Aankondiging • 23h
Patrick Industries, Inc. (NasdaqGS:PATK) entered into a definitive agreement to acquire LCI Industries (NYSE:LCII) for $2.9 billion. Patrick Industries, Inc. (NasdaqGS:PATK) entered into a definitive agreement to acquire LCI Industries (NYSE:LCII) for $2.9 billion on June 30, 2026. Under the terms of the acquisition, LCI shareholders will receive 1.2440 shares of Patrick common stock for each share of LCI common stock they own. Following completion of the transaction, Patrick shareholders will own approximately 52% of the combined company and LCI shareholders will own approximately 48%. LCI Industries and Patrick will mutually agree upon a new corporate name for the combined company and it will be headquartered in Elkhart, Indiana. In case of termination of transaction, Patrick Industries, Inc. will pay a termination fee of $94.20 million and LCI Industries will pay a termination fee of $94.20 million. Upon closing, Patrick Industries CEO Andy Nemeth will serve as CEO of the combined company. The Board of Directors of the combined company will consist of 12 directors, with six designated by Patrick and six designated by Lippert. Patrick Director Todd Cleveland will serve as Chair of the Board and Lippert Interim CEO and Director Johnny Sirpilla will serve as Vice Chair of the Board.
The transaction is subject to approval by shareholders of Patrick Industries, Inc. and LCI Industries, the receipt of required regulatory approvals and the satisfaction of other customary closing conditions including, the termination or expiration of the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act, registration statement effectiveness(S-4 / F-4) and listing / approval of new shares on stock exchange. The deal has been unanimously approved by the board of directors of Patrick Industries, Inc. and LCI Industries. The transaction is expected to close in the first half of 2027. The transaction expected to be accretive to Adjusted EPS in Year 1.
J.P. Morgan Securities LLC acted as lead financial advisor to Patrick Industries, Inc. J.P. Morgan Securities LLC acted as fairness opinion provider to Patrick Industries, Inc. Robert W. Baird & Co. Incorporated acted as co-lead financial advisor to Patrick Industries, Inc. Robert W. Baird & Co. Incorporated acted as fairness opinion provider to Patrick Industries, Inc. Heidi J. Steele of McDermott Will & Schulte LLP acted as legal advisor to Patrick Industries, Inc. Perella Weinberg Partners LP acted as financial advisor to LCI Industries. Jonathan L. Davis, Allison M. Wein, Andrew Norwich, Andrea Agathoklis Murino, Lauren Taylor, Scott D. Price, Alisa H. Tschorke, Robert M. Hayward, Michael P. Keeley, Dean S. Shulman and Sehj Vather of Kirkland & Ellis LLP acted as legal advisor to LCI Industries. FGS Global is serving as strategic communications advisor to LCI Industries. Perella Weinberg Partners LP acted as fairness opinion provider to LCI Industries. Aankondiging • Jun 29
Patrick Industries, Inc.(NasdaqGS:PATK) dropped from Russell 2000 Dynamic Index Patrick Industries, Inc.(NasdaqGS:PATK) dropped from Russell 2000 Dynamic Index Declared Dividend • May 25
First quarter dividend of US$0.47 announced Shareholders will receive a dividend of US$0.47. Ex-date: 26th May 2026 Payment date: 8th June 2026 Dividend yield will be 2.1%, which is lower than the industry average of 2.3%. Sustainability & Growth Dividend is well covered by both earnings (41% earnings payout ratio) and cash flows (33% cash payout ratio). The dividend has increased by an average of 19% per year over the past 6 years and payments have been stable during that time. EPS is expected to grow by 20% over the next year, which should provide support to the dividend and adequate earnings cover. Aankondiging • May 16
Patrick Industries, Inc. Declares Quarterly Cash Dividend, Payable on June 8, 2026 Patrick Industries, Inc. announced that on May 14, 2026 its Board of Directors declared a quarterly cash dividend on its common stock of $0.47 per share. The dividend is payable on June 8, 2026 to shareholders of record at the close of business on May 26, 2026. Aankondiging • Apr 19
LCI Industries Reportedly in Merger Talks with Patrick LCI Industries (NYSE:LCII) shares rose 6% on April 17, 2026 after Bloomberg reported the company is in talks to combine with rival recreational-vehicle supplier Patrick Industries, Inc. (NasdaqGS:PATK). The companies are negotiating a potential all-stock transaction, according to people familiar with the matter cited in the Bloomberg report. A deal could be announced in the coming weeks, the people said. Both companies operate in the recreational-vehicle supply sector. The potential merger would combine two competitors in the RV components and parts industry. Aankondiging • Apr 17
Patrick Industries, Inc. to Report Q1, 2026 Results on Apr 30, 2026 Patrick Industries, Inc. announced that they will report Q1, 2026 results Pre-Market on Apr 30, 2026 Aankondiging • Feb 21
Patrick Industries, Inc., Annual General Meeting, May 14, 2026 Patrick Industries, Inc., Annual General Meeting, May 14, 2026. Aankondiging • Feb 05
Patrick Industries, Inc. Declares Quarterly Cash Dividend, Payable on March 9, 2026 On February 2, 2026, Board of Directors of Patrick Industries, Inc. declared a quarterly cash dividend of $0.47 per share of common stock. The dividend is payable on March 9, 2026, to shareholders of record at the close of business on February 23, 2026. Aankondiging • Jan 23
Patrick Industries, Inc. to Report Q4, 2025 Results on Feb 05, 2026 Patrick Industries, Inc. announced that they will report Q4, 2025 results at 9:30 AM, US Eastern Standard Time on Feb 05, 2026 Aankondiging • Dec 19
Patrick Industries, Inc. (NasdaqGS:PATK) acquired Egis Group LLC. Patrick Industries, Inc. (NasdaqGS:PATK) acquired Egis Group LLC on December 18, 2025. In separate transaction, Patrick Industries, Inc. acquired Quality Engineered Services. Combined revenue for QES and Egis on a trailing 12-month basis through November 2025 was approximately $39 million. QES and Egis will continue to operate under their existing brand names and within their current facilities.
