PATRICK INDUSTRIES INC
For the period ended Mar 30, 2025. Filed May 8, 2025.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Mar 30, 2025 · Filed May 8, 2025
PATK$78.79-5.2%Stored close · as of Nov 6, 2026
Contents
Condensed Consolidated Statements of Income for the Three Months ended March 30, 2025 and March 31, 2024 (Unaudited)
CONDENSED CONSOLIDATED STATEMENTS OF INCOME (Unaudited)
| First Quarter Ended | ||
|---|---|---|
| ($ and shares in thousands, except per share data) | March 30, 2025 | March 31, 2024 |
| Net sales | $1,003,420 | $933,492 |
| Cost of goods sold | 774,829 | 728,637 |
| Gross profit | 228,591 | 204,855 |
| Operating expenses: | ||
| Warehouse and delivery | 44,582 | 37,449 |
| Selling, general and administrative | 93,931 | 85,246 |
| Amortization of intangible assets | 24,509 | 22,818 |
| Total operating expenses | 163,022 | 145,513 |
| Operating income | 65,569 | 59,342 |
| Interest expense, net | 19,112 | 20,090 |
| Income before income taxes | 46,457 | 39,252 |
| Income taxes | 8,219 | 4,159 |
| Net income | $38,238 | $35,093 |
| Basic earnings per common share (1) | $1.17 | $1.08 |
| Diluted earnings per common share (1) | $1.11 | $1.06 |
| Weighted average shares outstanding – Basic (1) | 32,671 | 32,480 |
| Weighted average shares outstanding – Diluted (1) | 34,416 | 33,120 |
(1)The prior year period reflects the impact of the three-for-two stock split paid in December 2024. See Note 1 "Basis of Presentation and Significant Accounting Policies" for further details.
CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (Unaudited)
| First Quarter Ended | ||
|---|---|---|
| ($ in thousands) | March 30, 2025 | March 31, 2024 |
| Net income | $38,238 | $35,093 |
| Other comprehensive income (loss), net of tax: | ||
| Foreign currency translation gain (loss) | 4 | (32) |
| Total other comprehensive income (loss) | 4 | (32) |
| Comprehensive income | $38,242 | $35,061 |
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