Patrick Industries Reports Q3 Earnings Beat Despite RV Weakness
For Q3 2026, Patrick Industries posted net sales of $975.3M, net income of $21.1M, or $0.64 per share, and adjusted EPS of $1.03. Adjusted EBITDA margin rose 40 basis points to 11.9%, as growth in marine, powersports and housing largely offset a 13% decline in RV industry wholesale shipments. The company also introduced the Patrick 2.0 efficiency program and discussed uncertainty around LCI Industries’ evaluation of a competing cash offer.
Why it matters
The results provide a positive earnings and margin update for Patrick Industries despite weakness in RV demand. Patrick expects the Patrick 2.0 initiative to generate $10M in annual savings, while the outcome of the competing offer involving LCI remains unresolved.
Key facts
- 1Patrick Industries reported Q3 2026 net sales of $975.3M, net income of $21.1M and adjusted EPS of $1.03. finance.yahoo.com
- 2Adjusted EBITDA margin increased 40 basis points to 11.9%. seekingalpha.com
- 3RV industry wholesale shipments declined 13% in the quarter. finance.yahoo.com
- 4Patrick Industries said Patrick 2.0 is expected to deliver $10M in annual savings. finance.yahoo.com
- 5Patrick Industries ended Q3 with $716M in liquidity. finance.yahoo.com
- 6LCI Industries’ board was evaluating a cash offer from an outside party while Patrick remained supportive of a potential combination with LCI. finance.yahoo.com
Open questions
- The reported adjusted EPS beat differs across materials, with one citing $0.04 and another citing $0.03.
- Revenue estimates differ across materials, at $36.53M below reported revenue in one account and $942.2M or $943.31M in others.
Summary written by AlphAI AI Desk from 7 of 7 sources. Not investment advice. Figures are as stated by the linked sources.