Earnings ·
Patrick Industries reported second quarter 2026 net sales of $1.04 billion, a slight decline from the prior year…
PATKPatrick Industries Inc
Patrick Industries reported second quarter 2026 net sales of $1.04 billion, a slight decline from the prior year, driven by a 15% drop in RV end market revenue that was offset by growth in Marine (22%), Powersports (28%), and Housing (2%) segments. Operating income fell to $77 million with an operating margin of 7.4%, while net income rose 34% to $43 million, or $1.28 per diluted share. The company returned $106 million to shareholders via $15 million in dividends and $91 million in share repurchases, ending the quarter with $691 million in available liquidity and a net leverage ratio of 3.0x. Additionally, Patrick confirmed its previously announced definitive agreement to merge with LCI Industries in an all-stock transaction.