EarningsQ2 2026 Earnings Report

Patrick Industries (PATK) Q2 2026 Earnings Report

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Previous Report: Q1 2026

MX:PATK Q2 2026 EPS Results

Actual EPS$23.27

Consensus EPS$22.47

Beat/MissBeat by +$0.80

One Year Ago EPS$27.27

MX:PATK Q2 2026 Revenue Results

Actual Revenue$18.94B

Expected Revenue$18.09B

Beat/MissBeat by +$849.96M

YoY Revenue Growth-0.56%

Earnings Announcement Details

QuarterQ2 2026

Date07/30/2026

TimeBefore Open

Conference CallThursday, July 30, 2026

MX:PATK Upcoming Earnings

Patrick Industries's next earnings date is estimated for October 22, 2026, based on past reporting schedules.

Q2 2026 Earnings Call Audio

MX:PATK Q2 2026 Earnings Call

0:00 / 0:00

Q2 2026 Earnings Slide Deck

Q2 2026 Earnings Call Summary

Q2 2026

Earnings Call Date:Jul 30, 2026|

% Change Since:

Earnings Call Sentiment|Positive

The call presents a cautiously optimistic outlook. Company-level results show resilience driven by strategic diversification: strong double-digit growth in Marine (+22%) and Powersports (+28%), modest Housing growth (+2%), technology and AI investments, a sizable M&A synergy opportunity (~$150M), and solid liquidity ($691M). Counterbalancing these positives are meaningful RV end-market weakness (RV revenue -15%, wholesale shipments -16%), a significant decline in H1 operating cash flow (from $189M to $69M), elevated inventory/working capital, modest margin deterioration (adjusted operating margin down ~80 bps YoY) and near-term margin risk (~20 bps) from affordability programs. Overall, the positives around diversification, technology, M&A and balance-sheet flexibility outweigh the near-term operational and cash-flow headwinds but management emphasizes caution and discipline.

Company Guidance

Guidance for 2026: Patrick now expects RV retail down low double digits with RV wholesale of 285,000–300,000 units; Marine retail flat to down slightly and Marine wholesale up low single digits; Powersports full‑year unit shipments and organic content up low single digits (implying mid‑to‑high single‑digit growth for the segment); Housing (MH) wholesale shipments and total new housing starts down low‑to‑mid single digits. The company expects 2026 adjusted operating margin to be roughly flat versus 2025, though incremental volume‑based affordability programs could subtract ~20 basis points; operating cash flow $320–$350 million, capital expenditures $70–$80 million (implying roughly $250 million free cash flow) and an effective tax rate of 24–25%. At quarter end net leverage was 3.0x with available liquidity of about $691 million (≈ $661 million unused revolver); in Q2 Patrick returned ≈ $106 million to shareholders ($91M repurchases, $15M dividends), repurchasing ~980,000 shares and leaving roughly $62 million available under the repurchase authorization prior to merger restrictions.

Stable Consolidated Revenue and Organic Growth

Second-quarter net sales of $1.04 billion, down less than 1% year-over-year, with estimated organic growth contributing ~7% during the quarter and trailing 12-month net sales of approximately $3.9 billion.

Strong Segment Growth — Marine

Marine revenue increased 22% year-over-year to $191 million; estimated Marine content per wholesale powerboat unit (TTM) rose 22% to $4,883 and quarterly Marine CPU increased 22% YoY.

Robust Powersports Performance

Powersports revenue increased 28% year-over-year to $123 million, driven by strength in utility-focused units and growing adoption of cabin closures and other premium content.

Housing Resilience and MH Content Gains

Housing revenue rose 2% to $320 million; Manufactured Housing (MH) represented 55% of Housing revenue and estimated MH content per unit (TTM) was $6,673 (flat YoY) with quarterly content up ~4% YoY.

Improving RV Content per Unit Despite Volume Decline

RV revenue was $407 million (down 15%), but RV content per unit (TTM) increased 7% to $5,303 and quarterly CPU rose 2% YoY, reflecting continued success winning business and improving mix.

Investments in Advanced Technology and AI

Launched multimillion-dollar advanced digital printing capability (print-to-substrate) and piloted internal AI process competition; deployed AI-enabled camera systems at Sportech and are using AI in aftermarket platform to drive product introductions and content generation.

Capital Allocation and Liquidity

Repurchased ~$91 million of shares in the quarter (≈980,000 shares) and returned ~$106 million to shareholders (including $15 million of dividends); available liquidity of ~$691 million (≈$661 million unused revolver) and no major debt maturities until 2028.

Strategic M&A and Expected Synergies

Executed an all-stock merger agreement with Lippert with an expected ~ $150 million of net annual run-rate cost synergies and targeted close in H1 2027 (subject to approvals).

Updated Full-Year Guidance and Cash Flow Targets

Updated 2026 outlook: RV wholesale 285k–300k units; Marine wholesale up low single digits; Powersports unit shipments and organic content up low single digits; Housing down low- to mid-single digits. 2026 operating cash flow expected $320–350 million, CapEx $70–80 million, implying free cash flow ≈ $250 million.

MX:PATK Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change
Oct 22, 2026	2026 (Q3)	18.89 / -	18.36	―
Jul 30, 2026	2026 (Q2)	22.47 / 23.27	27.267	-14.67% (-4.00)
Apr 30, 2026	2026 (Q1)	18.89 / 20.00	20.178	-0.90% (-0.18)
Feb 05, 2026	2025 (Q4)	13.23 / 15.27	9.453	61.54% (+5.82)
Oct 30, 2025	2025 (Q3)	16.94 / 18.36	21.814	-15.83% (-3.45)
Jul 31, 2025	2025 (Q2)	25.36 / 27.27	26.177	4.17% (+1.09)
May 01, 2025	2025 (Q1)	17.67 / 20.18	21.687	-6.96% (-1.51)
Feb 06, 2025	2024 (Q4)	9.36 / 9.45	17.087	-44.68% (-7.63)
Oct 31, 2024	2024 (Q3)	22.10 / 21.81	21.941	-0.58% (-0.13)
Aug 01, 2024	2024 (Q2)	24.80 / 26.18	23.504	11.37% (+2.67)

The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.

Beat

Missed