Patrick Industries Q3 net sales rise 6% to $919 million; net income up 3%
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.
Key points
- 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
The filing
Written by AI (Anthropic Claude, claude-haiku-5-5) on Nov 8, 2026, 6:56 AM ET, from the text of the filing and its press-release exhibits only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on October 31, 2024.
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