secwatch.observer — SEC 8-K summary
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Issuer:     PATRICK INDUSTRIES INC (PATK)
CIK:        0000076605
Form:       8-K
Filed at:   2023-04-27T23:59:59+00:00
Accession:  0000076605-23-000070
Event type: earnings
Sentiment:  negative
Materiality: 0.75
Item codes: 2.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Patrick Industries Q1: Revenue $900M (-33%), EPS $1.35 (-70%) amid 54% RV shipment drop
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- 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.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/76605/000007660523000070/0000076605-23-000070-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/76605/000007660523000070/patk-20230427.htm
  HTML page:      https://secwatch.observer/filing/0000076605-23-000070

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