Patrick Industries, Inc. (NasdaqGS:PATK) completed the acquisition of Egis Group LLC on December 18, 2025. Aankondiging • Dec 16
Patrick Industries, Inc. Announces Management Changes, Effective December 12, 2025 On December 12, 2025, Patrick Industries, Inc. announced that Kip B. Ellis, President – Powersports and Housing, notified the company of his decision to resign from the company as an officer and employee effective December 12, 2025, to pursue interests outside of the Company. Mr. Ellis does not have any disagreement with the Company on any matter, including any matter relating to the Company’s operations, policies or practices. With Mr. Ellis’s resignation, the company has appointed Hugo E. Gonzalez, currently Executive Vice President – Operations and Chief Operation Officer, to serve as the company’s President - Powersports and Housing effective December 12, 2025, and in alignment with the company’s succession plan. Aankondiging • Nov 21
Patrick Industries, Inc. Announces Increase to Regular Quarterly Cash Dividend, Payable on December 15, 2025 Patrick Industries, Inc. announced that on November 19, 2025, its Board of Directors approved an increase in the amount of its quarterly cash dividend on its common stock to $0.47 per share from $0.40 per share. The dividend is payable on December 15, 2025 to shareholders of record at the close of business on December 1, 2025. Aankondiging • Oct 17
Patrick Industries, Inc. to Report Q3, 2025 Results on Oct 30, 2025 Patrick Industries, Inc. announced that they will report Q3, 2025 results Pre-Market on Oct 30, 2025 Aankondiging • Oct 03
Patrick Industries, Inc. Appoints Jeff Rodino as President Patrick Industries, Inc. announced that Jeff Rodino will assume the role of President with responsibility for leadership, strategic planning and financial performance. Aankondiging • Aug 16
Patrick Industries, Inc. Declares Quarterly Cash Dividend, Payable on September 8, 2025 Patrick Industries, Inc. announced that on August 14, 2025, its Board of Directors declared a quarterly cash dividend on its common stock of $0.40 per share. The dividend is payable on September 8, 2025 to shareholders of record at the close of business on August 25, 2025. Aankondiging • Jul 18
Patrick Industries, Inc. to Report Q2, 2025 Results on Jul 31, 2025 Patrick Industries, Inc. announced that they will report Q2, 2025 results Pre-Market on Jul 31, 2025 Aankondiging • May 16
Patrick Industries, Inc. Declares Quarterly Cash Dividend, Payable on June 9, 2025 Patrick Industries, Inc. declared a quarterly cash dividend on its common stock of $0.40 per share. The dividend is payable on June 9, 2025 to shareholders of record at the close of business on May 27, 2025. Aankondiging • Apr 18
Patrick Industries, Inc. to Report Q1, 2025 Results on May 01, 2025 Patrick Industries, Inc. announced that they will report Q1, 2025 results Pre-Market on May 01, 2025 Aankondiging • Feb 08
Patrick Industries, Inc. Declares Quarterly Cash Dividend, Payable on March 3, 2025 On February 3, 2025, the Board of Directors of Patrick Industries, Inc. declared a quarterly cash dividend of $0.40 per share of common stock, which will be payable on March 3, 2025, to shareholders of record at the close of business on February 18, 2025. Aankondiging • Feb 03
Patrick Industries, Inc. (NasdaqGS:PATK) acquired Elkhart Composites, Inc. from THOR Industries, Inc. (NYSE:THO). Patrick Industries, Inc. (NasdaqGS:PATK) acquired Elkhart Composites, Inc. from THOR Industries, Inc. (NYSE:THO) on February 3, 2025.
