8-K
filed February 9, 2023, 6:59 PM ET
ticker PATK
CIK 0000076605
earnings
confidence high
sentiment neutral
materiality 0.70
Patrick Industries Q4 net sales down 17% to $952M; full year record $4.9B; dividend raised 36% to $0.45
PATRICK INDUSTRIES INC
2022-FY EPS reported
$13.49
revenue$4,881,872,000
- Q4 net sales $952M (-17% YoY); net income $40M (-34%); diluted EPS $1.68 (-36%).
- Full year net sales $4.9B (+20%); net income $328M (+46%); adjusted EBITDA $643M (+34%).
- RV revenue down 39% amid 47% wholesale unit decline; marine revenue up 35% supporting diversification.
- Quarterly cash dividend declared $0.45 per share (36% increase), payable March 6, 2023.
- Q4 operating cash flow $182M (+74%); repurchased $28M shares in Q4; share repurchase authorization increased to $100M.
Key facts
Extracted from this filing and checked against the source text.
Earnings Releases
SEC 8-K Item 2.02
confidence 0.95
PATRICK INDUSTRIES INC reported the full year ended December 31, 2022 results: revenue $4.9 billion, net income $328 million, EPS $13.49.
- Period
- the full year ended December 31, 2022
- Revenue
- $4.9 billion
- Net income
- $328 million
- EPS
- $13.49
- Result
- reported results
Exact text from the filing
million • Release of inaugural Responsibility & Sustainability Report in December Full Year 2022 Highlights (compared to Full Year 2021 unless otherwise noted) • Net sales of $4.9 billion increased 20% • Gross margin of 21.7% increased 210 basis points • Operating income of $496 million increased 41% • Operating margin of 10.2% increased 160 basis points • Net
View on SEC.gov
Earnings Releases
SEC 8-K Item 2.02
confidence 0.95
PATRICK INDUSTRIES INC reported the fourth quarter ended December 31, 2022 results: revenue $952 million, net income $40 million, EPS $1.68.
- Period
- the fourth quarter ended December 31, 2022
- Revenue
- $952 million
- Net income
- $40 million
- EPS
- $1.68
- Result
- reported results
Exact text from the filing
FULL YEAR 2022 FINANCIAL RESULTS AND ANNOUNCES QUARTERLY CASH DIVIDEND Fourth Quarter 2022 Highlights (compared to Fourth Quarter 2021 unless otherwise noted) • Net sales of $952 million decreased 17%, with increased marine and manufactured housing revenue partially offsetting a 47% wholesale unit shipment decline in the RV end market • Gross margin of 21.1%
View on SEC.gov
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