Patrick Industries (PATK) Investor presentation summary

Business mix and growth model

• Q2 2026 TTM net sales were $3.939B: RV $1.671B (42%), housing $1.172B (30%), marine $662M (17%) and powersports $433M (11%).

• Revenue CAGR was 19% and adjusted diluted EPS CAGR 35% from 2010 to Q2 2026 TTM, supported by strategic M&A and expanded end-market reach.

• M&A approach centers on preserving leadership, culture and brand autonomy while pursuing aligned targets; stated end-market EBITDA multiples range from 5x to 8x.

• Growth levers include content gains, new business wins, acquisitions, digital printing, full-solution offerings and rising powersports OEM attachment rates.

Performance and end markets

• Versus FY 2019, Q2 2026 TTM net sales rose 69% to $3.939B; gross margin increased 500 bps to 23.1% and adjusted diluted EPS rose 65% to $4.23.

• RV and marine wholesale shipments were down 22% and 29% versus FY 2019, while adjusted EBITDA margin improved 150 bps to 11.6%.

• Q2 2026 net sales were $1.04B and adjusted operating margin was 7.5%; adjusted EBITDA was $126M, with a 12.1% margin, and adjusted diluted EPS was $1.29.

• Q2 2026 TTM revenue changes YoY: RV $1.7B, down 2%; marine $662M, up 18%; powersports $433M, up 26%; housing $1.2B, down 2%.

• FY 2026 outlook: adjusted operating margin flat; operating cash flow $320M-$350M, capex $70M-$80M, free cash flow ~$250M and tax rate 24%-25%.

Capital and financial flexibility

• Q2 2026 TTM free cash flow was $128M; average free cash flow conversion was 134% from 2021 to Q2 2026 TTM.

• Q2 2026 liquidity was $691M and net leverage was 3.0x; no major debt maturities were scheduled until 2028.

• From 2021 to Q2 2026, ~77% of $2.2B in capital allocation went to acquisitions and capex; priorities include strategic M&A, organic growth, technology, automation and AI.

• Between Jan. 1 and June 28, 2026, ~1.1M shares were repurchased at a $95.82 weighted average price; ~$62M remained under the authorization.