Patrick Industries, Inc. (NasdaqGS:PATK) completed the acquisition of Elkhart Composites, Inc. from THOR Industries, Inc. (NYSE:THO) on February 3, 2025. Aankondiging • Jan 24
Patrick Industries, Inc. to Report Q4, 2024 Results on Feb 06, 2025 Patrick Industries, Inc. announced that they will report Q4, 2024 results Pre-Market on Feb 06, 2025 Aankondiging • Nov 16
Patrick Industries, Inc. Announces Quarterly Cash Dividend, Payable on December 9, 2024 Patrick Industries, Inc. announced that on November 14, 2024, its Board of Directors (the "Board") approved an increase in the amount of its quarterly cash dividend on its common stock to $0.60 per share from $0.55 per share. The dividend is payable on December 9, 2024 to shareholders of record at the close of business on November 25, 2024. Reported Earnings • Nov 01
Third quarter 2024 earnings released: EPS: US$1.88 (vs US$1.84 in 3Q 2023) Third quarter 2024 results: EPS: US$1.88 (up from US$1.84 in 3Q 2023). Revenue: US$919.4m (up 6.2% from 3Q 2023). Net income: US$40.9m (up 3.3% from 3Q 2023). Profit margin: 4.4% (down from 4.6% in 3Q 2023). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 6.5% p.a. on average during the next 3 years, compared to a 5.4% growth forecast for the Auto Components industry in Germany. Over the last 3 years on average, earnings per share has fallen by 21% per year but the company’s share price has increased by 21% per year, which means it is well ahead of earnings. Aankondiging • Oct 18
Patrick Industries, Inc. to Report Q3, 2024 Results on Oct 31, 2024 Patrick Industries, Inc. announced that they will report Q3, 2024 results Pre-Market on Oct 31, 2024 Recent Insider Transactions • Sep 16
President of RV recently sold €2.4m worth of stock On the 12th of September, Jeffrey Rodino sold around 20k shares on-market at roughly €119 per share. This transaction amounted to 13% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of €22m more than they bought in the last 12 months. Aankondiging • Sep 09
Patrick Industries, Inc. (NasdaqGS:PATK) acquired Icon Direct Inc. Patrick Industries, Inc. (NasdaqGS:PATK) acquired Icon Direct Inc. on September 9, 2024. Consistent with our other acquisitions, RecPro will continue to operate under its existing brand name and within its current facilities.
Patrick Industries, Inc. (NasdaqGS:PATK) completed the acquisition of Icon Direct Inc. on September 9, 2024. Aankondiging • Aug 16
Patrick Industries, Inc. Declares Quarterly Cash Dividend, Payable on September 9, 2024 Patrick Industries, Inc. announced that on August 15, 2024, its Board of Directors declared a quarterly cash dividend on its common stock of $0.55 per share. The dividend is payable on September 9, 2024 to shareholders of record at the close of business on August 26, 2024. Reported Earnings • Aug 02
Second quarter 2024 earnings released: EPS: US$2.20 (vs US$1.97 in 2Q 2023) Second quarter 2024 results: EPS: US$2.20 (up from US$1.97 in 2Q 2023). Revenue: US$1.02b (up 10% from 2Q 2023). Net income: US$47.9m (up 13% from 2Q 2023). Profit margin: 4.7% (up from 4.6% in 2Q 2023). The increase in margin was driven by higher revenue. Revenue is forecast to grow 8.3% p.a. on average during the next 2 years, compared to a 5.6% growth forecast for the Auto Components industry in Germany. Over the last 3 years on average, earnings per share has fallen by 14% per year but the company’s share price has increased by 19% per year, which means it is well ahead of earnings. Aankondiging • Aug 01
Patrick Industries, Inc. Appoints Matthew S. Filer as Chief Accounting Officer Matthew S. Filer was elected as Chief Accounting Officer of Patrick Industries, Inc. on May 16, 2024. Mr. Filer joined the company in November 2022 and served as the Company's Senior Vice President - Finance. He served as Interim Executive Vice President - Finance, Chief Financial Officer, and Treasurer from May 2023 to March 2024, at which point he resumed his role as Senior Vice President - Finance. Aankondiging • Jul 19
Patrick Industries, Inc. to Report Q2, 2024 Results on Aug 01, 2024 Patrick Industries, Inc. announced that they will report Q2, 2024 results After-Market on Aug 01, 2024 Valuation Update With 7 Day Price Move • Jul 17
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to €112, the stock trades at a forward P/E ratio of 15x. Average forward P/E is 7x in the Auto Components industry in Germany. Total returns to shareholders of 87% over the past three years. Aankondiging • Jul 03
Patrick Industries, Inc.(NasdaqGS:PATK) dropped from Russell 2000 Value-Defensive Index Patrick Industries, Inc.(NasdaqGS:PATK) dropped from Russell 2000 Value-Defensive Index Declared Dividend • May 24
First quarter dividend of US$0.55 announced Shareholders will receive a dividend of US$0.55. Ex-date: 3rd June 2024 Payment date: 17th June 2024 Dividend yield will be 1.9%, which is lower than the industry average of 2.3%. Sustainability & Growth Dividend is well covered by both earnings (29% earnings payout ratio) and cash flows (13% cash payout ratio). The dividend has increased by an average of 22% per year over the past 4 years and payments have been stable during that time. EPS is expected to grow by 19% over the next year, which should provide support to the dividend and adequate earnings cover. Aankondiging • May 22
Patrick Industries, Inc. Declares Quarterly Cash Dividend, Payable on June 17, 2024 Patrick Industries, Inc. announced that on May 16, 2024, its Board of Directors (the "Board") declared a quarterly cash dividend on its common stock of $0.55 per share. The dividend is payable on June 17, 2024 to shareholders of record at the close of business on June 3, 2024. Reported Earnings • May 02
First quarter 2024 earnings released: EPS: US$1.62 (vs US$1.40 in 1Q 2023) First quarter 2024 results: EPS: US$1.62 (up from US$1.40 in 1Q 2023). Revenue: US$933.5m (up 3.7% from 1Q 2023). Net income: US$35.1m (up 16% from 1Q 2023). Profit margin: 3.8% (up from 3.4% in 1Q 2023). The increase in margin was driven by higher revenue. Revenue is forecast to grow 9.0% p.a. on average during the next 2 years, compared to a 4.8% growth forecast for the Auto Components industry in Germany. Over the last 3 years on average, earnings per share has fallen by 3% per year but the company’s share price has increased by 7% per year, which means it is well ahead of earnings. Aankondiging • Apr 20
