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Patrick Industries reports developments tied to its component solutions business for RV, marine, powersports, manufactured housing and industrial markets. The company serves OEM and aftermarket customers through design, manufacturing, distribution and transportation capabilities, with products that include laminated materials, fabricated aluminum products, cabinetry, doors, furniture and related components.
Recurring news includes quarterly results by Outdoor Enthusiast and Housing markets, cash dividend actions, product and design initiatives such as The Experience digital design studio, subsidiary updates involving Rockford Fosgate, investor conference participation and corporate-development matters.
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.
Rockford Fosgate, a leading high-performance audio systems company, has partnered with the Harley-Davidson Museum as the official Motorcycle Audio partner. This collaboration will enhance the audio experience for visitors through various events and activations, such as the H-D Museum Bike Night Concert Series and the H-D Homecoming Festival. The partnership aims to engage customers and showcase Rockford Fosgate's sound systems, providing a unique opportunity to connect with motorcycle enthusiasts.
Patrick Industries, Inc. reported a strong first quarter for 2024, with net sales increasing 4% to $933 million, driven by growth in RV and housing revenue as well as acquisitions. The company completed its largest acquisition to date, operating margin increased, and net income rose by 16%. Adjusted earnings per share also saw a significant increase. Cash flow improved, and the balance sheet remains solid with net leverage at 2.8x. The company focuses on growth, diversification, and strategic acquisitions to drive future organic and strategic growth.
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