Patrick Industries (NASDAQ:PATK) Issues Quarterly Earnings Results, Misses Estimates By $0.06 EPS

Patrick Industries (NASDAQ:PATK) posted its quarterly earnings results on Thursday. The construction company reported $1.10 earnings per share 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 the consensus estimate of $1.03 billion. Patrick Industries had a net margin of 3.42% and a return on equity of 13.28%. Patrick Industries’s quarterly revenue was down .6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $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 traded down $0.30 during trading hours on Thursday, hitting $93.00. The stock had a trading volume of 1,052,805 shares, compared to its average volume of 569,919. The company’s fifty day simple moving average is $112.42 and its 200 day simple moving average is $113.82. 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 PE ratio of 23.79 and a beta of 1.35. 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 Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 9th. Investors of record on Monday, February 23rd were issued a $0.47 dividend. The ex-dividend date of this dividend was Monday, February 23rd. This represents a $1.88 annualized dividend and a yield of 2.0%. Patrick Industries’s dividend payout ratio (DPR) is 48.08%.

Insider Buying and Selling

In related news, EVP Stacey L. Amundson sold 3,903 shares of Patrick Industries stock in a transaction dated 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 sale, the executive vice president owned 12,819 shares of the company’s stock, valued at approximately $1,866,574.59. This trade represents a 23.34% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CAO Matthew S. Filer acquired 1,000 shares of the firm’s stock in a transaction that occurred on Friday, February 6th. The stock was purchased at an average cost of $139.91 per share, with a total value of $139,910.00. Following the acquisition, the chief accounting officer owned 20,614 shares in the company, valued at $2,884,104.74. The trade was a 5.10% increase in their position. The SEC filing for this purchase provides additional information. In the last quarter, insiders have bought 11,110 shares of company stock worth $1,289,895 and have sold 20,121 shares worth $2,477,337. Insiders own 3.80% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Advisory Services Network LLC purchased a new position in Patrick Industries during the 3rd quarter valued at about $25,000. Strs Ohio purchased a new position in Patrick Industries during the 1st quarter valued at about $42,000. Kestra Advisory Services LLC purchased a new position in Patrick Industries during the 4th quarter valued at about $73,000. Los Angeles Capital Management LLC purchased a new position in Patrick Industries during the 4th quarter valued at about $76,000. Finally, Northwestern Mutual Wealth Management Co. grew its holdings in Patrick Industries by 2,327.3% during the 4th 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 in the last quarter. Hedge funds and other institutional investors own 93.29% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the stock. Truist Financial set a $126.00 price target on shares of Patrick Industries in a research report on Friday, January 9th. Benchmark restated a “buy” rating on shares of Patrick Industries in a research report on Friday, February 6th. KeyCorp reduced their price target on shares of Patrick Industries from $155.00 to $140.00 and set an “overweight” rating for the company in a research report on Thursday, April 9th. Wall Street Zen lowered shares of Patrick Industries from a “buy” rating to a “hold” rating in a research report on Sunday, April 12th. Finally, Roth Mkm restated a “buy” rating and set a $140.00 price target (down from $157.00) on shares of Patrick Industries in a research report on Thursday, April 16th. Seven investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $130.50.

Key Patrick Industries News

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

About Patrick Industries

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.