Patrick Industries (NASDAQ:PATK – Get Free Report) announced its earnings results on Thursday. The construction company reported $1.10 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.16 by ($0.06), FiscalAI reports. The company had revenue of $997.17 million for the quarter, compared to analysts’ expectations of $1.03 billion. Patrick Industries had a net margin of 3.42% and a return on equity of 13.28%. The firm’s quarterly revenue was down .6% on a year-over-year basis. During the same period in the previous year, the firm earned $1.11 EPS.
Here are the key takeaways from Patrick Industries’ conference call:
- First-quarter net sales were $997 million (down 1%) with 8% organic growth; diluted EPS was $1.10 (including ~ $0.10 convertible dilution), and management expects 30–50 bps of operating margin improvement and $370–$390 million of operating cash flow in 2026, implying roughly $300 million of free cash flow.
- End-market performance was mixed—RV revenue fell 7% (industry wholesale shipments down ~12%) while RV content per unit rose ~8% TTM; marine revenue grew 14% (marine CPU +17% TTM) and powersports revenue rose 28%, while manufactured housing was down 6%.
- The company disclosed ongoing “merger of equals” discussions with LCI Industries, saying a combination could deliver synergies and scale, but provided no terms, timeline, or additional details while talks continue.
- Management emphasized product and technology initiatives—composite-material strategy, entry-level tower audio, integrated helm and roofing solutions, AI/automation, and a new digital design studio (“The Experience”)—as key drivers of content expansion and aftermarket growth (RecPro).
- Balance-sheet and capital-allocation flexibility remain strong with ~$734 million of liquidity, net leverage of 2.8x, $153 million of buyback authorization remaining, and management saying they remain active on M&A despite a seasonal working-capital build to stock composites.
Patrick Industries Stock Performance
PATK stock traded down $0.30 during midday trading on Thursday, hitting $93.00. The company’s stock had a trading volume of 1,052,805 shares, compared to its average volume of 569,919. The stock’s 50-day moving average price is $112.42 and its 200 day moving average price is $113.82. The company has a quick ratio of 0.80, a current ratio of 2.51 and a debt-to-equity ratio of 1.08. Patrick Industries has a 1 year low of $78.60 and a 1 year high of $148.50. The stock has a market cap of $3.08 billion, a price-to-earnings ratio of 23.79 and a beta of 1.35.
Patrick Industries Dividend Announcement
Patrick Industries News Summary
Here are the key news stories impacting Patrick Industries this week:
- Positive Sentiment: Reported EPS roughly in line with prior year and beat one published estimate (Zacks noted a beat vs its $1.08 consensus), which supports the company’s underlying earnings stability. Patrick Industries (PATK) Q1 Earnings Top Estimates
- Neutral Sentiment: Company released the formal press release and slide deck detailing results and metrics; these provide management’s official figures and are the primary source for follow-up analysis. Patrick Industries, Inc. Reports First Quarter 2026 Financial Results
- Neutral Sentiment: Earnings call materials and transcript are available for investor color on demand trends, margin drivers and M&A commentary—use these to judge whether management’s tone and guidance will support a recovery. Patrick Industries, Inc. 2026 Q1 – Results – Earnings Call Presentation Q1 2026 Earnings Call Transcript
- Negative Sentiment: Core results disappointed some Street estimates: revenue of $997.2M was below ~$1.03B consensus and GAAP EPS was mixed versus different benchmarks — a signal that organic demand and margin pressure remain concerns. Patrick Industries: Q1 Earnings Snapshot
- Negative Sentiment: Coverage noted “flat” results amid reports of merger discussions; M&A rumors add uncertainty on strategic direction and can pressure the stock until clarity emerges. Patrick Industries Reports Flat Q1 Results Amid Merger Talks
Insiders Place Their Bets
In other Patrick Industries news, Director John A. Forbes sold 2,704 shares of the business’s stock in a transaction on Friday, February 6th. The stock was sold at an average price of $140.75, for a total value of $380,588.00. Following the transaction, the director owned 49,272 shares of the company’s stock, valued at approximately $6,935,034. The trade was a 5.20% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Stacey L. Amundson sold 3,903 shares of the business’s stock in a transaction on Thursday, February 12th. The stock was sold at an average price of $145.61, for a total value of $568,315.83. Following the completion of the transaction, the executive vice president directly owned 12,819 shares in the company, valued at approximately $1,866,574.59. This represents a 23.34% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have bought 11,110 shares of company stock valued at $1,289,895 and have sold 20,121 shares valued at $2,477,337. Company insiders own 3.80% of the company’s stock.
Institutional Trading of Patrick Industries
Hedge funds have recently made changes to their positions in the company. Advisory Services Network LLC bought a new stake in shares of Patrick Industries in the third quarter valued at $25,000. Strs Ohio bought a new stake in shares of Patrick Industries in the first quarter valued at $42,000. Kestra Advisory Services LLC bought a new stake in shares of Patrick Industries in the fourth quarter valued at $73,000. Los Angeles Capital Management LLC bought a new stake in shares of Patrick Industries in the fourth quarter valued at $76,000. Finally, Northwestern Mutual Wealth Management Co. raised its stake in shares of Patrick Industries by 2,327.3% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 801 shares of the construction company’s stock valued at $87,000 after buying an additional 768 shares during the period. 93.29% of the stock is currently owned by institutional investors.
Analysts Set New Price Targets
Several research analysts recently issued reports on the company. Weiss Ratings raised Patrick Industries from a “hold (c)” rating to a “buy (b-)” rating in a research report on Monday, February 23rd. Roth Mkm reaffirmed a “buy” rating and set a $140.00 target price (down from $157.00) on shares of Patrick Industries in a research report on Thursday, April 16th. Truist Financial set a $126.00 target price on Patrick Industries in a research report on Friday, January 9th. Robert W. Baird set a $140.00 target price on Patrick Industries in a research report on Friday, February 6th. Finally, KeyCorp cut their target price on Patrick Industries from $155.00 to $140.00 and set an “overweight” rating on the stock in a research report on Thursday, April 9th. Seven investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, Patrick Industries currently has an average rating of “Moderate Buy” and a consensus price target of $130.50.
Get Our Latest Research Report on Patrick Industries
Patrick Industries Company Profile
Patrick Industries, Inc is a leading manufacturer and distributor of component products and building materials for the recreational vehicle (RV), manufactured housing, marine and industrial markets. The company supplies a broad array of interior and exterior products, including cabinetry, countertops, flooring, wall panels and decorative trim. Patrick Industries also offers engineered composites, adhesives, sealants and insulation solutions that cater to both original equipment manufacturers (OEMs) and aftermarket customers across North America.
Founded in 1959 and headquartered in Elkhart, Indiana, Patrick Industries began as a small distributor of hardwood and millwork products.
Recommended Stories
Receive News & Ratings for Patrick Industries Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Patrick Industries and related companies with MarketBeat.com's FREE daily email newsletter.
