Financial Performance - Net sales increased by 10% to $1.02 billion, driven by a 17% increase in RV revenue and an 11% increase in Housing revenue, offsetting a 30% decline in Marine revenue [1][3] - Operating income rose to $85 million, a 12% increase from $76 million in the same quarter last year, with an operating margin of 8.3% [4] - Net income increased by 13% to $48 million, with diluted earnings per share rising by 11% to $2.16 [5] Adjusted Metrics - Adjusted diluted earnings per share for the first six months of 2024 increased by 20% to $3.95 [5] - Adjusted EBITDA increased by 14% to $130 million, with an adjusted EBITDA margin of 12.8% [1][9] - Adjusted operating margin improved by 40 basis points to 7.7% for the first six months of 2024 [4][24] Revenue Breakdown by Market Sector - RV revenue accounted for 44% of total revenue, increasing by 17% to $450 million, while wholesale RV industry unit shipments increased by 7% [6][8] - Marine revenue, which represents 16% of total revenue, decreased by 30% to $158 million, with estimated wholesale powerboat industry unit shipments down by 27% [7] - Powersports revenue surged by 185% to $104 million, primarily due to the acquisition of Sportech [8] - Housing revenue, comprising 30% of total revenue, increased by 11% to $305 million, with estimated wholesale manufactured housing unit shipments up by 19% [8] Cash Flow and Balance Sheet - Cash flow from operations for the first six months of 2024 was $173 million, slightly down from $178 million in the prior year [9] - Free cash flow on a trailing twelve-month basis was $348 million [9][23] - The company maintained a total net leverage ratio of 2.6x and liquidity of $519 million at the end of the second quarter [11][12] Strategic Outlook - The company expects continued market share gains and strategic acquisitions to enhance performance as end markets recover [12] - Investments in automation and technology initiatives are aimed at driving organic growth and improving operational efficiencies [6][12]

Company Overview - Patrick Industries, Inc. (NASDAQ: PATK) is a leading component solutions provider serving the RV, Marine, Powersports, and Housing markets [1] - The company has been operational since 1959 and focuses on empowering manufacturers and outdoor enthusiasts [1] - Patrick Industries employs approximately 10,000 skilled team members across the United States [1] Upcoming Financial Results - The company will release its second quarter and six months 2024 financial results before the market opens on Thursday, August 1, 2024 [3] - A conference call will be hosted on the same day at 10:00 a.m. Eastern Time to discuss the results and other business matters [1][3] - Participation in the Q&A session will be limited to institutional investors and analysts [1] Communication Channels - Interested parties can listen to a live webcast of the conference call on Patrick's website [1] - A replay of the conference call will also be available via the company's investor relations website [1]

Core Insights - Rockford Fosgate has launched a new 300-watt subwoofer system specifically designed for Harley-Davidson® CVO touring bikes, enhancing the audio experience for riders [1][3] - The subwoofer system is engineered for easy removal from the saddlebag, providing flexibility for riders to enjoy bass when desired while maintaining storage space [2] - The system incorporates proprietary technologies such as R-Tune® and Motorcycle Dynamic EQ (M-DEQ™) to optimize sound quality against road noise and speed [4] Product Features - The subwoofer system is designed for superior bass performance, featuring X-Max and magnets that enhance loudness and strength of bass response [2] - It includes Bass Management Enhancement (BME) technology that adapts to speed and road noise, maximizing bass output at any volume [4] - Options for adding one or two 10-inch subwoofers are available for bikes equipped with a four-speaker audio system, requiring a 600-watt secondary amplifier [6] Availability - The new subwoofer systems will be available through Harley-Davidson® dealerships and online at harley-davidson.com [5]

ELKHART, Ind., July 2, 2024 /PRNewswire/ -- Patrick Industries, Inc. (NASDAQ: PATK) ("Patrick" or the "Company"), a leading component solutions provider for the Outdoor Enthusiast and Housing markets, will participate in CJS Securities 24th Annual "New Ideas" Summer Conference on July 10, 2024. Andy Nemeth, Chief Executive Officer, will give a presentation and participate in one-on-one meetings with institutional investors and analysts. The conference will be held at the Metropolis Country Club in White Pla ...

Core Insights - Rockford Fosgate has partnered with the City of Sturgis for the tenth consecutive year as the "Official Motorcycle Audio Sponsor" of the Sturgis Motorcycle Rally, scheduled for August 2nd – 10th, 2024 [1] - The company will also sponsor the "22nd Anniversary Mayor's Ride" during the rally [1] Company Activities - Rockford Fosgate will have a booth on Lazelle Street, serving as the home base for activities during the rally, where experts will provide on-bike demonstrations of their latest aftermarket audio systems designed for Harley-Davidson motorcycles [3] - Aftermarket audio systems will be available for purchase at the booth, along with installation services from certified technicians [3] - The company will present the All-Out Bagger Invitational Motorcycle Show on August 5th, featuring top bagger builders, hosted by Jeff G. Holt from V-Twin Visionary [4] - Rockford Fosgate team members will also be present at Black Hills Harley-Davidson from July 26th to August 10th, offering audio systems for purchase and on-site installation [5] Company Background - Rockford Corporation, headquartered in Tempe, Arizona, is known for marketing high-performance audio systems under the Rockford Fosgate brand for various markets, including mobile, motorsport, and marine audio [6]

ELKHART, Ind., May 28, 2024 /PRNewswire/ -- Patrick Industries, Inc. (NASDAQ: PATK) ("Patrick" or the "Company"), a leading component solutions provider for the Outdoor Enthusiast and Housing markets, will participate in the upcoming Baird 2024 Global Consumer, Technology & Services Conference being held from June 4-6, 2024. On June 4th, Andy Nemeth, Chief Executive Officer, and Andy Roeder, Chief Financial Officer, will participate in one-on-one meetings and a fireside chat with institutional investors and ...

About Patrick Industries, Inc. Patrick (NASDAQ: PATK) is a leading component solutions provider serving the RV, Marine, Powersports and Housing markets. Since 1959, Patrick has empowered manufacturers and outdoor enthusiasts to achieve next- level recreation experiences. Our customer-focused approach brings together design, manufacturing, distribution, and transportation in a full solutions model that defines us as a trusted partner. Patrick is home to more than 85 leading brands, all united by a commitment ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 FOR THE QUARTERLY PERIOD ENDED March 31, 2024 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ……………… to ……………… Commission file number 000-03922 PATRICK INDUSTRIES, INC. (Exact name of registrant as specified in its charter) (State or other jurisdiction of incorpo ...

Patrick Industries, Inc. (NASDAQ:PATK) Q1 2024 Earnings Conference Call May 2, 2024 10:00 AM ET Company Participants Steve O'Hara - Vice President of Investor Relations Andy Nemeth - Chief Executive Officer Jeffrey Rodino - President Andrew Roeder - Executive Vice President, Finance, Chief Financial Officer, and Treasurer Kip Ellis - Executive Vice President, Operations and Chief Operating Officer Matt Filer - Senior Vice President, Finance Conference Call Participants Michael Swartz - Truist Securities Sco ...

News Release Patrick Industries, Inc. Reports First Quarter 2024 Financial Results First Quarter 2024 Highlights (compared to First Quarter 2023 unless otherwise noted) ELKHART, IN, May 2, 2024 – Patrick Industries, Inc. (NASDAQ: PATK) ("Patrick" or the "Company"), a leading component solutions provider for the Outdoor Enthusiast and Housing markets, today reported financial results for the first quarter ended March 31, 2024. Net sales increased 4% to $933 million, an increase of $33 million compared to the ...