Patrick Industries Q3 sales beat on organic growth, acquisitions

Overview

• Patrick Industries Q3 net sales rise 6% to $976 mln, beating analyst expectations

• Adjusted EPS for Q3 beats consensus, reflecting strong underlying performance

• Adjusted EBITDA for Q3 beats analyst estimates, indicating operational strength

Outlook

• Patrick Industries expects operational investments to enhance performance as demand increases

• Company highlights strong balance sheet and cash flow for fiscal 2026

• Patrick Industries sees lean channel inventories as a strategic advantage

Result Drivers

• ORGANIC GROWTH AND ACQUISITIONS - Net sales increased 6% to $976 mln driven by solid organic growth and acquisitions, despite industry shipment declines

• MARKET SHARE GAINS - Higher revenue in all four primary end markets due to market-share gains and acquisitions

• MODEL-YEAR CHANGEOVER IMPACT - Operating margin decreased due to temporary inefficiencies related to model-year changeover

Key Details

Analyst Coverage

• The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 7 "strong buy" or "buy", 1 "hold" and 1 "sell" or "strong sell"

• The average consensus recommendation for the construction supplies & fixtures peer group is "buy"

• Wall Street's median 12-month price target for Patrick Industries Inc is $110.00, about 10.1% above its October 29 closing price of $98.89

• The stock recently traded at 19 times the next 12-month earnings vs. a P/E of 19 three months ago

Press Release: ID:nPn1GkLbla

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