#United States #financial results #Patrick Industries #Elkhart #Outdoor Enthusiasts

Patrick Industries Reports Significant Fourth Quarter and Full Year 2025 Financial Results

Patrick Industries, Inc. (NASDAQ: PATK), a prominent provider of components catering to the Outdoor Enthusiast and Housing sectors, has released their financial results for the fourth quarter and full year ending December 31, 2025. The company reported notable highlights that demonstrate their robust performance and a strategic focus on growth.

Financial Growth Overview

For the fourth quarter, Patrick Industries recorded a 9% increase in net sales, totaling $924 million. The full year saw a total of $4.0 billion, marking a 6% rise compared to the previous year. This growth was largely fueled by organic gains and strategic acquisitions in the Outdoor Enthusiast markets. The positive trend highlights the company's ability to leverage market demand effectively, along with successful operational strategies.

Net income saw a remarkable 100% increase in the fourth quarter, reaching $29 million, while the full year's net income totaled $135 million, slightly below the previous year's $138 million. This growth in net income reflects the company’s strong operational execution and disciplined cost control.

Earnings Per Share and Dividends

Diluted earnings per share (EPS) rose to $0.83 for the fourth quarter and $3.90 for the full year. The adjusted diluted EPS for the fourth quarter grew to $0.84, showing a 62% increase year-over-year. The robust results have led the Board of Directors to declare a quarterly cash dividend of $0.47 per share, a 17.5% increase from the previous quarter, reaffirming the company’s commitment to returning capital to shareholders.

Performance in Key Markets

Breaking down the revenue by sector, the RV market accounted for 43% of total revenue, with sales increasing 10% to $392 million, despite a 3% decrease in wholesale RV unit shipments. The Marine sector also performed strongly, with a 24% increase in revenue to $150 million. Powersports showed dynamic growth as well, with a 39% increase in revenue to $109 million. However, the Housing sector experienced a decline, with a 5% decrease in revenue to $272 million due to a decrease in manufactured housing unit shipments.

Strategic Acquisitions and Future Outlook

Throughout 2025, Patrick Industries completed five acquisitions, including Quality Engineered Services (QES) and Egis Group in the fourth quarter, focusing on enhancing their full-solution platform and aftermarket capabilities. Going into 2026, the company expressed optimism about market conditions and the potential for growth, primarily driven by their innovative solutions and strong partnerships with customers.

Chief Executive Officer Andy Nemeth emphasized the strategy of maintaining a disciplined cost structure and pursuing both organic growth and acquisitions. He stated, "Our strong balance sheet and consistent cash flow generation enabled us to reinvest in the business, pursue accretive acquisitions, and return capital to shareholders."

Conclusion

As Patrick Industries wraps up a successful financial year, their commitment to innovation, customer relationships, and strategic growth remains at the forefront. With the announced dividend increase and solid revenue performance, the company continues to position itself as a leader in providing component solutions in the outdoor and housing sectors. As they move into 2026, Patrick Industries is well-prepared to adapt and thrive in the evolving market landscape.