Every material Form 8-K Patrick Industries has filed with the SEC since October 11, 2024, read and summarized by AI: what happened, the key figures, whether it reads positive or negative for shareholders, and how big a deal it is (impact 1-5). Newest first; each brief links to its own page and to the filing on SEC.gov.
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.
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.
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
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
Patrick Industries said CFO Andrew Roeder will leave the company effective February 20, 2026, after the Form 10-K for fiscal 2025 is filed, to pursue outside interests. Matthew Filer, currently Senior Vice President of Finance and Chief Accounting Officer, will become Executive Vice President of Finance, CFO and Treasurer on the same date, under the company's succession plan.
Andrew Roeder resigns as CFO and Treasurer effective February 20, 2026; he informed the company on December 29, 2025
Filer, 53, joined Patrick in November 2022 and was interim CFO from May 2023 to March 2024
Roeder states no disagreement with the company on any matter, including operations, policies or practices
Patrick Industries said Kip B. Ellis, President – Powersports and Housing, resigned as an officer and employee effective immediately to pursue outside interests, with no disagreement with the company cited. The company appointed Hugo E. Gonzalez, its Executive Vice President – Operations and Chief Operating Officer, to the president role effective immediately, in line with its succession plan.
Kip B. Ellis resigned as President – Powersports and Housing, effective immediately, announced December 12, 2025
Ellis stated no disagreement with the company on operations, policies or practices
Hugo E. Gonzalez appointed President – Powersports and Housing, effective immediately, per succession plan
Patrick Industries reported third quarter 2025 results on October 30, 2025. Net sales rose 6% to $976 million, driven by acquisitions and organic growth, but operating income fell to $66 million from $74 million and diluted EPS fell to $1.01 from $1.20, so headline revenue and profit moved in opposite directions. The company said the margin decline was partly due to temporary factors, including model-year changeover inefficiencies.
Net sales increased 6% to $976 million; revenue rose in all four primary end markets.
Operating income was $66 million versus $74 million; operating margin was 6.8% versus 8.1%.
Net income was $35 million, or $1.01 per diluted share, versus $41 million, or $1.20 per diluted share, a year earlier.
Year-to-date operating cash flow was $199 million versus $224 million; total net leverage ratio was 2.8x.
Patrick Industries said Jeff Rodino will assume the role of President, with responsibility for leadership, strategic planning and financial performance. The filing does not state a title change for the CEO or any compensation terms, and it contains no financial results.
Jeff Rodino will assume the role of President, per the 8-K dated October 2, 2025
Responsibilities include leadership, strategic planning and financial performance
Filing was signed by CEO Andy L. Nemeth; no compensation details or effective date are given
Patrick Industries reported second quarter 2025 results for the period ended June 29, 2025. Net sales rose 3% to $1.05 billion, but net income fell 32% to $32 million, or $0.96 per diluted share, after a $24.4 million legal settlement; excluding that expense, adjusted diluted EPS was $1.50 versus $1.44 a year earlier.
Net sales rose 3%, or $31 million, to $1.05 billion, led by RV (up 7%) and Housing (up 3%) growth.
Diluted EPS was $0.96 versus $1.44 a year earlier; adjusted diluted EPS was $1.50 versus $1.44.
Management expects lower wholesale shipments in the second half of 2025 than in the first half, relatively unchanged from its prior view.
Total net leverage ratio was 2.6x, with available liquidity of approximately $835 million at quarter end.
Patrick Industries said former CFO Jake Petkovich rejoins the company as President – Marine, effective May 19, 2025, succeeding Rick Reyenger, who moves to a strategic advisory role. The filing discloses Petkovich's employment agreement, including a $500,000 base salary, a 2025 short-term incentive target of $900,000, and equity grants. The change affects leadership of the company's Marine businesses, and the compensation terms are disclosed for shareholders.
Effective May 19, 2025, Jake Petkovich becomes President – Marine, succeeding Rick Reyenger, who stays with the company in a strategic advisory role.
Employment agreement sets an annual base salary of $500,000 and a 2025 short-term incentive target of $900,000.
Equity grants include 10,257 restricted stock units, options on 42,180 shares at $92.72, and 42,180 stock appreciation rights at exercise prices from $92.72 to $158.05.
Petkovich was Patrick's Executive Vice President – Finance, CFO and Treasurer from 2020 to 2023, and CFO of Indicor, LLP from 2023 to the present.
Patrick Industries reported first quarter 2025 net sales up 7% to $1.0 billion, with net income of $38 million and diluted EPS of $1.11, compared with $35 million and $1.06 a year earlier. Adjusted diluted EPS fell to $1.11 from $1.19, and free cash flow over the trailing twelve months dropped to $251 million from $391 million. The company gave no numeric guidance and said rising tariffs have increased macroeconomic uncertainty.
