PATRICK INDUSTRIES INC
For the period ended Dec 31, 2023. Filed Feb 29, 2024.
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FY2023 · Filed Feb 29, 2024
PATK$79.70-2.9%Stored close · as of Nov 10, 2026
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Consolidated Statements of Income
| ($ in thousands except per share data) | Year Ended December 31, | ||
|---|---|---|---|
| 2023 | 2022 | 2021 | |
| NET SALES | $3,468,045 | $4,881,872 | $4,078,092 |
| Cost of goods sold | 2,685,812 | 3,821,934 | 3,276,898 |
| GROSS PROFIT | 782,233 | 1,059,938 | 801,194 |
| Operating Expenses: | |||
| Warehouse and delivery | 143,921 | 163,026 | 139,606 |
| Selling, general and administrative | 299,418 | 327,513 | 253,547 |
| Amortization of intangible assets | 78,694 | 73,229 | 56,329 |
| Total operating expenses | 522,033 | 563,768 | 449,482 |
| OPERATING INCOME | 260,200 | 496,170 | 351,712 |
| Interest expense, net | 68,942 | 60,760 | 57,890 |
| Income before income taxes | 191,258 | 435,410 | 293,822 |
| Income taxes | 48,361 | 107,214 | 68,907 |
| NET INCOME | $142,897 | $328,196 | $224,915 |
| BASIC EARNINGS PER COMMON SHARE | $6.64 | $14.82 | $9.87 |
| DILUTED EARNINGS PER COMMON SHARE | $6.50 | $13.49 | $9.63 |
| Weighted average shares outstanding - Basic | 21,519 | 22,140 | 22,780 |
| Weighted average shares outstanding - Diluted | 22,025 | 24,471 | 23,355 |
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