Highest-materiality recent filing
Patrick Industries to acquire LCI Industries in stock-for-stock merger; exchange ratio 1.2440
Each LCI share to be exchanged for 1.2440 shares of Patrick common stock; Patrick shareholders to own 52%, LCI shareholders 48%.
Patrick Industries and LCI Industries terminate merger discussions; deal off
Companies unable to agree on certain key terms despite consensus on leadership and strategic vision.
Patrick Industries Q1 net sales $997M, EPS $1.10; discusses potential merger with LCI Industries
Net sales $997M vs $1,003M prior year; operating margin flat at 6.5%; net income up 3% to $39M.
Patrick Industries confirms merger-of-equals discussions with LCI Industries
Patrick Industries (PATK) is in discussions with LCI Industries (LCII) regarding a potential merger of equals.
Patrick Industries Q4 net sales up 9% to $924M; diluted EPS $0.83; dividend raised 17.5%
Net sales Q4 $924M (+9% YoY), full year $4.0B (+6%).
Patrick Industries Q3 net sales up 6% to $976M; EPS falls 16% to $1.01 on model-year changeover
Net sales $976M (+6% YoY) driven by market-share gains and acquisitions; operating income $66M vs $74M.
Patrick Industries Q2 adjusted EPS $1.50; GAAP EPS $0.96 on $18M legal charge
Net sales $1.05B (+3% YoY); RV revenue +7% to $479M, housing +3% to $315M.
Patrick Industries Q1 revenue +7% to $1.0B; EPS $1.11 vs $1.06; RV/Housing up 14%/7%
Net sales $1.0B (+7% YoY); RV revenue +14% to $479M, Housing +7% to $295M, Marine -4% to $149M, Powersports -2% to $81M.
Patrick Industries Q4 net income falls 52% to $15M; revenue $846M (+8%)
Q4 net sales $846M (+8% YoY); RV revenue up 1%, Marine down 17%, Housing up 12%.
Quarterly dividend raised 9.1% to $0.60/share ($0.55 prior); payable Dec 9, record Nov 25.
Patrick Industries Q3 net sales up 6% to $919M; issues $500M notes to refinance higher-cost debt
Net sales $919M (+6% YoY); Housing +13%, Marine -21%, RV -1%.
Issued $500M of 6.375% Senior Notes due Nov 2032 at par; net proceeds used to redeem $300M of 7.500% Notes due 2027.
Patrick Industries prices $500M 6.375% senior notes due 2032, upsized from $400M
Upsized private offering of $500M 6.375% Senior Notes due 2032, increasing from previously announced $400M.
Patrick Industries to offer $400M Senior Notes due 2032 to refinance debt
Intends to offer $400M aggregate principal amount of Senior Notes due 2032 (rate TBD).
Patrick Industries Q2 net sales up 10% to $1.02B; EPS $2.16, +11%
Net sales $1.02B (+10% YoY); RV +17%, Housing +11%, Marine -30%.
Patrick Industries Q1 net sales up 4% to $933M; adjusted EPS $1.79, +31% YoY
Net sales $933M (+4% YoY); net income $35M (+16%); diluted EPS $1.59 (+18%).
Patrick Industries Reports Q4 2023 Results: Sales Down 18%, Declares $0.55 Dividend
Q4 net sales fell 18% to $781M; diluted EPS $1.41 vs $1.68 in prior year.
Patrick Industries Q4 net sales down 18% to $781M, EPS $1.41 vs $1.68 YoY; declares $0.55 dividend
Q4 net sales $781M (-18% YoY); diluted EPS $1.41 vs $1.68; adjusted EBITDA $100M (-8%).
Patrick Industries completes $315M acquisition of Sportech, LLC
Completed $315M acquisition of Sportech, a powersports component solutions supplier.
Patrick Industries to acquire Sportech for $315M cash; expects immediate accretion
Acquires all outstanding equity of Sportech, a powersports component supplier, for ~$315M all-cash.
Patrick Industries Q3 net sales down 22% to $866M; EPS $1.81 vs $2.43
Operating income $71M (-$22M YoY); operating margin 8.2% vs 8.3%.
Patrick Industries Q2 net sales $921M (-38% YoY); EPS $1.94 (-59%) amid 44% RV unit decline
Net sales $921M (-38% YoY); diluted EPS $1.94 (-59%) as RV industry unit shipments fell 44%.
Patrick Industries completes acquisition of BTI Transport; expected to be immediately accretive
Acquired Elkhart, IN-based BTI Transport, a leader in marine transportation; will operate as Patrick Marine Transport.
Patrick Industries Q1: Revenue $900M (-33%), EPS $1.35 (-70%) amid 54% RV shipment drop
RV revenue -55% to $367M; marine +25% to $276M; housing -14% to $257M.
Mr. Reyenger will remain with the Company and move to a strategic advisory role to support continuity and ensure a smooth and seamless transition across the Company’s Marine businesses.
Jake Petkovich will rejoin Patrick as President – Marine, succeeding Rick Reyenger, effective May 19, 2025.
Matthew S. Filer was elected as Chief Accounting Officer on May 16, 2024.
In addition, the Board appointed John A. Forbes, a director of the Board since August 2011, as the Company’s lead independent director, a position previously held by M. Scott Welch who will continue to serve as a director of the Board.
Todd M. Cleveland had previously served as the Company’s Chairman of the Board since May 2018 and will continue to serve as a director.
On May 16, 2024, following the Annual Meeting of Shareholders of Patrick Industries, Inc. (the “Company”), the Board of Directors (the “Board”) appointed Andy L. Nemeth, the Company’s Chief Executive Officer and a director of the Board, to the role of Chairman.
In addition, the Board appointed John A. Forbes, a director of the Board since August 2011, as the Company’s lead independent director, a position previously held by M. Scott Welch who will continue to serve as a director of the Board.
On March 5, 2024, Patrick Industries, Inc. (the “Company”) announced the appointment of Andrew C. Roeder as Executive Vice President-Finance, Chief Financial Officer and Treasurer of the Company effective March 5, 2024.
The Board of Directors has approved the appointment of Hugo Gonzalez as Executive Vice President of Operations and Chief Operating Officer.
Jeff Rodino has been named President – RV with responsibility in general for the oversight, leadership, strategic planning, and accounting for our RV end market businesses.
Patrick Industries, Inc. (the “Company”) announced that Kip Ellis, Executive Vice President of Operations and Chief Operating Officer was named President - Powersports and Housing with responsibility in general for the oversight, leadership, strategic planning, and accounting for our Powersports and Housing end market businesses.
The Board of Directors has also approved the appointment of Charlie Roeder as Executive Vice President of Sales.
Max materiality 0.90 · Median 0.55 · Most common event earnings