Net sales rose 7%, or $70 million, to $1.0 billion; RV revenue rose 14% and Housing revenue rose 7%, while Marine fell 4% and Powersports fell 2%.
Reported diluted EPS was $1.11 vs. $1.06; adjusted diluted EPS was $1.11 vs. $1.19 in the prior year period.
Free cash flow on a trailing twelve-month basis was $251 million vs. $391 million a year earlier; total net leverage ratio was 2.7x at quarter end.
The company repurchased about 99,800 shares for $8.5 million and paid $14 million in regular dividends; $191.5 million remained under its repurchase authorization.
On February 25, 2025, Patrick Industries approved stock options and stock appreciation rights under its 2009 Omnibus Incentive Plan for six named executive officers. CEO Andy L. Nemeth received 84,360 options and 84,360 SARs, the largest award in the filing. The awards are equity compensation that ties executive pay to future share price gains.
Options exercise price is $92.72 per share, vesting pro-rata over four anniversaries with nine-year terms.
SARs have four equal tranches with strike prices of $92.72, $110.76, $132.31 and $158.05.
Andy L. Nemeth (CEO) received 84,360 options and 84,360 SARs; Jeffrey M. Rodino and Kip B. Ellis each received 42,180 of each.
Andrew C. Roeder (CFO) received 6,750 of each; Matthew S. Filer and Joel D. Duthie received 5,060 and 4,220 of each.
Patrick Industries reported fourth-quarter 2024 net sales up 8% to $846 million, helped by acquisitions and higher Housing revenue, but operating income fell 31% to $40 million and diluted EPS dropped to $0.42 from $0.94. For full year 2024, net sales rose 7% to $3.7 billion while diluted EPS fell to $4.11 from $4.33. The board also declared a $0.40 quarterly dividend per share.
Q4 2024 net sales $846 million, up 8%; operating income $40 million, down 31%
Q4 2024 diluted EPS $0.42 versus $0.94 a year earlier; adjusted diluted EPS $0.52
Full year 2024 net sales $3.7 billion, up 7%; diluted EPS $4.11 versus $4.33 in 2023
Quarterly dividend of $0.40 per share, payable March 3, 2025, to holders of record on February 18, 2025
Patrick Industries reported third-quarter 2024 net sales up 6% to $919 million, driven by a 13% rise in Housing revenue and the Sportech acquisition, which offset a 21% decline in Marine revenue. Net income rose 3% to $41 million, but diluted earnings per share were $1.80 versus $1.81 a year earlier, and the company's Q3 operating margin slipped 10 basis points to 8.1%. The company also issued $500 million of 6.375% Senior Notes due 2032 after quarter end.
Net sales rose 6% to $919 million; Housing revenue up 13%, Marine revenue down 21%
Net income rose 3% to $41 million; diluted EPS was $1.80 versus $1.81 a year earlier
Operating margin was 8.1%, down 10 basis points; first nine months adjusted diluted EPS rose 13% to $5.75
After quarter end, issued $500 million of 6.375% Senior Notes due 2032 and expanded credit facility to $1.0 billion
Patrick Industries closed a $500 million private offering of 6.375% senior notes due November 1, 2032, issued at 100% of principal. The company also entered a new $1.0 billion senior secured credit facility on October 24, 2024, which replaces its existing facility due August 2027. Net proceeds, together with borrowings under the new facility, will be used to redeem all $300 million of its 7.500% senior notes due 2027 and repay part of its existing borrowings.
$500 million of 6.375% senior notes due November 1, 2032, with interest payable semi-annually from May 1, 2025
New $1.0 billion facility: $875 million revolver and $125 million term loan, maturing October 2029
Proceeds and borrowings to redeem all $300 million of 7.500% notes due 2027 and repay part of existing secured borrowings
Notes may be redeemed before November 1, 2027 at par plus a make-whole premium; a change of control requires an offer to repurchase at 101%
Patrick Industries agreed on October 7, 2024 to sell $500 million of 6.375% senior notes due 2032 in a private offering, up $100 million from the previously announced $400 million. The company plans to use the proceeds to redeem all $300 million of its 7.500% senior notes due 2027, repay part of its credit facility borrowings, and pay fees, and it expects to replace its existing credit facility with a new $1.0 billion senior secured credit facility with maturity extended to October 2029. The offering is expected to close on or about October 22, 2024, subject to closing conditions, and the filing states there can be no assurance it will be completed.
Offering size: $500 million of 6.375% senior notes due 2032, up from $400 million announced earlier
Planned redemption of all $300 million of 7.500% senior notes due 2027
Planned new $1.0 billion senior secured credit facility, with $875 million revolving and $125 million term loan, maturing October 2029
Expected closing on or about October 22, 2024, subject to closing conditions
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