Patrick Industries, Inc. to Report Q1, 2024 Results on May 02, 2024 Patrick Industries, Inc. announced that they will report Q1, 2024 results Pre-Market on May 02, 2024 Aankondiging • Apr 02
Patrick Industries, Inc., Annual General Meeting, May 16, 2024 Patrick Industries, Inc., Annual General Meeting, May 16, 2024, at 10:00 Eastern Standard Time. Agenda: To elect nine directors to the Board of Directors to serve until the 2025 Annual Meeting of Shareholders; to ratify the appointment of Deloitte & Touche LLP as independent registered public accounting firm for fiscal year 2024; and to approve, in an advisory and non-binding vote, the compensation of the Company’s named executive officers for fiscal year 2023 as disclosed in the Proxy Statement (a “Say-on- Pay” vote). Recent Insider Transactions • Feb 28
President of Powersports & Housing recently sold €1.9m worth of stock On the 26th of February, Kip Ellis sold around 18k shares on-market at roughly €106 per share. This transaction amounted to 14% of their direct individual holding at the time of the trade. In the last 3 months, there was an even bigger sale from another insider worth €2.0m. Insiders have been net sellers, collectively disposing of €17m more than they bought in the last 12 months. Recent Insider Transactions • Feb 19
Independent Director recently sold €339k worth of stock On the 15th of February, Michael Kitson sold around 3k shares on-market at roughly €103 per share. This transaction amounted to 28% of their direct individual holding at the time of the trade. In the last 3 months, there was an even bigger sale from another insider worth €2.0m. Insiders have been net sellers, collectively disposing of €13m more than they bought in the last 12 months. Declared Dividend • Feb 12
Fourth quarter dividend of US$0.55 announced Shareholders will receive a dividend of US$0.55. Ex-date: 16th February 2024 Payment date: 4th March 2024 Dividend yield will be 1.9%, which is lower than the industry average of 2.3%. Sustainability & Growth Dividend is well covered by both earnings (29% earnings payout ratio) and cash flows (14% cash payout ratio). The dividend has increased by an average of 22% per year over the past 4 years and payments have been stable during that time. EPS is expected to grow by 41% over the next 2 years, which should provide support to the dividend and adequate earnings cover. Reported Earnings • Feb 09
Full year 2023 earnings released: EPS: US$6.64 (vs US$14.82 in FY 2022) Full year 2023 results: EPS: US$6.64 (down from US$14.82 in FY 2022). Revenue: US$3.47b (down 29% from FY 2022). Net income: US$142.9m (down 56% from FY 2022). Profit margin: 4.1% (down from 6.7% in FY 2022). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 6.8% p.a. on average during the next 2 years, compared to a 4.8% growth forecast for the Auto Components industry in Germany. Aankondiging • Jan 31
Patrick Industries, Inc. Announces Executive Changes Patrick Industries, Inc. announced that Kip Ellis, Executive Vice President of Operations and Chief Operating Officer was named President - Powersports and Housing with responsibility in general for the oversight, leadership, strategic planning, and accounting for Powersports and Housing end market businesses. Jeff Rodino has been named President – RV with responsibility in general for the oversight, leadership, strategic planning, and accounting for RV end market businesses. The Board of Directors has approved the appointment of Hugo Gonzalez as Executive Vice President of Operations and Chief Operating Officer. Mr. Gonzalez, age 43, joined the Company in 2006 and has consistently been promoted to roles with increasing responsibility. He was named Plant Manager for Adorn in 2008 and was promoted to Business Unit Director in 2017. In 2020 he was named as a Group Vice President of Operations before he was promoted to Senior Vice President of RV Operations in 2021. The Board of Directors has also approved the appointment of Charlie Roeder as Executive Vice President of Sales. Mr. Roeder, age 42, joined the company when Patrick acquired the Indiana Transport business unit in 2017, which he was named Business Unit Director. In 2019 he was named Group Vice President of Operations over the Company's Metals group before he was promoted to Senior Vice President of RV Operations in 2020. Mr. Roeder has 18 years of experience in the RV industry and started Indiana Transport in December 2009. Aankondiging • Jan 25
Patrick Industries, Inc. to Report Q4, 2023 Results on Feb 08, 2024 Patrick Industries, Inc. announced that they will report Q4, 2023 results Pre-Market on Feb 08, 2024 Aankondiging • Jan 24
Patrick Industries, Inc. (NasdaqGS:PATK) completed the acquisition of Sportech, Inc. from Monomoy Capital Partners III, L.P. a fund managed by Monomoy Capital Management, L.P. Patrick Industries, Inc. (NasdaqGS:PATK) entered into a definitive agreement to acquire Sportech, Inc. from Monomoy Capital Partners III, L.P. a fund managed by Monomoy Capital Management, L.P. for approximately $315 million on January 10, 2024. The all-cash transaction will be funded under the Company’s existing credit facility and cash on hand. Following closing, Sportech will continue its operations as a wholly owned subsidiary of Patrick under the Sportech name and within its existing facilities. The acquisition of Sportech is expected to be immediately accretive to profit margins and net income per share. Baird acted as an exclusive financial advisor and Michael Sartor, David Towarnicky, Jared Rusman, Steven Ort, Louis Hernandez, John Kefer, Stephen Brecher, Robert Zitko, Evangelia Podaras, Adam Petravicius, James Dolphin, Jennifer Sheehan, Jacob Clark, Luci Hague, Mike Thorpe and James Mutchnik of Kirkland & Ellis LLP served as legal counsels to Sportech and Monomoy with respect to the transaction. Transaction is subject to customary closing conditions, including regulatory approval and is expected to close on or before January 24, 2024.
