Patrick Industries Q1 sales edges past estimates on marine, powersports growth

Overview

• US component supplier's Q1 sales dipped, slightly beating analyst expectations

• Q1 adjusted EBITDA slightly missed consensus, while net income rose 3%

• Company confirmed ongoing merger talks with LCI Industries, with no assurance of a deal

Outlook

• Company says demand environment in 2026 remains dynamic amid macroeconomic and geopolitical headwinds

• Patrick Industries plans continued investment in technology and advanced manufacturing, including AI-driven tools

• Company remains focused on M&A and organic growth to support long-term value creation

Result Drivers

• MIXED MARKET PERFORMANCE - Marine and Powersports revenue growth offset declines in RV and Housing segments, with overall sales flat yr/yr

• INCREASED CONTENT PER UNIT - Higher content per unit in RV and Marine helped partially offset shipment declines, per CEO Andy Nemeth

• POWESPORTS ATTACHMENT RATES - Powersports revenue rose on higher attachment rates for premium utility vehicle content

Company press release: ID:nPn3nnS7Xa

Key Details

*Applies to a deviation of less than 1%; not applicable for per-share numbers.

Analyst Coverage

• The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 7 "strong buy" or "buy", 2 "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 $140.00, about 50.1% above its April 29 closing price of $93.30

• The stock recently traded at 17 times the next 12-month earnings vs. a P/E of 20 three months ago

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