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Patrick Industries, Inc. - PATK STOCK NEWS

Welcome to our dedicated news page for Patrick Industries (Ticker: PATK), a resource for investors and traders seeking the latest updates and insights on Patrick Industries.

Our selection of high-quality news articles is accompanied by an expert summary from Rhea-AI, detailing the impact and sentiment surrounding the news at the time of release, providing a deeper understanding of how each news could potentially affect Patrick Industries's stock performance. The page also features a concise end-of-day stock performance summary, highlighting the actual market reaction to each news event. The list of tags makes it easy to classify and navigate through different types of news, whether you're interested in earnings reports, stock offerings, stock splits, clinical trials, fda approvals, dividends or buybacks.

Designed with both novice traders and seasoned investors in mind, our page aims to simplify the complex world of stock market news. By combining real-time updates, Rhea-AI's analytical insights, and historical stock performance data, we provide a holistic view of Patrick Industries's position in the market.

News
Patrick Industries, Inc. Announces First Quarter 2024 Earnings Release and Conference Call Webcast on May 2, 2024
Rhea-AI Summary
Patrick Industries, Inc. announced its first-quarter 2024 earnings release and conference call webcast scheduled for May 2, 2024. The company will unveil its financial results before the market opens and host a conference call at 10:00 a.m. Eastern Time on the same day, to institutional investors and analysts. Interested parties can listen to the live webcast on Patrick's website and access a replay later on the investor relations website.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
0.74%
Tags
earnings
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News
Patrick Industries to Participate in Upcoming 2024 Roth Conference
Rhea-AI Summary
Patrick Industries, Inc. (PATK) will participate in the 36th Annual Roth Conference, with key executives engaging in meetings with investors and analysts. The event aims to enhance visibility and attract potential stakeholders in the Outdoor Enthusiast and Housing markets.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
1.65%
Tags
conferences
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News
ROCKFORD FOSGATE® APPOINTS DOUG DOBSON AS DIGITAL APPLICATION MANAGER
Rhea-AI Summary
Rockford Fosgate appoints Doug Dobson as Digital Application Manager, bringing expertise to enhance car audio experience.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-2.15%
Tags
management
News
ROCKFORD FOSGATE® APPOINTS DEREK SCHMIEDL AS DIRECTOR OF INTEGRATION
Rhea-AI Summary
Rockford Fosgate appoints Derek Schmiedl as Director of Integration to drive audio integration initiatives, leveraging his extensive industry experience and success track record.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-2.15%
Tags
management
-
News
Patrick Industries, Inc. Appoints Andy Roeder as Executive Vice President-Finance and Chief Financial Officer
Rhea-AI Summary
Patrick Industries, Inc. appoints Andy Roeder as Executive Vice President-Finance, CFO, and Treasurer. Roeder brings extensive experience from Polaris Boats and Bennington Marine. Patrick Industries aims to strengthen its finance function to drive growth in the Outdoor Enthusiast and Housing markets.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-2.15%
Tags
management
-
News
ROCKFORD FOSGATE® APPOINTS JORDAN BEECHAM AS REGIONAL SALES MANAGER, MOTORCYCLE AUDIO
Rhea-AI Summary
Rockford Fosgate, a top player in high-performance audio systems, welcomes Jordan Beecham as Regional Sales Manager, Motorcycle. Beecham's expertise will boost aftermarket motorcycle audio sales, fostering category relationships and growth.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
2.09%
Tags
management
News
Patrick Industries, Inc. Reports Fourth Quarter and Full Year 2023 Financial Results and Declares Quarterly Cash Dividend
Rhea-AI Summary
Patrick Industries, Inc. reported a decrease in net sales by 18% to $781 million in the fourth quarter of 2023. The company achieved full year 2023 operating margin of 7.5% and reduced inventory by $158 million. Despite challenges in the RV and marine markets, the company executed strong free cash flows through disciplined cost control and prudent working capital management. The recent acquisition of Sportech, LLC in January 2024 represents their largest acquisition to date, providing a solid platform for future organic and strategic growth.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
1.92%
Tags
dividends earnings
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News
Patrick Industries, Inc. Completes Acquisition of Sportech, LLC and Announces Fourth Quarter 2023 Earnings Release and Conference Call Webcast on February 8, 2024
Rhea-AI Summary
Patrick Industries, Inc. (PATK) has completed a $315 million acquisition of Sportech, LLC, a designer and manufacturer of component solutions for powersports OEMs and the aftermarket. The acquisition is expected to solidify Patrick's position in the Powersports market and extend its strategic growth plan. The company also expects to incur one-time charges of approximately $7 million related to the acquisition. Additionally, Patrick will release its fourth quarter and twelve months 2023 financial results on February 8, 2024, and host a conference call to discuss the results and other business matters.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-0.25%
Tags
acquisition earnings
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News
Monomoy Capital Partners Agrees to Sell Sportech to Patrick Industries for Approximately $315 Million
Rhea-AI Summary
Monomoy Capital Partners (MCP) (NASDAQ: PATK) announces the sale of Sportech, a leading designer and manufacturer of cab components, to Patrick Industries, Inc. The transaction is expected to close on or before January 24, 2024, subject to customary closing conditions and regulatory approval. Monomoy invested in Sportech in 2019 and worked on significant revenue growth and operational improvements. Sportech is a premier powersports platform, providing integrated door systems, windshields, roofs, canopies, and more across various end markets.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
0.92%
Tags
none
News
Patrick Industries, Inc. Signs Definitive Agreement to Acquire Sportech, LLC - a Leading Supplier of Premium Component Solutions to Powersports OEMs
Rhea-AI Summary
Patrick Industries, Inc. (PATK) has signed a definitive agreement to acquire Sportech, LLC for approximately $315 million. The transaction is expected to close on or before January 24, 2024, and is subject to customary closing conditions and regulatory approval. Sportech, based in Elk River, Minnesota, is a leading designer and manufacturer of high-value, complex component solutions to powersports OEMs, adjacent market OEMs, and the aftermarket. The acquisition is expected to be immediately accretive to profit margins and net income per share.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
0.92%
Tags
acquisition
Stock PATK logo
Patrick Industries, Inc.

Nasdaq:PATK

PATK Rankings

#1752 Ranked by Market Cap
#331 Ranked by Stock Gains
#1385 Ranked by Dividends

PATK Stock Data

2.40B
21.32M
4.66%
95.47%
6%
Wood Kitchen Cabinet and Countertop Manufacturing
Manufacturing
Link
US
Elkhart

About PATK

patrick industries was founded in 1959 and is the leading manufacturer of building products and materials to the manufactured housing and recreational vehicle industries in the united states. the company also supplies many of its products to the industrial market that include customers in the kitchen cabinet, office and household furniture, fixtures and commercial furnishings, marine, architectural and the automotive aftermarket. in addition, patrick industries is an independent wholesale distributor for the manufactured housing and recreational vehicle industries supplying pre-finished wall and ceiling panels, drywall and drywall finishing products, electronics, cabinet doors and cabinet components, cement siding, interior passage doors, furniture, roofing products, lighting, flooring, electrical, wiring, plumbing and other related products.