Third Quarter 2024 Highlights (compared to Third Quarter 2023 unless otherwise noted) Net sales increased 6% to $919 million driven by a 13% increase in Housing revenue and our first quarter acquisition of Sportech, which together more than offset a 21% decline in Marine revenue. Operating margin decreased 10 basis points to 8.1%. For the first nine months of 2024, adjusted operating margin improved 20 basis points to 7.8%. Net income increased 3% to $41 million. Diluted earnings per share of $1.80 included ...

ELKHART, Ind., Oct. 24, 2024 /PRNewswire/ -- Patrick Industries, Inc. (NASDAQ: PATK) ("Patrick" or the "Company") today announced the closing of its previously announced private offering of $500 million aggregate principal amount of 6.375% Senior Notes due 2032 (the "Notes"), at an issue price of 100% of the principal amount of the Notes, in a private placement exempt from registration under the Securities Act of 1933 (the "Securities Act") on October 22, 2024. Net proceeds from the offering, together with ...

ELKHART, Ind., Oct. 17, 2024 /PRNewswire/ -- Patrick Industries, Inc. (NASDAQ: PATK) ("Patrick" or the "Company") today announced that it will release its third quarter and nine months 2024 financial results before the market opens on Thursday, October 31, 2024. Patrick Industries will host a conference call on Thursday, October 31, 2024 at 10:00 a.m. Eastern Time to discuss results and other business matters. Participation in the question-and-answer session of the call will be limited to institutional inve ...

ELKHART, Ind., Oct. 7, 2024 /PRNewswire/ -- Patrick Industries, Inc. (NASDAQ: PATK) ("Patrick" or the "Company") today announced the pricing of its upsized private offering of $500 million aggregate principal amount of its 6.375% Senior Notes due 2032 (the "Notes") in a private placement exempt from registration under the Securities Act of 1933 (the "Securities Act"). The size of the offering reflects an increase of $100 million in aggregate principal amount of the Notes from the previously announced offeri ...

ELKHART, Ind., Oct. 7, 2024 /PRNewswire/ -- Patrick Industries, Inc. (NASDAQ: PATK) ("Patrick" or the "Company") today announced its intention to offer, subject to market conditions and other factors, $400 million aggregate principal amount of Senior Notes due 2032 (the "Notes") in a private placement exempt from registration under the Securities Act of 1933 ("Securities Act"). The interest rate, redemption prices and other terms of the Notes are to be determined upon pricing of the offering. Patrick intend ...

ELKHART, Ind., Sept. 12, 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 D.A. Davidson's 23rd Annual Diversified Industrials & Services Conference on September 19, 2024. Andy Nemeth, Chief Executive Officer, and Kip Ellis, President – Powersports, Technology and Housing, will participate in one-on-one meetings with institutional investors and analysts. The con ...

ELKHART, Ind., Sept. 9, 2024 /PRNewswire/ -- Patrick Industries, Inc. (NASDAQ: PATK) ("Patrick" or the "Company"), a leading component solutions provider for the Outdoor Enthusiast and Housing markets, announced today that it has completed the acquisition of Bristol, Indiana-based ICON Direct, Inc., which operates as RecPro.com ("RecPro"), a leading e-commerce business and aftermarket platform specializing in creating and marketing component products, systems, and solutions for the RV and marine end markets ...

ROCKFORD FOSGATE® PASSES THE TORCH, PAVING THE WAY FOR CONTINUED STRENGTH AND INNOVATION FOR THE NEXT FUTURE. TEMPE, Ariz., Aug. 19, 2024 /PRNewswire/ -- Rockford Fosgate, the industry leader in high-performance audio systems, is thrilled to announce two significant leadership changes within the company. Bill Jackson, who has served as President and CEO for the past 18 years, will transition to the role of Sr. Operations Business Advisor to Patrick Industries. Succeeding him, Zach Luke, a seasoned leader wi ...