Patrick Industries, Inc. (NasdaqGS:PATK) completed the acquisition of Sportech, Inc. from Monomoy Capital Partners III, L.P. a fund managed by Monomoy Capital Management, L.P. on January 24, 2024. Aankondiging • Jan 11
Patrick Industries, Inc. (NasdaqGS:PATK) entered into a definitive agreement to acquire Sportech, Inc. from Monomoy Capital Partners III, L.P. a fund managed by Monomoy Capital Management, L.P. for approximately $315 million. Patrick Industries, Inc. (NasdaqGS:PATK) entered into a definitive agreement to acquire Sportech, Inc. from Monomoy Capital Partners III, L.P. a fund managed by Monomoy Capital Management, L.P. for approximately $315 million on January 10, 2024. The all-cash transaction will be funded under the Company’s existing credit facility and cash on hand. Following closing, Sportech will continue its operations as a wholly owned subsidiary of Patrick under the Sportech name and within its existing facilities. Baird acted as an exclusive financial advisor and Kirkland & Ellis LLP served as legal counsel to Sportech and Monomoy with respect to the transaction. Transaction is subject to customary closing conditions, including regulatory approval and is expected to close on or before January 24, 2024. Recent Insider Transactions • Dec 17
Chairman of the Board recently sold €2.0m worth of stock On the 14th of December, Todd Cleveland sold around 25k shares on-market at roughly €80.86 per share. This transaction amounted to 12% of their direct individual holding at the time of the trade. In the last 3 months, they made an even bigger sale worth €3.1m. Todd has been a net seller over the last 12 months, reducing personal holdings by €11m. Recent Insider Transactions • Dec 10
CEO & Director recently sold €1.2m worth of stock On the 6th of December, Andy Nemeth sold around 15k shares on-market at roughly €80.61 per share. This transaction amounted to 4.7% of their direct individual holding at the time of the trade. In the last 3 months, there was an even bigger sale from another insider worth €3.1m. This was Andy's only on-market trade for the last 12 months. Recent Insider Transactions • Nov 19
Chairman of the Board recently sold €3.1m worth of stock On the 15th of November, Todd Cleveland sold around 40k shares on-market at roughly €76.92 per share. This transaction amounted to 15% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Todd has been a net seller over the last 12 months, reducing personal holdings by €8.0m. Aankondiging • Nov 17
Patrick Industries, Inc. Approves Quarterly Cash Dividend, Payable on December 11, 2023 Patrick Industries, Inc. announced that on November 15, 2023, its board of directors approved an increase in the amount of its quarterly cash dividend on its common stock to $0.55 per share from $0.45 per share. The dividend is payable on December 11, 2023, to shareholders of record at the close of business on November 27, 2023. Reported Earnings • Oct 27
Third quarter 2023 earnings released: EPS: US$1.84 (vs US$2.66 in 3Q 2022) Third quarter 2023 results: EPS: US$1.84 (down from US$2.66 in 3Q 2022). Revenue: US$866.1m (down 22% from 3Q 2022). Net income: US$39.6m (down 33% from 3Q 2022). Profit margin: 4.6% (down from 5.3% in 3Q 2022). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 3.7% p.a. on average during the next 3 years, compared to a 5.0% growth forecast for the Auto Components industry in Germany. Aankondiging • Oct 13
Patrick Industries, Inc. to Report Q3, 2023 Results on Oct 26, 2023 Patrick Industries, Inc. announced that they will report Q3, 2023 results Pre-Market on Oct 26, 2023 Aankondiging • Aug 19
Patrick Industries, Inc. Declares Quarterly Cash Dividend, Payable on September 11, 2023 Patrick Industries, Inc. announced that on August 17, 2023, its Board of Directors declared a quarterly cash dividend on its common stock of $0.45 per share. The dividend is payable on September 11, 2023, to shareholders of record at the close of business on August 28, 2023. New Risk • Jul 28
New minor risk - Profit margin trend The company's profit margins are lower than last year and have reduced by more than 30%. Net profit margin: 4.4% Last year net profit margin: 6.9% This is considered a minor risk. A large drop in profit margin could indicate the company does not have strong competitive advantages or it is yet to establish itself and its core business. Even if it is a well established business, this may make it a much riskier investment than one that has a combination of proven competitive advantages and a stable or growing profit margin. Currently, the following risks have been identified for the company: Minor Risks High level of debt (119% net debt to equity). Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Profit margins are more than 30% lower than last year (4.4% net profit margin). Significant insider selling over the past 3 months (€4.9m sold). Reported Earnings • Jul 28
