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Jun 29, 2025
Patrick Industries Q2 2025 Earnings Report
Patrick Industries reported higher revenue and adjusted EPS in Q2 2025, supported by strength in RV and housing segments despite softness in marine and powersports.
Key Takeaways
Patrick Industries saw a 3% increase in revenue and adjusted EPS rose to $1.50 in Q2 2025. The RV and housing segments grew, while marine and powersports declined. Operating margin remained flat and the company maintained strong liquidity.
Revenue grew 3% year-over-year to $1.05 billion, driven by gains in RV and housing segments.
Adjusted EPS rose to $1.50, up from $1.44 in the prior year, excluding a legal settlement charge.
Adjusted EBITDA increased 4% to $135 million with a margin of 12.9%.
Total net liquidity stood at $835 million and total net leverage ratio was 2.6x.
Revenue by Segment
Forward Guidance
Patrick expects weaker wholesale shipments in H2 2025 but is optimistic about long-term demand recovery. The company remains focused on organic growth and strategic acquisitions.
Positive Outlook
- Strong balance sheet with ample liquidity
- Disciplined capital allocation approach
- Continued investment in innovation and automation
- Execution of strategic acquisitions anticipated
- Resilience in equity markets and tariff clarity expected to support sentiment
Challenges Ahead
- Lower wholesale shipments expected in second half of 2025
- Softness in powersports and marine markets
- Uncertainty in consumer sentiment despite improvements
- Year-over-year decline in free cash flow
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
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