Martin (on behalf of Joseph Altobello)'s questions to Patrick Industries Inc (PATK) leadership • Q3 2024
Question
Martin, on behalf of Joseph Altobello, asked about the drivers behind the decline in marine content per unit and what actions are needed to resume growth in that metric.
Answer
CEO Andy L. Nemeth explained the decline was primarily due to a product mix shift, as Patrick is more heavily skewed toward higher-engineered ski/wake and pontoon boats, which have seen greater production declines than the overall industry. He expressed optimism that content will increase as the market inflects and new product innovations gain traction.