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

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

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 Trading Down 3.0%

Shares of Patrick Industries stock traded down $2.62 during trading on Thursday, reaching $84.00. 970,056 shares of the company were exchanged, compared to its average volume of 667,979. 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 twelve month low of $81.29 and a twelve month high of $148.50. The firm has a market capitalization of $2.76 billion, a price-to-earnings ratio of 21.54 and a beta of 1.11. The business has a 50-day moving average price of $87.42 and a 200-day moving average price of $105.95.

Patrick Industries Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, June 8th. Shareholders of record on Tuesday, May 26th were given a dividend of $0.47 per share. The ex-dividend date was Tuesday, May 26th. This represents a $1.88 annualized dividend and a dividend yield of 2.2%. Patrick Industries’s payout ratio is presently 48.21%.

Insiders Place Their Bets

In other news, insider Charles R. Roeder bought 5,750 shares of the stock in a transaction on Tuesday, May 5th. The stock was purchased at an average price of $87.83 per share, with a total value of $505,022.50. Following the completion of the purchase, the insider owned 42,147 shares of the company’s stock, valued at approximately $3,701,771.01. This trade represents a 15.80% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CFO Matthew S. Filer bought 1,000 shares of the business’s stock in a transaction on Tuesday, May 5th. The stock was purchased at an average price of $85.50 per share, for a total transaction of $85,500.00. Following the completion of the acquisition, the chief financial officer owned 21,614 shares of the company’s stock, valued at approximately $1,847,997. This trade represents a 4.85% increase in their position. The SEC filing for this purchase provides additional information. Insiders acquired a total of 28,700 shares of company stock worth $2,532,880 over the last ninety days. Company insiders own 3.80% of the company’s stock.

Hedge Funds Weigh In On Patrick Industries

Several institutional investors and hedge funds have recently made changes to their positions in PATK. Wellington Management Group LLP increased its position in shares of 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 lifted its holdings 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 lifted its holdings 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. grew its stake in Patrick Industries by 19.5% in 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. grew its stake in Patrick Industries by 14.0% in 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. Institutional investors and hedge funds own 93.29% of the company’s stock.

Analysts Set New Price Targets

PATK has been the subject of several research reports. Wall Street Zen cut shares of Patrick Industries from a “buy” rating to a “hold” rating in a research report on Sunday, April 12th. Truist Financial reduced their target price on shares of Patrick Industries from $126.00 to $113.00 and set a “buy” rating on the stock in a research report on Wednesday, July 8th. Roth Capital set a $128.00 price target on shares of Patrick Industries in a research note on Tuesday, May 5th. Weiss Ratings cut shares of Patrick Industries from a “hold (c+)” rating to a “hold (c)” rating in a research report on Monday, June 29th. Finally, KeyCorp decreased their price objective on Patrick Industries from $125.00 to $115.00 and set an “overweight” rating on the stock in a research report on Wednesday, July 22nd. Six analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, Patrick Industries has a consensus rating of “Moderate Buy” and an average target price of $119.75.

About Patrick Industries

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.