Patrick Industries Reports Flat Q3 2026 Revenue Amid RV Market Decline and Marine Segment Growth
Patrick Industries (PATK) reported third-quarter 2026 net sales of $975 million, maintaining flat year-over-year performance. While the recreational vehicle (RV) segment faced a 15% revenue decline due to lower industry wholesale shipments and disciplined dealer inventory management, this was largely offset by strong growth in the marine and powersports sectors. The marine segment saw a 14% increase in revenue, outperforming broader industry trends. The company's adjusted EBITDA margin expanded by 40 basis points to 11.9%, driven by higher-margin contributions from non-RV segments. Despite industry headwinds, Patrick Industries maintained healthy liquidity of $716 million and provided full-year free cash flow guidance of $230 million to $250 million. Management remains focused on the 'Patrick 2.0' initiative to optimize manufacturing footprints and expects margin expansion through 2027.
Topics: Adjusted EBITDA Margin EPS Housing Segment Marine Segment Net Sales Powersports Segment RV Market Segment Performance