PATRICK INDUSTRIES INC

Patrick Industries declared a quarterly cash dividend of $0.47 per share, payable on June 8, 2026, to shareholders of record on May 26, 2026. At its Annual Meeting of Shareholders, all nine director nominees were elected, Deloitte & Touche LLP was ratified as the independent registered public accounting firm for 2026, and the advisory vote on executive compensation for fiscal year 2025 was approved.

PATRICK INDUSTRIES reported a net income of $39.48 million for Q1 2026, an increase from $38.24 million in Q1 2025, with basic EPS rising to $1.21 from $1.17. Net sales slightly decreased to $997.17 million from $1,003.42 million year-over-year. The company completed two acquisitions for approximately $7.0 million and increased stock repurchases to $14.69 million. The conditional conversion feature of its 1.75% Convertible Senior Notes due 2028 was triggered.

Patrick Industries, Inc. announced on May 4, 2026, that it has terminated discussions with LCI Industries regarding a potential merger of equals. While both companies had reached consensus on leadership and strategic vision for the combined entity, they were unable to agree on certain other key terms of the transaction. Patrick's CEO, Andy Nemeth, stated the company remains committed to its independent strategic plan, focusing on organic growth, innovation, and its proven M&A strategy to drive long-term shareholder value.

Patrick Industries, Inc. reported first quarter 2026 financial results, with net sales of $997 million, a slight decrease from $1,003 million in Q1 2025. Net income increased 3% to $39 million, while diluted EPS was $1.10, down from $1.11. The company confirmed ongoing discussions with LCI Industries regarding a potential merger of equals transaction. Patrick returned $31 million to shareholders through dividends and share repurchases during the quarter.

Patrick Industries, Inc. confirmed it is in discussions with LCI Industries regarding a potential merger of equals. The company emphasized that there is no assurance any transaction will result from these discussions, nor on the terms or structure. Patrick does not plan to make further comments unless a formal agreement is reached or discussions terminate.