Financial Data and Key Metrics Changes - Consolidated net sales for Q2 2020 decreased 31% to $424 million due to lost shipping days and temporary shutdowns caused by COVID-19 disruptions [55][60] - Net income per diluted share was $0.03, down from $1.18 in the prior year, with an effective tax rate of 44.4% compared to 25.1% in the previous year [63][67] - Gross margin decreased to 17.4%, down 100 basis points year-over-year, primarily due to fixed operating costs incurred during shutdowns [59][60] Business Line Data and Key Metrics Changes - Revenue from leisure lifestyle markets, including RV and Marine, decreased 39%, with RV revenues down 40% and Marine revenues down 34% [55][56] - RV wholesale unit shipments were down 82% in April and 30% in May, followed by an 11% increase in June, resulting in a 35% overall decline for the quarter [28][29] - Manufactured housing sales represented 21% of total revenues, decreasing $20 million or 18% year-over-year, while industrial revenues decreased 2% [42][44] Market Data and Key Metrics Changes - The leisure lifestyle markets represented 62% of Q2 revenues, while housing and industrial markets accounted for 38% [25][26] - Retail sales in the RV sector showed resilience, with shipments up 11% in June compared to the prior year, indicating a strong recovery [16][55] - The housing market experienced a decline in new housing starts by 17% in Q2, primarily due to the pandemic, but is expected to benefit from demographic trends favoring affordable housing [46][41] Company Strategy and Development Direction - The company is optimistic about the leisure lifestyle markets being preferred choices in a post-COVID environment, supported by government stimulus packages [22][23] - Strategic initiatives were paused during the quarter, but the company is now pivoting to strategic acquisitions and capital expenditures to support growth [19][52] - The company aims to leverage its flexible manufacturing capabilities and cost structure to adapt to changing market conditions and consumer demand [50][72] Management's Comments on Operating Environment and Future Outlook - Management noted a strong resurgence in production rates, particularly in the RV sector, and expects continued demand momentum into the second half of 2020 [16][39] - The company anticipates RV wholesale shipments to be up high double digits in Q3 and flat to down low single digits for the full year [48][103] - Management expressed confidence in the ability to grow operating margins in the back half of the year due to cost structure adjustments and increased demand [94][95] Other Important Information - The company maintained over $520 million in liquidity at the end of Q2, including $111 million in cash, with a net leverage of 2.3 times [21][67] - Approximately $6 million was returned to shareholders via dividends, with no share repurchases planned at this time [20][65] - The company eliminated approximately $35 million in annualized fixed overhead costs, with plans to reinvest a portion back into the business [50][92] Q&A Session Summary Question: Insights on production schedules for July and August - Management noted that production rates are increasing and expect strong production run rates for Q3 and Q4 [77][78] Question: Retail performance in June and July - Retail has continued to increase, with expectations of high single to low double-digit increases in retail through Q3 [81] Question: RV mix and its effect on content - The mix remains consistent, with low-end units dominating, but there is potential for increased content as demand grows [89] Question: Future of COVID-related costs - One-time COVID-related expenses of $4.5 million are not expected to recur, and some fixed cost adjustments will be retained [91][92] Question: Expectations for gross margins - Improvement in gross margins is anticipated, although some labor headwinds may persist [111]

Q2 2020 EARNINGS PRESENTATION July 30, 2020 FORWARD-LOOKING STATEMENTS This presentation contains certain statements related to future results, our intentions, beliefs and expectations or predictions for the future which are forward-looking statements as that term is defined in the Private Securities Litigation Reform Act of 1995. These forward-looking statements involve a number of risks and uncertainties that could cause actual results to differ materially from either historical or anticipated results dep ...

Patrick Industries, Inc. (NASDAQ:PATK) Q1 2020 Earnings Conference Call April 30, 2020 10:00 AM ET Company Participants Julie Ann Kotowski - Investor Relations Andy Nemeth - President & Chief Executive Officer Josh Boone - Chief Financial Officer Conference Call Participants Daniel Moore - CJS Securities Craig Kennison - Baird Scott Stember - CL King & Associates Brett Andress - KeyBanc Tim Conder - Wells Fargo Securities Steve O'Hara - Sidoti John Lovallo - Bank of America Operator Good morning, ladies and ...

