Patrick Industries ( (PATK) ) has issued an update.
Patrick Industries reported a 6% rise in net sales to $919 million in Q3 2024, driven by a 13% boost in Housing revenue and the acquisition of Sportech, despite a 21% drop in Marine revenue. The company also completed the acquisition of RecPro, enhancing its position in the RV aftermarket. Net income rose 3% to $41 million, with adjusted EBITDA up 7% to $121 million. Patrick plans an investor day on December 3, 2024, in NYC to discuss these developments and future strategies.
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