares of Patrick Industries from $150.00 to $135.00 and set a “buy” rating on the stock in a research report on Friday, May 1st. Finally, Robert W. Baird set a $110.00 target price on shares of Patrick Industries in a research note on Friday, May 1st. Six research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $119.75.

Insider Buying and Selling at Patrick Industries

In other news, Director M Scott Welch bought 10,050 shares of Patrick Industries stock in a transaction that occurred on Tuesday, May 5th. The stock was purchased at an average cost of $88.23 per share, with a total value of $886,711.50. Following the completion of the transaction, the director directly owned 156,000 shares in the company, valued at $13,763,880. This trade represents a 6.89% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Blake Augsburger purchased 400 shares of the firm’s stock in a transaction on Tuesday, May 5th. The shares were acquired at an average price of $85.19 per share, for a total transaction of $34,076.00. Following the purchase, the director directly owned 2,125 shares of the company’s stock, valued at approximately $181,028.75. This represents a 23.19% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders purchased a total of 28,700 shares of company stock valued at $2,532,880 in the last quarter. 3.80% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Patrick Industries

A number of hedge funds have recently modified their holdings of PATK. Wellington Management Group LLP boosted its stake in Patrick Industries by 19.9% in the 4th quarter. Wellington Management Group LLP now owns 2,217,107 shares of the construction company’s stock valued at $240,401,000 after buying an additional 367,802 shares in the last quarter. Price T Rowe Associates Inc. MD raised its stake in Patrick Industries by 17.7% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 748,904 shares of the construction company’s stock worth $81,205,000 after acquiring an additional 112,766 shares in the last quarter. Nuveen LLC raised its stake in Patrick Industries by 6.3% during the fourth quarter. Nuveen LLC now owns 418,749 shares of the construction company’s stock worth $45,405,000 after acquiring an additional 24,795 shares in the last quarter. Goldman Sachs Group Inc. lifted its holdings in shares of Patrick Industries by 19.5% during the fourth quarter. Goldman Sachs Group Inc. now owns 392,150 shares of the construction company’s stock valued at $42,521,000 after acquiring an additional 64,081 shares during the period. Finally, Ameriprise Financial Inc. lifted its holdings in shares of Patrick Industries by 14.0% during the second quarter. Ameriprise Financial Inc. now owns 239,638 shares of the construction company’s stock valued at $22,111,000 after acquiring an additional 29,344 shares during the period. 93.29% of the stock is owned by institutional investors and hedge funds.

Patrick Industries Company Profile

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.