Second quarter 2023 earnings released: EPS: US$1.97 (vs US$5.24 in 2Q 2022) Second quarter 2023 results: EPS: US$1.97 (down from US$5.24 in 2Q 2022). Revenue: US$920.7m (down 38% from 2Q 2022). Net income: US$42.4m (down 64% from 2Q 2022). Profit margin: 4.6% (down from 7.9% in 2Q 2022). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 1.0% p.a. on average during the next 2 years, compared to a 5.4% growth forecast for the Auto Components industry in Germany. Aankondiging • Jul 14
Patrick Industries, Inc. to Report Q2, 2023 Results on Jul 27, 2023 Patrick Industries, Inc. announced that they will report Q2, 2023 results at 9:30 AM, US Eastern Standard Time on Jul 27, 2023 Recent Insider Transactions • Jun 12
Chairman of the Board recently sold €1.0m worth of stock On the 6th of June, Todd Cleveland sold around 15k shares on-market at roughly €69.56 per share. This transaction amounted to 5.8% of their direct individual holding at the time of the trade. In the last 3 months, they made an even bigger sale worth €2.0m. Todd has been a net seller over the last 12 months, reducing personal holdings by €7.4m. Valuation Update With 7 Day Price Move • Jun 08
Investor sentiment improves as stock rises 19% After last week's 19% share price gain to €72.50, the stock trades at a forward P/E ratio of 11x. Average forward P/E is 7x in the Auto Components industry in Germany. Total returns to shareholders of 34% over the past year. Simply Wall St's valuation model estimates the intrinsic value at €82.51 per share. Recent Insider Transactions • May 28
Chairman of the Board recently sold €1.9m worth of stock On the 24th of May, Todd Cleveland sold around 30k shares on-market at roughly €64.01 per share. This transaction amounted to 9.4% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Todd has been a net seller over the last 12 months, reducing personal holdings by €4.4m. Aankondiging • May 27
Patrick Industries, Inc. Declares Quarterly Dividend, Payable on June 26, 2023 Patrick Industries, Inc. announced that on May 25, 2023, its Board of Directors declared a quarterly cash dividend on its common stock of $0.45 per share. The dividend is payable on June 26, 2023, to shareholders of record at the close of business on June 12, 2023. Reported Earnings • Apr 30
First quarter 2023 earnings released: EPS: US$1.40 (vs US$5.00 in 1Q 2022) First quarter 2023 results: EPS: US$1.40 (down from US$5.00 in 1Q 2022). Revenue: US$900.1m (down 33% from 1Q 2022). Net income: US$30.2m (down 73% from 1Q 2022). Profit margin: 3.4% (down from 8.4% in 1Q 2022). The decrease in margin was driven by lower revenue. Revenue is forecast to stay flat during the next 2 years compared to a 5.9% growth forecast for the Auto Components industry in Germany. Buying Opportunity • Apr 24
Now 21% undervalued Over the last 90 days, the stock is up 3.3%. The fair value is estimated to be €79.74, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 33% over the last 3 years. Earnings per share has grown by 57%. Revenue is forecast to decline by 15% in 2 years. Earnings is forecast to decline by 39% in the next 2 years. Buying Opportunity • Apr 02
Now 20% undervalued Over the last 90 days, the stock is up 8.0%. The fair value is estimated to be €76.38, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 33% over the last 3 years. Earnings per share has grown by 57%. Revenue is forecast to decline by 16% in 2 years. Earnings is forecast to decline by 38% in the next 2 years. Buying Opportunity • Mar 14
Now 22% undervalued Over the last 90 days, the stock is up 18%. The fair value is estimated to be €82.24, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 33% over the last 3 years. Earnings per share has grown by 57%. Revenue is forecast to decline by 15% in 2 years. Earnings is forecast to decline by 38% in the next 2 years. Reported Earnings • Feb 10
Full year 2022 earnings released: EPS: US$14.82 (vs US$9.87 in FY 2021) Full year 2022 results: EPS: US$14.82 (up from US$9.87 in FY 2021). Revenue: US$4.88b (up 20% from FY 2021). Net income: US$328.2m (up 46% from FY 2021). Profit margin: 6.7% (up from 5.5% in FY 2021). The increase in margin was driven by higher revenue. Revenue is expected to decline by 8.0% p.a. on average during the next 2 years, while revenues in the Auto Components industry in Germany are expected to grow by 5.7%. Aankondiging • Feb 10
Patrick Industries, Inc. Declares Quarterly Cash Dividend, Payable on March 6, 2023 Patrick Industries, Inc. on February 6, 2023, the Company's Board of Directors declared a quarterly cash dividend of $0.45 per share of common stock. The dividend is payable on March 6, 2023, to shareholders of record at the close of business on February 21, 2023. Aankondiging • Jan 27
Patrick Industries, Inc. to Report Q4, 2022 Results on Feb 09, 2023 Patrick Industries, Inc. announced that they will report Q4, 2022 results Pre-Market on Feb 09, 2023 Aankondiging • Jan 05
Patrick Industries, Inc. Appoints Todd Cleveland as Chairman Effective as of January 1, 2023, Todd Cleveland was appointed as Chairman of the Board of Patrick Industries, Inc. (the “Company”). Previously he was Executive Chairman of the Board. Board Change • Nov 16
