Patrick Industries, Inc. · NASDAQ:PATK
Patrick Industries — Q3 2026 Earnings Presentation
20 slides from Patrick Industries's earnings presentation, Oct 29, 2026
Slide 1: Q3 2026 Earnings Presentation
Q3 2026 Earnings Presentation October 29, 2026
Slide 2: Forward-Looking Statements
Forward-Looking Statements This presentation contains statements that are “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are generally identified by words such as “estimates,” “guidance,” “expects,” “anticipates,” “
Slide 3: Q3 2026 Key Takeaways
Q3 2026 Key Takeaways Resilient financial performance highlights Key Metrics the impact of strategic diversification efforts and operational execution of the Net Sales Patrick team $975M FLAT vs. Q3 2025 Revenue expanded 30% in Powersports, 14% in Marine, and 4% in Housing, essentially offsetting RV
Slide 4: Q3 2026 Revenue Composition
Q3 2026 Revenue Composition Q3 2026 compared to Q3 2025 unless otherwise noted Outdoor Enthusiast Markets RV Marine Powersports Housing % of Q3 Net Sales 37% 18% 13% 32% End Market Revenue $362M (15%) $171M +14% $128M +30% $314M +4% Content Per 1 2 ✓ Demand for utility- 3 Unit (TTM) $5,263 +4% $4,94
Slide 5: Improved Earnings Power Despite Lower Shipments
Improved Earnings Power Despite Lower Shipments FY 2019 to Q3 2026 TTM Comparison Q3 2026 $ in millions, except per share data FY 2019 TTM ∆ Key Drivers Wholesale RV Unit Shipments1 406,070 305,497 (25%) Wholesale Marine Unit Shipments2 189,945 138,197 (27%) Strategic Diversification Total Net Sales
Slide 6: Q3 2026 Financial Performance
Q3 2026 Financial Performance $ in millions, except per share data Net Sales & Gross Margin Revenue Growth Ranking By End Market (Year-Over-Year) 22.6% 23.6% Powersports +30% RV Marine Marine +14% Powersports Housing Housing +4% Q3 2025 Q3 2026 Total Net Sales $976M $975M RV (15%) Adjusted Operating
Slide 7: Performance By End Market
Performance By End Market ow PATRICK
Slide 8: Q3 2026 RV Shipments and Revenue $362M
Revenue Q3 2026 Shipments Q3 2025 Q3 2026 % Change (15%) $362M vs. Q3 2025 Wholesale1 76,500 66,900 (13%) Retail2 102,700 88,000 (14%) % of Q3 2026 Net Sales Dealer Inventory Change (~21,100) units Revenue Growth Content Per Unit1 Growth 37% ($ in millions) 10-Yr CAGR: +5% 10-Yr CAGR: +10% (15%) +4%
Slide 9: Q3 2026 Marine Shipments and Revenue $171M
Revenue Q3 2026 Shipments1 Q3 2025 Q3 2026 % Change +14% $171M vs. Q3 2025 Wholesale 31,600 34,200 +8% Retail 43,400 39,100 (10%) % of Q3 2026 Net Sales Dealer Inventory Change (~4,900) units Revenue Growth Content Per Unit1 Growth 18% ($ in millions) 10-Yr CAGR: +33% 10-Yr CAGR: NM +14% +20% Q3 202
Slide 10: Solidifying Industry Leading Powersports Platform
Solidifying Industry Leading Revenue Revenue Growth Powersports Platform ($ in millions) $128M +30% vs. Q3 2025 4-Yr CAGR: +43% +30% % of Q3 2026 Net Sales $128 • Solid demand for utility-focused units $98 • OEM adoption of Patrick’s cab enclosures continues to grow; $30 additional content wins from
Slide 11: Q3 2026 Housing Shipments & Starts Revenue $314M
Revenue Q3 2026 Shipments & Starts Q3 2025 Q3 2026 % Change +4% $314M vs. Q3 2025 MH Wholesale1 25,700 26,100 +2% Housing Starts2 356 341 (4%) % of Q3 2026 Net Sales (in thousands) Revenue Growth MH Content Per Unit1 Growth 32% ($ in millions) 10-Yr CAGR: +14% 10-Yr CAGR: +13% +4% (2%) $6,681 $6,565
Slide 12: End Market Landscape
End Market Landscape Meaningful retail demand inflection likely depends on consumer confidence and interest rate improvement RV Marine ✓ Affordability constraints and soft consumer ✓ Premium categories have outperformed confidence continue to weigh on retail value-oriented categories, where demand c
Slide 13: Financial Strength Supports Disciplined Capital Allocation
Financial Strength Supports Disciplined Capital Allocation Available Liquidity1 Net Leverage1,2 $716M 2.9x Capital Allocation Q3 2026 YTD ✓ Ample liquidity provides flexibility to execute across market cycles ✓ Balanced capital allocation strategy enables reinvestment into long-term profitable growt
Slide 14: Full-Year 2026 Outlook & Initial 2027 End Market Outlook
Full-Year 2026 Outlook & Initial 2027 End Market Outlook End Market Outlook FY 2025 FY 2026 Prior 2026 Initial 2027 Actuals Outlook Outlook End Market Outlook RV Wholesale Unit Shipments 342K1 285K to 295K 285K to 300K Flat RV Retail Unit Shipments 349K2 Down LDD % Unchanged Flat Marine Wholesale Po
Slide 15: Non-GAAP Reconciliations
Non-GAAP Reconciliations 15
Slide 16: Use of Non-GAAP Financial Measures
Use of Non-GAAP Financial Measures This presentation contains non-GAAP financial measures. Management believes that, when considered together with reported amounts, these measures are useful to investors and management in understanding our ongoing operations and in the analysis of ongoing operating
Slide 17: Non-GAAP Reconciliations
Non-GAAP Reconciliations Reconciliation of Net Income to EBITDA to Adjusted EBITDA and Adjusted EBITDA Margin ($ in millions) 2019 Q3 2025 Q3 2026 Q3 2026 TTM Net income $90 $35 $21 $133 + Depreciation & amortization 63 42 43 171 + Interest expense, net 37 18 19 74 + Income taxes 28 13 10 42 EBITDA
Slide 18: Non-GAAP Reconciliations
Non-GAAP Reconciliations Reconciliation of Net Income to Adjusted Net Income to Adjusted Diluted Earnings Per Common Share 1 ($ in millions, except per share data) 2019 Q3 2025 Q3 2026 Q3 2026 TTM Net income $90 $35 $21 $133 + Merger-related costs - - 15 15 + Restructuring and related costs - - 2 2
Slide 19: Non-GAAP Reconciliations
Non-GAAP Reconciliations Reconciliation of Operating Margin to Adjusted Operating Margin 2019 Q3 2025 2025 Q3 2026 Q3 2026 TTM Operating margin 6.6% 6.8% 7.0% 5.1% 6.3% Merger-related costs - - - 1.5% 0.4% Restructuring and related costs - - - 0.2% 0.1% Adjusted operating margin 6.6% 6.8% 7.0% 6.8%
Slide 20: Non-GAAP Reconciliations
Non-GAAP Reconciliations Available Liquidity (as of Q3 2026) ($ in millions) Total Revolver Credit Capacity $875.0 Capital Structure Less: Total Revolver Used 174.6 (including outstanding letters of credit) • $125.0M Term Loan ($114.1M o/s), scheduled Unused Credit Capacity $700.4 quarterly installm