Q1 2020 Earnings Presentation April 30, 2020 Forward-Looking Statements This presentation contains certain statements related to future results, our intentions, beliefs and expectations or predictions for the future which are forward-looking statements as that term is defined in the Private Securities Litigation Reform Act of 1995. These forward-looking statements involve a number of risks and uncertainties that could cause actual results to differ materially from either historical or anticipated results de ...

Patrick Industries, Inc. (NASDAQ:PATK) Q4 2019 Earnings Conference Call February 13, 2020 10:00 AM ET Company Participants Julie Ann Kotowski – Investor Relations Andy Nemeth – President and Chief Executive Officer Josh Boone – Chief Financial Officer Conference Call Participants Scott Stember – CL King Daniel Moore – CJS Securities Joe Lachky – Wells Fargo Securities Craig Kennison – Baird Stephen O'Hara – Sidoti & Company John Lovallo – Bank of America Operator Good morning, ladies and gentlemen, and welc ...

Patrick Industries, Inc. (NASDAQ:PATK) Q3 2019 Results Earnings Conference Call October 24, 2019 10:00 AM ET Company Participants Julie Ann Kotowski - Investor Relations Todd Cleveland - Chairman and CEO Andy Nemeth - President Joshua Boone - CFO Conference Call Participants Daniel Moore - CJS Securities Scott Stember - C.L. King Craig Kennison - Baird Tim Conder - Wells Fargo Steve O'Hara - Sidoti & Company Daniel Moore - CJS Securities John Lovallo - Bank of America Operator Good morning, ladies and gentl ...

Company Overview - PATK operates as a key component manufacturer and supplier to the RV, Marine, Manufactured Housing, and Industrial Markets, with $2.3 billion in revenue and $164 million in Free Cash Flow in Q2 2019 LTM[9] - The company's vision is to leverage its brand platform, manufacturing & distribution capabilities, diversified product portfolio, deep customer relationships, operating scale, and strategic geographic footprint to continue growth organically and through strategic acquisitions in all of its primary markets[9] - PATK has strategically diversified its market position to align its revenue stream with wholesale and retail trends across its four primary end markets[11] Market Trends and Demographics - Favorable demographic trends in the Lifestyle & Leisure market include increased outdoor activities participation, improved connectivity with family & friends, and improved consumer savings levels[15] - In the Housing & Industrial market, the U S adult population is estimated to expand by 12 million between 2019 and 2024, with the 55+ population projected to increase 21% from 2019-2035[16] - RV market trends show 79 million household campers in the U S, with 7 million new campers since 2014, and millennials accounting for 41% of all campers[20] - Marine market trends indicate $105 billion in retail sales of new powerboats in 2018, with 37% of the U S adult population participating in recreational boating in 2017[36] - MH market trends show 9 million households with 22 million people living in manufactured homes, with an average retail price of $71,900 for a 1,426 sq ft home[46] Market Outlook and Content per Unit - The RV industry experienced a YoY decline in shipments in 2018 for the first time since 2009, but demographic indicators and economic conditions suggest continued solid end market demand[25] - PATK's addressable market in the RV sector is approximately $40 billion, with a potential content/unit of $8,000 for folding and truck campers[31, 33] - PATK's addressable market in the Marine sector is approximately $19 billion, with a potential content/unit of $9,000 for powerboats[43, 44] - PATK's addressable market in the MH sector is approximately $105 billion, with a potential content/unit of $11,000[53] Growth and Capital Allocation - PATK's capital allocation strategy centers around strong cash flows, a balanced leverage position, and capital resources to grow and reinvest in the business model[67] - The company has demonstrated the ability to source, acquire, and integrate businesses, with 42 strategic acquisitions of 57 companies from 2010-2018[74] - PATK has executed on 8 geographic expansions over the last 4 years with expansion opportunities of $500MM market potential[83]