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 4 experienced directors. 5 highly experienced directors. Independent Director Denis Suggs was the last director to join the board, commencing their role in 2019. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Reported Earnings • Oct 28
Third quarter 2022 earnings released: EPS: US$2.66 (vs US$2.52 in 3Q 2021) Third quarter 2022 results: EPS: US$2.66 (up from US$2.52 in 3Q 2021). Revenue: US$1.11b (up 4.9% from 3Q 2021). Net income: US$58.8m (up 2.5% from 3Q 2021). Profit margin: 5.3% (down from 5.4% in 3Q 2021). The decrease in margin was driven by higher expenses. Revenue is expected to decline by 11% p.a. on average during the next 2 years, while revenues in the Auto Components industry in Germany are expected to grow by 6.4%. Recent Insider Transactions • Aug 20
Executive Chairman of the Board recently sold €2.5m worth of stock On the 16th of August, Todd Cleveland sold around 40k shares on-market at roughly €63.11 per share. This was the largest sale by an insider in the last 3 months. Todd has been a seller over the last 12 months, reducing personal holdings by €7.0m. Reported Earnings • Jul 29
Second quarter 2022 earnings released: EPS: US$5.24 (vs US$2.57 in 2Q 2021) Second quarter 2022 results: EPS: US$5.24 (up from US$2.57 in 2Q 2021). Revenue: US$1.48b (up 45% from 2Q 2021). Net income: US$116.5m (up 98% from 2Q 2021). Profit margin: 7.9% (up from 5.8% in 2Q 2021). The increase in margin was driven by higher revenue. Over the next year, revenue is expected to shrink by 2.8% compared to a 10% growth forecast for the industry in Germany. Valuation Update With 7 Day Price Move • May 23
Investor sentiment deteriorated over the past week After last week's 16% share price decline to €54.50, the stock trades at a forward P/E ratio of 5x. Average forward P/E is 10x in the Auto Components industry in Germany. Total loss to shareholders of 23% over the past year. Aankondiging • May 14
Patrick Industries, Inc. Declares Quarterly Cash Dividend, Payable on June 13, 2022 Patrick Industries, Inc. announced that on May 12, 2022, its board of directors declared a quarterly cash dividend on its common stock of $0.33 per share. The dividend is payable on June 13, 2022, to shareholders of record at the close of business on May 31, 2022. Aankondiging • May 10
Patrick Industries, Inc. (NASDAQ: PATK) acquired Diamondback Towers, LLC. Patrick Industries, Inc. (NASDAQ: PATK) acquired Diamondback Towers, LLC on May 9, 2022.
Patrick Industries, Inc. (NASDAQ: PATK) completed the acquisition of Diamondback Towers, LLC on May 9, 2022. Recent Insider Transactions • May 08
Executive Chairman of the Board recently sold €960k worth of stock On the 6th of May, Todd Cleveland sold around 15k shares on-market at roughly €63.97 per share. This was the largest sale by an insider in the last 3 months. Todd has been a seller over the last 12 months, reducing personal holdings by €4.1m. Reported Earnings • Apr 29
First quarter 2022 earnings released: EPS: US$5.00 (vs US$2.09 in 1Q 2021) First quarter 2022 results: EPS: US$5.00 (up from US$2.09 in 1Q 2021). Revenue: US$1.34b (up 58% from 1Q 2021). Net income: US$112.7m (up 137% from 1Q 2021). Profit margin: 8.4% (up from 5.6% in 1Q 2021). The increase in margin was driven by higher revenue. Over the next year, revenue is forecast to grow 1.6%, compared to a 9.4% growth forecast for the industry in Germany. Board Change • Apr 27
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 4 experienced directors. 5 highly experienced directors. Independent Director Denis Suggs was the last director to join the board, commencing their role in 2019. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Aankondiging • Apr 15
Patrick Industries, Inc. to Report Q1, 2022 Results on Apr 28, 2022 Patrick Industries, Inc. announced that they will report Q1, 2022 results Pre-Market on Apr 28, 2022 Aankondiging • Apr 12
Patrick Industries, Inc., Annual General Meeting, May 12, 2022 Patrick Industries, Inc., Annual General Meeting, May 12, 2022, at 10:00 Eastern Daylight. Board Change • Apr 02
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 4 experienced directors. 5 highly experienced directors. Independent Director Denis Suggs was the last director to join the board, commencing their role in 2019. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Aankondiging • Feb 25
Patrick Industries, Inc. (NasdaqGS:PATK) signed a definitive agreement to acquire Rockford Corporation (OTCPK:ROFO). Patrick Industries, Inc. (NasdaqGS:PATK) signed a definitive agreement to acquire Rockford Corporation (OTCPK:ROFO) on February 24, 2022. Following closing, Rockford will continue its operations as a wholly owned subsidiary of Patrick in its existing facility in Tempe, Arizona. The transaction is expected to close on March 7, 2022. Aankondiging • Feb 24
Patrick Industries, Inc. Declares Quarterly Cash Dividend, Payable on March 21, 2022 Patrick Industries, Inc. announced that on February 22, 2022, its Board of Directors declared a quarterly cash dividend on its common stock of $0.33 per share. The dividend is payable on March 21, 2022, to shareholders of record at the close of business on March 7, 2022. Reported Earnings • Feb 11
