PATRICK INDUSTRIES INC Q2 FY26 Results

Our second quarter results underscore the strength and resilience of our diversified platform, the continued dedication of our team, and our focus on continuing to drive both organic and strategic growth despite uncertain and volatile market conditions. Our strategic diversification across distinct end markets continued to support our overall performance in what has been a challenging consumer discretionary environment. Growth in our Marine, Powersports, and Housing businesses largely offset a double-digit percentage decline in our RV end market revenue amid equally soft RV industry wholesale unit shipments. Despite this uncertainty, we remain encouraged by the level of discipline across the value chain in each of our markets, as our teams, the OEMs we serve, and dealers continue to focus on measured production schedules and prudent inventory management, supporting healthy long-term industry dynamics. Across Patrick, we are staying close to our customers, investing in innovation, and driving additional operational efficiencies, while preserving the flexibility to exceed customer expectations. Our long-term strategy and confidence in Patrick’s value creation opportunity remain unchanged, even as we take a prudent view of the balance of the year given the continued macroeconomic uncertainty across our end markets. We are not relying on a near-term market rebound and are focused on the actions within our control: staying close to our customers, delivering cost-effective product solutions, aligning our cost structure appropriately, advancing high-value growth initiatives, actioning M&A opportunities within our key markets and in alignment with our strategic plan, and continuing to strengthen the capabilities that differentiate Patrick in the marketplace. This focused mindset allows us to manage through near-term uncertainty while building a stronger, more agile platform for the future. With our diversified business model, solid balance sheet, entrepreneurial and customer-first culture, and proven execution capabilities, we believe Patrick is well positioned to deliver long-term profitable growth and shareholder value creation. Consistent with Patrick's long-term vision and strategy, we are excited about the enhanced value proposition the combination with LCI Industries will create for our stakeholders once the transaction is closed, and believe it can enable us to more effectively partner with OEMs to achieve their goals, while driving long-term profitable growth and enhanced shareholder value.

Our strategic investments have positioned Patrick to better support our customers in more ways than ever before. As our OEM customers continue to focus on affordability, efficiency, labor productivity, product differentiation and managing retail demand patterns, we are bringing forward solutions in partnership that are practical, scalable, and aligned with the needs of today’s market. Whether through new product development, component and composite solutions, electrical systems, aftermarket capabilities, advanced manufacturing, value engineering, or The Experience, our teams are working directly with customers to help solve the challenges that matter most to their businesses. Our solutions-oriented approach supports organic growth while helping customers deliver more value to the end consumer. While near-term demand conditions remain challenging, we believe our portfolio of brands, technical expertise, and ability to execute across our end markets continue to reinforce Patrick as a trusted partner across business cycles.