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

Patrick Industries

30/04/2026 13:12

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

Metric
Beat/Miss
Actual
Consensus Estimate
Q1 Sales
Slight Beat*
$997 mln
$989.06 mln (10 Analysts)
Q1 EPS
$1.10
Q1 Net Income
$39.5 mln
Q1 Adjusted EBITDA
Slight Miss*
$113 mln
$113.70 mln (8 Analysts)
Q1 Operating Income
$65 mln


*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

For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)