{"schema_version":"secwatch.filing_event.v1","accession":"0000076605-23-000070","form_type":"8-K","ticker":"PATK","cik":"0000076605","company_name":"PATRICK INDUSTRIES INC","filed_at":"2023-04-27T23:59:59+00:00","discovered_at":"2026-05-14T18:03:42.193321+00:00","generated_at":"2026-06-16T10:15:26.729084+00:00","sec_items":["2.02","7.01","9.01"],"event_type":"earnings","sentiment":"negative","materiality_score":0.75,"calibrated_materiality_score":0.75,"confidence":"high","headline":"Patrick Industries Q1: Revenue $900M (-33%), EPS $1.35 (-70%) amid 54% RV shipment drop","bullets":["RV revenue -55% to $367M; marine +25% to $276M; housing -14% to $257M.","Operating income $56M (-65%), net income $30M (-73%), adjusted EBITDA $97M (-49%).","Cash from ops -$1M; trailing free cash flow $352M (+222%).","Repurchased ~54,600 shares ($4M); paid $11M in dividends.","Long-term debt $1.35B, net leverage 2.3x; repaid $172.5M convertible notes."],"urls":{"canonical":"https://secwatch.observer/filing/0000076605-23-000070","json":"https://secwatch.observer/filing/0000076605-23-000070.json","markdown":"https://secwatch.observer/filing/0000076605-23-000070.md","text":"https://secwatch.observer/filing/0000076605-23-000070.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/76605/000007660523000070/0000076605-23-000070-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/76605/000007660523000070/patk-20230427.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-06-16T10:15:26.729084+00:00"},"review":{"review_status":"machine_generated","human_reviewed":false,"corrected":false,"correction_note":null,"correction_timestamp":null,"superseded_by":null,"related_filings":[]},"source_grounded_claims":[{"claim_id":"e5a45f0412bfad9d068d19eb9df5ed81c552a8a5","claim":"PATRICK INDUSTRIES INC reported first quarter ended April 2, 2023 results: revenue $900 million, net income $30 million, EPS $1.35.","evidence_excerpt":"First Quarter 2023 Highlights (compared to First Quarter 2022 unless otherwise noted) • Net sales of $900 million decreased 33%, as 25% growth in our marine end-market sales partially offset the impact of a 54% reduction in RV industry wholesale shipments on our RV sales • Gross profit of $194 million decreased 34%, gross margin decreased 40 basis points to 21.6% • Operating income of $56 million decreased 65%, operating margin decreased 590 basis points to 6.2% • Net income of $30 million decreased 73% • Diluted earnings per share of $1.35 decreased 70% • Adjusted EBITDA of $97 million decreased 49%, adjusted EBITDA margin decreased 350 basis points to 10.8% • Cash used in operations of $1 million improved compared to cash used in operations of $23 million • On a trailing twelve-month basis, free cash flow through the first quarter of 2023 was $352 million, an increase of 222% compared to $110 million through the first quarter of 2022 • Returned $15 million to shareholders in the quar","evidence_source":"SEC 8-K Item 2.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/76605/000007660523000070/0000076605-23-000070-index.htm","confidence":0.9,"family_label":"Earnings Releases","details":[{"label":"Period","value":"first quarter ended April 2, 2023"},{"label":"Revenue","value":"$900 million"},{"label":"Net income","value":"$30 million"},{"label":"EPS","value":"$1.35"},{"label":"Result","value":"reported results"}],"fact_type":"earnings_release"}],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}