Patrick Industries, Inc. · NASDAQ:PATK
Patrick Industries — Investor Presentation (September 2026)
40 slides from Patrick Industries's investor presentation, September 2026
Slide 1: Investor Presentation September 2026
Investor Presentation September 2026
Slide 2: Forward-Looking Statements
Forward-Looking Statements This presentation contains statements that are “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are generally identified by words such as “estimates,” “guidance,” “expects,” “anticipates,” “
Slide 3: Leading Component Solutions Provider for the Outdoor Enthusiast and Housing Markets
Patrick Industries, Inc. | NASDAQ: PATK Leading Component Solutions Provider for the Outdoor Enthusiast and Housing Markets Marine Powersports $662M | 17% $433M | 11% Q2 2026 TTM Revenue Q2 2026 TTM Revenue & % of Total Net Sales & % of Total Net Sales 2 3 RV Housing $1.7B | 42% $1.2B | 30% Q2 2026
Slide 4: Entrepreneurial Spirit: Track Record of Strategic Growth Through M&A
Entrepreneurial Spirit: Track Record of Strategic Growth Through M&A Aftermarket ($ in millions, except per share data) Strategy & Powersports Platform Market Execution Marine Revenue CAGR Market (2010 to Q2 2026 TTM) Execution 19% Adj. Diluted EPS CAGR (2010 to Q2 2026 TTM) $4,882 35% $4,078 $3,951
Slide 5: Patrick Empowers Entrepreneurial Businesses to Grow, Creating a Stronger Platform Together
Patrick Empowers Entrepreneurial Businesses to Grow, Creating a Stronger Platform Together 1 2 3 Protect the Fuel growth with Patrick Create more value together entrepreneurial edge Preserve Amplify What Companies Offer to Patrick What Patrick Can Add BETTER Together Capital investment in Enhanced E
Slide 6: Strategic Growth Levers Helped Offset Softer Industry Volumes in Q2 2026
Strategic Growth Levers Helped Offset Softer Industry Volumes in Q2 2026 Organic Estimated Q2 2026 Net Sales Growth Drivers1 • Content gains and new business wins • Innovative composite product offerings and solutions • Full solutions and value-engineering capabilities 7% • Increasing Powersports OE
Slide 7: Improved Earnings Power Despite Lower Shipments
Improved Earnings Power Despite Lower Shipments 2019 to Q2 2026 Comparison Q2 2026 $ in millions, except per share data FY 2019 TTM ∆ Wholesale RV Unit Shipments1 406,070 315,159 (22%) Key Drivers Wholesale Marine Unit Shipments2 189,945 135,588 (29%) Strategic Total Net Sales $2,337 $3,939 +69% Div
Slide 8: Resilient Financial Performance Despite Meaningful Wholesale Shipment Declines In RV and Marine
Resilient Financial Performance Despite Meaningful Wholesale Shipment Declines In RV and Marine Net Sales Gross Margin & Adjusted Operating Margin1 Wholesale ($ in millions) Gross Margin Adjusted Operating Margin Shipments $4,882 Remain Well $4,078 $3,468 $3,716 $3,951 $3,939 19.6% 21.7% 22.6% 22.5%
Slide 9: Continued Cash Flow Generation Supports Strategic Capital Allocation
Continued Cash Flow Generation Supports Strategic Capital Allocation Balance sheet and liquidity provide the financial flexibility to remain on offense $128M $691M 3.0x Free Cash Flow (Q2 2026 TTM) Liquidity1 as of Q2 2026 Net Leverage1,2 as of Q2 2026 Capital Allocation (2021 to Q2 2026) $2.2B 59%
Slide 10: Executing a Targeted & Disciplined M&A Strategy
Executing a Targeted & Disciplined M&A Strategy Proven M&A playbook drives overall long-term strategy execution Patrick’s M&A Playbook Results of Patrick’s M&A Strategy Entrepreneur-First Model Deeper customer relationships and product Preserve leadership, culture, and brand autonomy category reach
Slide 11: Capital Returns Enhance Shareholder Value
Capital Returns Enhance Shareholder Value Cash Returned to Shareholders Through Strategic Share Repurchases Annual Dividends (Per Share) ($ in millions) $106 $2.00 $1.81 $77 $1.50 Average Share $49 Repurchases $1.00 2020-2025 $32 $0.69 $23 $19 $0.50 $5 2020 2021 2022 2023 2024 2025 Q2 $- 2026 2020 2
Slide 12: Balanced Capital Structure with Laddered Maturities
Balanced Capital Structure with Laddered Maturities No major debt maturities until 2028 Debt Maturity Schedule as of 6/28/2026 ($ in millions) $1,600 $1,200 $670 Capital Structure as of 6/28/2026 $800 • $125.0M Term Loan ($115.6M o/s), scheduled quarterly installments; balance due October 2029 $205
Slide 13: Robust Free Cash Flow Generation Across Cycles