销售情况 - 公司第二季度和前六个月的净销售额分别增长10%和7%[123,124] - RV行业销售额增长17%和16%[111,127]，RV批发出货量增长7%和8%[112,113] - 海洋行业销售额下降30%和33%[114,115]，船舶批发出货量下降27%和29%[115] - 动力运动行业销售额增长185%和169%[118]，主要由于2024年1月收购Sportech公司[117] - 制造住房行业销售额增长21%和19%[119]，行业批发出货量增长19%和17%[119] - 工业市场销售额基本持平[120,121] 盈利情况 - 公司前六个月毛利增加31.9百万美元，增长8%，达到436.1百万美元[133] - 公司前六个月毛利率增加20个基点至22.4%[133] - 公司第二季度和前六个月营业利润分别增加12%和9%至84.7百万美元和144.0百万美元[141] 费用情况 - 公司第二季度仓储和运输费用增加8%至38.7百万美元，占销售净额的3.8%[135] - 公司前六个月销售、一般及管理费用增加5%至168.8百万美元，占销售净额8.7%[138][139] 分部情况 - 公司第二季度和前六个月制造分部销售额分别增加10%和5%[149] - 公司第二季度和前六个月分销分部销售额分别增加13%[154] 现金流和财务状况 - 公司现金及可用信贷额度合计519.0百万美元，预计未来12个月内可满足营运资金和资本支出需求[157][158] - 2024年1月，公司利用2027年到期的循环信贷额度和手头现金完成了对Sportech的收购[161] - 截至2024年6月30日，公司符合2021年信贷协议规定的财务契约要求[162] - 2024年上半年，公司经营活动产生的现金流量净额为1.727亿美元，同比下降[165] - 2024年上半年，公司投资活动使用的现金净额增加3.213亿美元，主要用于收购Sportech[166] - 2024年上半年，公司筹资活动产生的现金净额为2.467亿美元，主要是增加了3.528亿美元的循环信贷借款以支付Sportech收购[167] 风险因素 - 公司面临原材料价格波动的风险，但通常能够将价格变动传导给客户[173] - 如果SOFR利率上升100个基点,公司的年利息成本将增加约420万美元[172] - 公司业务存在季节性,第二季度销售和利润通常最高,第四季度最低[170] - 公司发布了前瞻性声明,提醒投资者关注可能导致实际结果与预期不同的风险因素[171]

财务数据和关键指标变化 - 公司第二季度收入增长10%至约10.2亿美元,前12个月合并收入约为36亿美元 [10] - 净收入增长13%至4800万美元,每股摊薄收益2.16美元 [10] - 调整后EBITDA增长14%至1.3亿美元,调整后EBITDA利润率扩大40个基点至12.8% [10][40] - 经营活动产生的现金流前6个月约为1.73亿美元,较上年同期的1.78亿美元略有下降 [41] 各条业务线数据和关键指标变化 - RV业务收入增长17%至4.5亿美元,占总收入的44% [22] - RV每单位内容增长约2%至4,966美元 [22] - 房地产业务收入增长11%至3.05亿美元,占总收入的30% [27] - 房地产每单位内容增长1%至6,427美元 [27] - 海事业务收入下降30%至1.58亿美元,占总收入的16% [24] - 海事每单位内容下降10%至3,935美元 [24] - 动力运动业务收入为1.04亿美元,占总收入的10% [29] 各个市场数据和关键指标变化 - RV批发出货量增长7%,但零售出货量预计下降约10% [23] - 海事批发出货量预计下降20%-25%,零售出货量预计下降约10% [49] - 房地产单户住宅开工增长7%,多户住宅下降34% [28] - 动力运动市场公司产品类别出货量预计持平 [50] 公司战略和发展方向及行业竞争 - 公司业务更加多元化和灵活,利润率和盈利能力提高 [12][13] - 公司持续推进创新,通过先进产品组提升客户价值 [14][31] - 公司将继续通过收购来推动战略增长 [16] - 公司保持强劲的自由现金流,为未来发展提供资金支持 [17][45] 管理层对经营环境和未来前景的评论 - 公司预计第三季度和第四季度将保持谨慎和纪律,但2025财年有望改善 [11][18] - 公司认为2025年各市场需求有望中单位数到低双位数增长 [87][97] - 公司认为当前库存水平过低,未来需求恢复后存在重大补库机会 [55][57][107] 其他重要信息 - 公司无重大债务到期直到2027年,流动性充足 [17][43] - 公司将继续保持资本配置策略的灵活性,关注并购机会 [44][102] - 公司预计全年营业利润率将与2023年持平或上升20个基点 [51] 问答环节重要的提问和回答 问题1 **Daniel Moore 提问** 询问RV市场库存水平和零售情况 [54][55] **Andy Nemeth 回答** 公司预计RV市场库存将在第三季度进一步下降,但到第四季度末应回升至18-20周的水平,零售情况目前保持稳定 [55][56][57][58] 问题2 **Michael Swartz 提问** 询问动力运动业务的表现和前景 [67][68] **Andy Nemeth 和 Andrew Roeder 回答** 动力运动业务,尤其是Sportech收购,表现优于预期,公司看好该业务的未来发展潜力 [68][69][70] 问题3 **Craig Kennison 提问** 询问2025年公司各市场需求和库存水平的预期 [86][87] **Andy Nemeth 回答** 公司预计2025年各市场需求有望中单位数到低双位数增长,并且当前过低的库存水平将需要补充 [87]