Oct 29, 8:17 AM ET
Patrick Industries reported third-quarter 2026 net sales of $975 million, roughly flat from $976 million a year earlier. RV revenue fell 15%, while Powersports, Marine and Housing grew. Operating income fell to $50 million from $66 million and diluted EPS dropped to $0.64 from $1.01, though adjusted diluted EPS rose to $1.03 from $1.01 after excluding merger-related and other items. The company did not repurchase shares in the quarter because of restrictions tied to its pending all-stock merger with LCI Industries.
- Net sales were $975 million versus $976 million; RV revenue fell 15%, while Powersports rose 30%, Marine 14% and Housing 4%.
- Operating income was $50 million versus $66 million, and operating margin was 5.1% versus 6.8%.
- Diluted EPS was $0.64 versus $1.01; adjusted diluted EPS was $1.03 versus $1.01.
- Merger-related costs were $14.7 million in the quarter; the LCI Industries shareholder special meeting is scheduled for November 18, 2026.
Read the filing on SEC.gov ↗
Jul 30, 8:54 AM ET
Patrick Industries reported second-quarter 2026 net sales of $1.04 billion, down slightly from $1.05 billion a year earlier, as growth in Marine, Powersports and Housing offset a 15% drop in RV revenue. Operating income fell to $77 million from $87 million, but diluted EPS rose to $1.28 from $0.96, helped by a $24 million legal settlement that hit the prior-year period. The company also disclosed a definitive all-stock merger agreement with LCI Industries signed after quarter end.
- Net sales were $1.04 billion versus $1.05 billion; RV revenue fell 15% as RV industry wholesale unit shipments dropped 16%.
- Operating income was $77 million (7.4% margin) versus $87 million (8.3% margin); adjusted diluted EPS was $1.29 versus $1.50.
- Diluted EPS was $1.28 versus $0.96; the prior-year quarter included a $24.4 million legal settlement.
- Returned $106 million to shareholders in the quarter, including $91 million in share repurchases; LCI Industries merger agreement announced June 30, 2026.
Read the filing on SEC.gov ↗
Jun 30, 4:37 PM ET
Patrick Industries agreed to acquire LCI Industries in an all-stock merger in which LCI shareholders receive 1.2440 Patrick shares for each LCI share. After closing, Patrick holders would own about 52% of the combined company and LCI holders about 48%, and the company is expected to close in the first half of 2027, subject to shareholder and regulatory approvals.
- Exchange ratio: 1.2440 Patrick common shares for each LCI common share, plus cash in lieu of fractional shares
- Ownership after closing: about 52% Patrick shareholders and 48% LCI shareholders
- Companies cite more than $150 million of estimated run-rate cost synergies, to be achieved within three years of closing
- Outside Date for the Mergers is March 30, 2027, with two three-month extensions possible for regulatory conditions; Andy Nemeth remains CEO and Todd Cleveland is named Chair
Read the filing on SEC.gov ↗
Feb 5, 8:00 AM ET
Patrick Industries reported fourth-quarter 2025 net sales up 9% to $924 million, with operating income up 45% to $57 million and diluted EPS of $0.83 versus $0.42 a year earlier. For the full year, net income fell slightly to $135 million from $138 million, and diluted EPS dropped to $3.90 from $4.11, partly due to a $24 million legal settlement. The company also declared a quarterly dividend of $0.47 per share.
- Q4 2025 net sales rose 9% to $924 million; operating income rose 45% to $57 million
- Q4 diluted EPS was $0.83 versus $0.42 in Q4 2024; full-year diluted EPS was $3.90 versus $4.11
- Full-year 2025 included a $24.4 million legal settlement recorded in other expenses; full-year adjusted diluted EPS rose 2% to $4.44
- Board declared a $0.47 per share quarterly dividend, payable March 9, 2026, to holders of record on February 23, 2026
Read the filing on SEC.gov ↗
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