Patrick Industries, Inc. Reports First Quarter 2026 Financial Results

Patrick Industries, Inc. reported financial results for the first quarter ended March 29, 2026. Net sales were $997 million, a slight decrease from $1,003 million in the prior year period, primarily due to lower revenue in the RV and Housing markets, despite growth in Marine and Powersports. Operating income was $65 million, relatively flat compared to the previous year. Net income increased by 3% to $39 million, with diluted earnings per share (EPS) at $1.10 compared to $1.11 in Q1 2025. Adjusted EBITDA was $113 million. The company reported cash flow used in operating activities of $14 million, compared to cash provided by operating activities of $40 million in the prior year. Free cash flow on a trailing twelve-month basis was $194 million. Patrick Industries returned $31 million to shareholders through dividends and share repurchases. The company also announced it is in discussions regarding a potential merger of equals with LCI Industries.