Full year 2021 earnings: EPS in line with analyst expectations despite revenue beat Full year 2021 results: EPS: US$9.87 (up from US$4.27 in FY 2020). Revenue: US$4.08b (up 64% from FY 2020). Net income: US$224.9m (up 132% from FY 2020). Profit margin: 5.5% (up from 3.9% in FY 2020). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 3.5%. Over the next year, revenue is forecast to grow 4.5% compared to a 3.1% decline forecast for the industry in Germany. Aankondiging • Jan 28
Patrick Industries, Inc. to Report Q4, 2021 Results on Feb 10, 2022 Patrick Industries, Inc. announced that they will report Q4, 2021 results Pre-Market on Feb 10, 2022 Valuation Update With 7 Day Price Move • Jan 22
Investor sentiment deteriorated over the past week After last week's 18% share price decline to €55.50, the stock trades at a forward P/E ratio of 6x. Average forward P/E is 11x in the Auto Components industry in Germany. Aankondiging • Nov 24
Patrick Industries, Inc. (NasdaqGS:PATK) acquired Williamsburg Marine LLC and Williamsburg Furniture, Inc. Patrick Industries, Inc. (NasdaqGS:PATK) acquired Williamsburg Marine LLC and Williamsburg Furniture, Inc. on November 22, 2021. The Williamsburg businesses will continue to operate on a stand-alone basis under their respective brand names in their existing facilities. Aggregate trailing 12-months revenue of Williamsburg Marine LLC and Williamsburg Furniture, Inc. through October 2021 was approximately $41 million. The acquisitions are expected to be immediately accretive to net income per share of Patrick Industries, Inc.
Patrick Industries, Inc. (NasdaqGS:PATK) acquired Williamsburg Marine LLC and Williamsburg Furniture, Inc. on November 22, 2021. Upcoming Dividend • Nov 19
Upcoming dividend of US$0.33 per share Eligible shareholders must have bought the stock before 26 November 2021. Payment date: 13 December 2021. Trailing yield: 1.6%. Lower than top quartile of German dividend payers (3.1%). Lower than average of industry peers (1.9%). Recent Insider Transactions • Nov 10
Independent Director recently sold €277k worth of stock On the 5th of November, Michael Kitson sold around 4k shares on-market at roughly €68.83 per share. In the last 3 months, there was an even bigger sale from another insider worth €1.5m. Insiders have been net sellers, collectively disposing of €4.3m more than they bought in the last 12 months. Reported Earnings • Oct 29
Third quarter 2021 earnings released: EPS US$2.52 (vs US$1.65 in 3Q 2020) The company reported a strong third quarter result with improved earnings, revenues and profit margins. Third quarter 2021 results: Revenue: US$1.06b (up 51% from 3Q 2020). Net income: US$57.4m (up 54% from 3Q 2020). Profit margin: 5.4% (up from 5.3% in 3Q 2020). The increase in margin was driven by higher revenue. Aankondiging • Aug 31
Patrick Industries, Inc. (NasdaqGS:PATK) acquired Tumacs Boat Covers. Patrick Industries, Inc. (NasdaqGS:PATK) acquired Tumacs Boat Covers on August 30, 2021. The Tumacs Boat business will continue to operate on a stand-alone basis under the Tumacs Covers brand name in its existing facilities. Bob McCall, President of Tumacs and the Tumacs team are joining Patrick Industries. The acquisition is expected to be immediately accretive to earnings per share.
Patrick Industries, Inc. (NasdaqGS:PATK) completed the acquisition of Tumacs Boat Covers on August 30, 2021. Recent Insider Transactions • Aug 28
Executive Chairman of the Board recently sold €1.5m worth of stock On the 26th of August, Todd Cleveland sold around 21k shares on-market at roughly €72.85 per share. This was the largest sale by an insider in the last 3 months. Todd has been a seller over the last 12 months, reducing personal holdings by €2.7m. Aankondiging • Aug 10
Patrick Industries, Inc. (NasdaqGS:PATK) acquired Coyote Mfg Co from David Money and Tony Lanier. Patrick Industries, Inc. (NasdaqGS:PATK) acquired Coyote Mfg Co from David Money and Tony Lanier on August 9, 2021. he business will continue to operate on a stand-alone basis under the Coyote brand name in its existing facility. Coyote team will be joining Patrick. The acquisition is expected to be immediately accretive to earnings per share.
Patrick Industries, Inc. (NasdaqGS:PATK) completed the acquisition of Coyote Mfg Co from David Money and Tony Lanier on August 9, 2021. Reported Earnings • Jul 30
Second quarter 2021 earnings released: EPS US$2.57 (vs US$0.031 in 2Q 2020) The company reported a strong second quarter result with improved earnings, revenues and profit margins. Second quarter 2021 results: Revenue: US$1.02b (up 141% from 2Q 2020). Net income: US$59.0m (up US$58.3m from 2Q 2020). Profit margin: 5.8% (up from 0.2% in 2Q 2020). The increase in margin was driven by higher revenue. Aankondiging • Jun 28
Patrick Industries, Inc.(NasdaqGS:PATK) dropped from Russell 3000E Value Index Patrick Industries, Inc.(NasdaqGS:PATK) dropped from Russell 3000E Value Index