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Patrick Industries Inc (PATK) delivers essential component solutions for recreational vehicles, marine, housing, and powersports markets. This news hub provides investors and industry professionals with timely updates on corporate developments directly impacting market positioning and operational strategy.
Access official press releases and curated analysis covering quarterly earnings, strategic acquisitions, product innovations, and leadership updates. Our repository simplifies tracking PATK's growth initiatives across manufacturing and distribution segments, including advancements in laminated products, marine systems, and aftermarket solutions.
Bookmark this page for streamlined access to PATK's financial communications and market-moving announcements. Check regularly for updates on operational expansions, sustainability efforts, and partnerships shaping the future of component manufacturing.
Rockford Fosgate, a leader in high-performance audio systems, has announced significant leadership changes. Bill Jackson, President and CEO for 18 years, will transition to Sr. Operations Business Advisor at Patrick Industries. Zach Luke, a 20-year company veteran, will succeed him as President. Jackson expressed pride in the Rockford team's accomplishments and confidence in Luke's leadership. Luke, with extensive experience in sales, marketing, and leadership, is poised to lead Rockford Fosgate into a new era. He emphasized his commitment to honoring the brand's legacy while ensuring its continued growth. As President, Luke will focus on leadership, strategic planning, and organizational alignment to shape the company's future.
Patrick Industries (NASDAQ: PATK) has declared a quarterly cash dividend of $0.55 per share on its common stock. The dividend will be paid on September 9, 2024, to shareholders of record at the close of business on August 26, 2024. This announcement was made by the company's Board of Directors on August 15, 2024.
Patrick Industries is a leading component solutions provider serving the RV, Marine, Powersports, and Housing markets. Founded in 1959, the company has grown to encompass more than 85 leading brands and employs approximately 10,000 skilled team members throughout the United States. Patrick's full solutions model integrates design, manufacturing, distribution, and transportation, positioning it as a trusted partner in the industry.
Rockford Fosgate partners with Polaris to deliver Apex Audio Performance in select 2025 RZR models, including the new RZR Pro R, Pro S, and Pro XP Ultimate vehicles. The ultimate trim level features a Stage-4 factory audio system with an 800-watt output, including:
- Ride Command source unit
- Two 100-watt 1-inch tweeters
- Two pairs of 100-watt 6.5-inch speakers (front component and rear coaxial)
- 400-watt 4-channel amplifier
- 10-inch subwoofer with a 400-watt amplifier
The system boasts enhanced speakers with longer voice coils for improved sound clarity and bass response, new motor structures for increased output, and amplifiers with patented constant power technology for superior performance and reliability.
Patrick Industries (NASDAQ: PATK) reported strong Q2 2024 results with net sales increasing 10% to $1.02 billion. This growth was driven by a 17% increase in RV revenue and an 11% increase in Housing revenue, offsetting a 30% decline in Marine revenue. The company's operating margin improved by 10 basis points to 8.3%, while net income rose 13% to $48 million. Diluted earnings per share increased 11% to $2.16. Patrick Industries maintained a solid balance sheet with a total net leverage ratio of 2.6x and liquidity of $519 million. The company's diversification strategy and cost management initiatives have contributed to its resilience in volatile market conditions.
Patrick Industries (NASDAQ: PATK) has announced the release date for its second quarter and six months 2024 financial results. The company will publish its results before the market opens on Thursday, August 1, 2024, followed by a conference call at 10:00 a.m. Eastern Time. The call will be to institutional investors and analysts, with a dial-in number of (877) 407-9036. A live webcast will be available on Patrick's website, along with a replay of the call.
Patrick Industries is a leading component solutions provider for the RV, Marine, Powersports, and Housing markets. Founded in 1959, the company offers design, manufacturing, distribution, and transportation services, representing over 85 brands. Headquartered in Elkhart, IN, Patrick employs approximately 10,000 team members across the United States.
Rockford Fosgate introduced a new 300-watt subwoofer system designed specifically for 2023 and later Harley-Davidson® CVO touring bikes with Skyline infotainment units. These subwoofers fit seamlessly into the saddlebags and can be easily removed for convenience. Engineered for superior bass performance, the system integrates R-Tune® and M-DEQ™ technologies to optimize sound quality regardless of riding conditions. An optional 600-watt secondary amplifier allows the addition of one or two 10-inch subwoofers for bikes with a four-speaker system. These new subwoofer systems will be available at Harley-Davidson® dealerships and online.
Patrick Industries (NASDAQ: PATK) will participate in CJS Securities' 24th Annual "New Ideas" Summer Conference on July 10, 2024. CEO Andy Nemeth is scheduled to deliver a presentation and engage in one-on-one meetings with institutional investors and analysts. The event will be held at the Metropolis Country Club in White Plains, New York. Patrick Industries, a prominent provider of component solutions for the RV, Marine, Powersports, and Housing markets, has been operational since 1959, offering a comprehensive solutions model encompassing design, manufacturing, and distribution. The company, headquartered in Elkhart, IN, employs approximately 10,000 team members across the United States.
Rockford Fosgate has announced its tenth consecutive year as the 'Official Motorcycle Audio Sponsor' of the Sturgis Motorcycle Rally, taking place from August 2nd to 10th, 2024.
The company will also sponsor the '22nd Anniversary Mayor's Ride' during the event. Rockford Fosgate's booth on Lazelle Street will serve as the hub for daily activities, including on-bike demonstrations of the latest aftermarket audio systems for Harley-Davidson motorcycles, available for purchase and installation.
On August 5th, Rockford Fosgate will host the All-Out Bagger Invitational Motorcycle Show, featuring top bagger builders and hosted by Jeff G. Holt, editorial director of V-Twin Visionary. Team members will also provide sales and installation services from July 26th to August 10th at Black Hills Harley-Davidson.
Patrick Industries (NASDAQ: PATK) announced its participation in the 2024 Baird Global Consumer, Technology & Services Conference from June 4-6, 2024. CEO Andy Nemeth and CFO Andy Roeder will engage in one-on-one meetings and a fireside chat with institutional investors and analysts on June 4th. The event will take place at the InterContinental New York Barclay in New York, NY. Patrick Industries is a key player in the RV, Marine, Powersports, and Housing markets with over 85 brands. Headquartered in Elkhart, IN, the company employs around 10,000 people across the United States.
Patrick Industries (NASDAQ: PATK) announced its Board of Directors declared a quarterly cash dividend of $0.55 per share on May 16, 2024. The dividend will be payable on June 17, 2024, to shareholders of record as of June 3, 2024. Patrick Industries is a component solutions provider for the RV, Marine, Powersports, and Housing markets, with over 85 leading brands. Headquartered in Elkhart, IN, the company employs about 10,000 people across the U.S.
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