Daniel Moore

Noah Zatzkin

Alexander Perry

Craig Kennison

Joseph Altobello

Michael Swartz

Scott Stember

Tristan Thomas-Martin

Michael Albanese

Alice Wycklendt

Brandon Rollé

Tristan Thomas

- Patrick Industries delivered **solid third quarter performance** in 2025, with **net sales increasing 6% to $976 million**, driven by **over 4% organic growth**, and reported diluted earnings per share of **$1.01**.  **[0000076605_2216396_1]** **[0000076605_2216396_5]** 
- The company saw **strong revenue execution** in its primary end markets, with **RV revenue increasing 7% to $426 million** and **marine revenue increasing 11% to $150 million** in Q3 2025, achieving content gains across all outdoor enthusiast and MH markets.  **[0000076605_2216396_3]** **[0000076605_2216396_5]** 
- Patrick Industries maintained a **strong balance sheet** with **$779 million in total net liquidity** at the end of Q3 2025 and repurchased approximately **377,600 shares for $32 million** year-to-date through the third quarter.  **[0000076605_2216396_1]** **[0000076605_2216396_5]** 
- For the full year 2025, the company expects an adjusted operating margin of approximately **7%**, and anticipates a meaningful improvement of an estimated **70 to 90 basis points** in operating margin for 2026.  **[0000076605_2216396_6]** 
- Dealer inventory levels remain lean, with RV at **14 to 16 weeks** on hand and marine at **16 to 18 weeks** on hand in Q3 2025, both significantly below pre-pandemic historical averages, indicating a potential need for restock.  **[0000076605_2216396_3]** **[0000076605_2216396_9]**

Patrick Industries Reports Q3 2025 Results

- Patrick Industries reported **net sales of $976 million** for Q3 2025, a **6% increase** compared to Q3 2024, while **net income decreased to $35 million** and **diluted EPS was $1.01** (down from $41 million and $1.20, respectively).  **[76605_0000076605-25-000216_patk2025-q3991.htm:1]** 
- Operating income for Q3 2025 was **$66 million** (6.8% operating margin) and Adjusted EBITDA was **$112 million** (11.5% adjusted EBITDA margin), both lower than the prior year period's $74 million (8.1%) and $121 million (13.2%) respectively.  **[76605_0000076605-25-000216_patk2025-q3991.htm:1]** 
- The company generated **$199 million in cash flow from operating activities** year-to-date 2025 and ended Q3 2025 with **$779 million in total net liquidity** and a **2.8x total net leverage ratio**.  **[76605_0000076605-25-000216_patk2025-q3991.htm:1]** **[76605_0000076605-25-000216_patk2025-q3991.htm:3]** 
- In Q3 2025, Patrick Industries returned **$13 million to shareholders through dividends** and completed the acquisition of LilliPad Marine.  **[76605_0000076605-25-000216_patk2025-q3991.htm:1]** **[76605_0000076605-25-000216_patk2025-q3991.htm:2]** **[76605_0000076605-25-000216_patk2025-q3991.htm:3]**

Patrick Industries Reports Third Quarter 2025 Financial Results

- Patrick reported **$976 million** in net sales for Q3 2025, representing a **6%** year-over-year increase.  **[0000076605_2215409:5]** **[0000076605_2215409:7]** 
- The company achieved **$112 million** in Adjusted EBITDA with an **11.5%** margin, and **$1.01** in Adjusted Diluted EPS for Q3 2025.  **[0000076605_2215409:5]** **[0000076605_2215409:7]** **[0000076605_2215409:14]** **[0000076605_2215409:15]** 
- All key segments contributed to revenue growth: RV revenue increased **7%** to **$426 million**, Marine revenue grew **11%** to **$150 million**, Powersports revenue rose **12%** to **$98 million**, and Housing revenue was up **1%** to **$302 million**.  **[0000076605_2215409:5]** **[0000076605_2215409:7]** **[0000076605_2215409:9]** **[0000076605_2215409:10]** 
- Patrick generated **$134 million** in free cash flow year-to-date and maintained **$778.7 million** in total available liquidity, while also completing the acquisition of **LilliPad Marine, LLC**.  **[0000076605_2215409:5]** **[0000076605_2215409:7]** **[0000076605_2215409:11]** **[0000076605_2215409:12]** **[0000076605_2215409:15]**

Patrick Reports Q3 2025 Financial Results with Increased Net Sales and Segment Growth

- Patrick Industries, Inc. reported **net sales of $976 million** for the third quarter of 2025, representing a **6% increase** compared to the prior year period.  **[76605_20251030DE10566:0]** **[76605_20251030DE10566:1]** 
- **Net income was $35 million** and **diluted earnings per share (EPS) was $1.01** in Q3 2025, compared to $41 million and $1.20, respectively, in Q3 2024.  **[76605_20251030DE10566:0]** **[76605_20251030DE10566:1]** 
- Operating income for Q3 2025 was **$66 million**, with an operating margin of **6.8%**, down from $74 million and 8.1% in the prior year period.  **[76605_20251030DE10566:0]** **[76605_20251030DE10566:1]** 
- Cash flow provided by operating activities on a year-to-date basis was **$199 million**, and trailing twelve-month free cash flow was **$211 million**.  **[76605_20251030DE10566:0]** **[76605_20251030DE10566:2]**

PATRICK INDUSTRIES (PATK)