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Patrick Industries
Patrick Industries (PATK) investor relations material
Patrick Industries Q1 2026 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q1 2026 earnings summary30 Apr, 2026
Executive summary
Q1 2026 net sales were $997.2 million, down 1% year-over-year, with Marine and Powersports growth offsetting RV and Housing declines; net income rose 3% to $39.5 million and diluted EPS was $1.10, including $0.10 dilution from convertible notes.
Operating margin held steady at 6.5%, with operating income at $65 million; adjusted EBITDA was $113 million (11.4% margin), down from $116 million.
Diversified platform and innovation in marine and powersports offset double-digit shipment declines in RV and manufactured housing.
$31 million was returned to shareholders in Q1 2026 via dividends and share repurchases.
Announced merger of equals discussions with LCI Industries, aiming for enhanced value and synergies.
Financial highlights
Gross margin was 22.8%, unchanged year-over-year; operating margin was 6.5%, also flat.
Adjusted EBITDA was $113 million (11.4% margin), down from $116 million last year.
Free cash flow for the trailing twelve months was $194 million.
Cash used in operations was $14 million, reflecting inventory build for anticipated demand.
Net leverage at 2.8x; total net liquidity at quarter-end was $734 million, with $696 million in unused revolver capacity.
Outlook and guidance
FY 2026 RV wholesale shipments expected between 315,000 and 330,000 units; marine and powersports shipments projected flat to up low-single digits; housing starts expected flat to up 5%.
Adjusted operating margin guidance raised by 30–50 basis points to 7.0% for FY 2026; free cash flow expected at $300 million+, with capex of $70–$80 million.
Management expects existing liquidity and cash flow to cover working capital and capital expenditures for at least the next 12 months.
Strategic focus remains on organic growth, composite product innovation, disciplined M&A, and capital deployment for long-term value.
Continued investment in technology and advanced manufacturing, including AI-driven tools, to enhance operational efficiency.
Drivers for revised 2026 Marine shipment outlook
Regulatory catalysts for affordable housing
Strategy for CPU gains despite volume declines
Strategic rationale for Q1 inventory build
Progress of RV OEM composite solution adoption
Model-year changeover impact on Marine content
Strategic rationale for LCI Industries merger
Drivers of 23% quarterly Marine CPU growth
RecPro cross-pollination across end markets
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Latest events from Patrick Industries
- Disciplined growth, innovation, and M&A drive scalable operations and margin expansion.PATK
Investor Day 202410 May 2026 - Q4 2025 saw 9% sales growth, margin expansion, and strong free cash flow with a positive outlook.PATKQ4 202518 Apr 2026
- 2025 results show strong growth and innovation, with key votes on directors, pay, and auditor.PATKProxy filing30 Mar 2026
- Supplemental proxy materials filed for shareholder voting, with no fee required.PATKProxy filing30 Mar 2026
- Diversified growth, strong margins, and strategic acquisitions drive robust performance and outlook.PATKInvestor presentation2 Mar 2026
- Q2 sales up 10% and net income up 13%, led by RV, Housing, and Sportech acquisition.PATKQ2 20242 Feb 2026
- Sales up 6%, net income up 3%, with strong liquidity and margin gains expected in 2025.PATKQ3 202417 Jan 2026
- 2024 sales rose 8% in Q4 and 7% for the year, with strong cash flow and margin expansion.PATKQ4 202428 Dec 2025
- Q1 sales up 7% with margin gains, strong RV/Housing, and cautious outlook.PATKQ1 202523 Dec 2025
Next Patrick Industries earnings date
Q2 202630 Jul, 2026
Patrick Industries
Next Patrick Industries earnings date
Q2 202630 Jul, 2026
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Leroy DaleyApp Store
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Eferix Drawings Google Play
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@ankurshah47_ x.com
Love the app! Quartr makes it really easy to keep track of earnings calls. It also includes the reports and slides to make it easier to follow along.
Amina0781App Store
Quartr is amazing, no way around it. It is the best right now for earnings calls, presentations, and the like.
@theshortbearx.com
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