PATK earnings analysis
What we found in PATK's 10-Q: the parts that mattered, the offsets in the same document, and what the company said about what comes next.
Our reading of the filing · Free to read, no account needed
Patrick Industries, Inc. reported Q1 2026 results with revenue of $997.2 million, slightly below estimates of $1.003 billion. However, EPS exceeded expectations, coming in at $1.10 compared to an estimated $1.07. Segment results showed growth in the powersports and marine segments, while the RV and manufactured housing segments declined. Management highlighted challenges in the RV market but maintained a stable outlook for liquidity.
The parts that mattered.
Pulled out of the filing itself, with the figures the company reported.
- EPS Exceeds Estimates
- EPS came in at $1.10, beating estimates of $1.07, a positive surprise of 2.8%.
- Revenue Slightly Missed Estimates
- Revenue was reported at $997.2 million, missing the estimate of $1.003 billion by $6.25 million.
- Strong Growth in Powersports
- Sales to the powersports market increased by 28%, translating to an increase of $22.7 million compared to the prior year.
- Marine Segment Growth
- Sales to the marine industry increased by 14%, which equals a revenue increase of $20.8 million compared to the prior year.
- Operating Profit Remains Stable
- Operating income was stable at $64.7 million, with an operating margin consistent at 6.5%.
- Income Tax Expense Reduced
- Income tax expense decreased to $6.9 million from $8.2 million, reflecting a lower effective tax rate of 14.8%.
And the other side of it.
The offsets in the same document — the things a summary that only listed the good news would have left out.
- RV Market Decline Continues
- Sales to the RV market declined by 7%, resulting in a decrease of $32.4 million compared to the previous year.
- Manufactured Housing Sales Drop
- Sales to the manufactured housing (MH) market decreased by 11%, a decline amounting to $18.7 million compared to the previous period.
- Operational Cash Flow Deterioration
- Net cash used in operating activities was $14 million, a decline from $40.1 million provided in the prior year.
What they reported.
What the company itself reported, taken out of the document.
- Earnings per share
- $1.1
- Gross margin
- 22.8%
- Operating margin
- 6.5%
- Segment
- RV
- Segment
- Marine
- Segment
- Powersports
- Segment
- MH
- Segment
- Industrial
What they said about what is next.
No specific forward guidance provided.
The filing reads about the same as the one before it.
What came before.
- 10-K · February 19, 2026
- Patrick Industries positions itself as a scaled component supplier to RV, marine, powersports, manufactured housing and industrial markets with a two-segment model (Manufacturing and Distribution) and continued…
- 10-Q · November 6, 2025
- Patrick Industries reported Q3 net sales of $975,631,000 (Q3 2024: $919,444,000), beating consensus and driving a $220,964,000 gross profit. Diluted EPS was $1.01 (Q3 2024: $1.20) and operating income declined to…
- 10-Q · August 7, 2025
- Patrick Industries reported Q2 revenue of $1,047,554,000, up $30.9M (+3.0%) versus Q2 2024, with gross profit rising to $250,632,000 (gross margin ~23.9%). Net income and diluted EPS declined: net income fell to…
- 10-Q · May 8, 2025
- Patrick Industries reported first-quarter net sales of $1,003,420,000, up $69,928,000 (≈7.5%) versus Q1 2024, with gross profit rising to $228,591,000 and diluted EPS of $1.11 (vs. $1.06). Operating income increased to…
This is our reading of a public filing, not the filing. Read the original on SEC.gov · Educational only. Nothing here is investment advice.
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