PATRICK INDUSTRIES INC
For the period ended Jun 29, 2025. Filed Aug 7, 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.
Jun 29, 2025 · Filed Aug 7, 2025
PATK$78.79-5.2%Stored close · as of Nov 6, 2026
Contents
Item 1. Financial Statements
CONDENSED CONSOLIDATED STATEMENTS OF INCOME (Unaudited)
| Second Quarter Ended | Six Months Ended | |||
|---|---|---|---|---|
| ($ and shares in thousands, except per share data) | June 29, 2025 | June 30, 2024 | June 29, 2025 | June 30, 2024 |
| Net sales | $1,047,554 | $1,016,624 | $2,050,974 | $1,950,116 |
| Cost of goods sold | 796,922 | 785,330 | 1,571,751 | 1,513,967 |
| Gross profit | 250,632 | 231,294 | 479,223 | 436,149 |
| Operating expenses: | ||||
| Warehouse and delivery | 46,075 | 38,739 | 90,657 | 76,188 |
| Selling, general and administrative | 93,206 | 83,588 | 187,137 | 168,834 |
| Amortization of intangible assets | 24,629 | 24,278 | 49,138 | 47,096 |
| Total operating expenses | 163,910 | 146,605 | 326,932 | 292,118 |
| Operating income | 86,722 | 84,689 | 152,291 | 144,031 |
| Interest expense, net | 18,869 | 20,343 | 37,981 | 40,433 |
| Other expenses | 24,420 | — | 24,420 | — |
| Income before income taxes | 43,433 | 64,346 | 89,890 | 103,598 |
| Income taxes | 10,997 | 16,462 | 19,216 | 20,621 |
| Net income | $32,436 | $47,884 | $70,674 | $82,977 |
| Basic earnings per common share (1) | $1.00 | $1.47 | $2.17 | $2.55 |
| Diluted earnings per common share (1) | $0.96 | $1.44 | $2.07 | $2.50 |
| Weighted average shares outstanding – Basic (1) | 32,520 | 32,586 | 32,595 | 32,533 |
| Weighted average shares outstanding – Diluted (1) | 33,823 | 33,254 | 34,116 | 33,187 |
(1)The prior year periods reflect the impact of the three-for-two stock split paid in December 2024. See Note 1 "Basis of Presentation and Significant Accounting Policies" for further details.
CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (Unaudited)
| Second Quarter Ended | Six Months Ended | |||
|---|---|---|---|---|
| ($ in thousands) | June 29, 2025 | June 30, 2024 | June 29, 2025 | June 30, 2024 |
| Net income | $32,436 | $47,884 | $70,674 | $82,977 |
| Other comprehensive (loss) income, net of tax: | ||||
| Foreign currency translation (loss) gain | (6) | 3 | (2) | (29) |
| Total other comprehensive (loss) income | (6) | 3 | (2) | (29) |
| Comprehensive income | $32,430 | $47,887 | $70,672 | $82,948 |
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