Robust Free Cash Flow1 Generation Across Cycles ($ in millions) Free Cash Flow 1 Free Cash Flow Conversion 2 RV Wholesale Unit Shipments $350 $332 245% 600K $251 $246 181% 183% $187 101% $128 83% 87% 315K 2021 2022 2023 2024 2025 Q2 2026 TTM 134% Solid free cash flow1 $128M Average Free Cash across
Slide 14: Advanced Products, Innovative Solutions, and Strategic Investments
Advanced Products, Innovative Solutions, and Strategic Investments Patrick Printing Solutions Composites The Experience Full Solutions What It Is What It Is What It Is What It Is Advanced digital printing technology Advanced composite materials and First-of-its-kind digital design studio Full soluti
Slide 15: Significant Runway Remains in All End Markets
Significant Runway Remains in All End Markets Total Addressable Market by End Market1 RV CPU vs. CPU TAM Marine CPU2 vs. CPU TAM $12,000 $17,000 $5,303 Market $4,883 Opportunity Market Opportunity Q2 2026 TTM CPU TAM Q2 2026 TTM CPU TAM Powersports Revenue vs. Revenue TAM Housing CPU vs. CPU TAM ($
Slide 16: Full-Year 2026 Outlook
Full-Year 2026 Outlook (as of Patrick’s Q2 2026 earnings call on July 30, 2026) End Market Outlook FY 2025 FY 2026 Outlook RV Wholesale Unit Shipments 342K1 285K to 300K RV Retail Unit Shipments 349K2 Down LDD % Marine Wholesale Powerboat Unit Shipments 137K2 Up LSD % Marine Retail Powerboat Unit Sh
Slide 17: End Markets
End Markets %& PATRICK
Slide 18: RV End Market Highlights
Q2 2026 End Market Highlights % Change vs. Q2 2025 RV Revenue & Wholesale Unit Shipments1 Q2 2026 TTM Revenue Post Covid-19 Surge in Demand ($ in millions) $407M | (15%) Revenue $2,593 (2%) $1.7B vs. Q2 2025 TTM $2,404 $1,625 $1,776 $1,671 % of Q2 2026 TTM Net Sales 600K $1,503 39% Of Total Net Sale
Slide 19: A Trusted Partner of Choice Delivering RV Solutions
A Trusted Partner of Choice Delivering RV Solutions Connecting design, engineering, manufacturing, and distribution to better serve customers Hardwood & Softwood Manufacturing Cabinet Doors Exterior/Structural Decorative Panels Roofing & Trusses Interior Doors Paint Trim Aluminum Sidewalls Kitchen &
Slide 20: Marine End Market Highlights
Q2 2026 End Market Highlights % Change vs. Q2 2025 Marine Revenue & Wholesale Unit Shipments1 Q2 2026 TTM Revenue Post Covid-19 Surge in Demand ($ in millions) $191M | +22% $914 Revenue +18% $662M vs. Q2 2025 TTM $665 $783 $571 $606 $662 % of Q2 2026 TTM Net Sales 18% Of Total Net Sales 198K 136K 38
Slide 21: Trusted Solutions Partner for Marine OEMs
Trusted Solutions Partner for Marine OEMs Continued investment in highly engineered products and execution of full solutions model Structural & Component Solutions Audio & Entertainment Fuel Systems & Tanks Audio Systems Windshields Speakers Carbon Fiber Solutions Amplifiers T-Tops & Towers Related
Slide 22: Powersports End Market Highlights
Q2 2026 End Market Highlights % Change vs. Q2 2025 Q2 2026 TTM Revenue Powersports Revenue $123M | +28% Revenue ($ in millions) +26% $433M vs. Q2 2025 TTM +13% % of Q2 2026 TTM Net Sales $433 12% $384 Of Total Net Sales $352 Quarterly Revenue Growth 11% ($ in millions) 4-Yr CAGR: +36% $122 $103 +28%
Slide 23: Highly Engineered Components Powering Off-Road Adventures
Highly Engineered Components Powering Off-Road Adventures Improving attachment rates solidifying Patrick as a key member of the value-chain Roofs & Canopies Protective roof systems designed for comfort, Rear Panels functionality, and accessory integration Engineered for protection, Mirrors fit, and
Slide 24: Housing End Market Highlights
Q2 2026 End Market Highlights % Change vs. Q2 2025 Housing Revenue & MH Wholesale Unit Shipments1 Q2 2026 TTM Revenue Post Covid-19 Surge in Demand ($ in millions) $320M | +2% Revenue $1,272 (2%) $1.2B vs. Q2 2025 TTM $1,008 $1,060 $1,168 $1,184 $1,172 % of Q2 2026 TTM Net Sales 31% Of Total Net Sal
Slide 25: Supporting the Future of Affordable Housing
Supporting the Future of Affordable Housing Large distribution network and wide breadth of products designed for scalable housing Exterior/Structural Roofing Trusses Walls & Framing Plumbing Kitchen & Bath Electrical Faucets & Sinks Lighting & Fixtures Appliances Wiring Plumbing Stone & Solid Surfac
Slide 26: End Market Landscape
End Market Landscape Meaningful retail demand inflection likely depends on consumer confidence and interest rate improvement RV Marine ✓ OEM wholesale production management ✓ Revenue growth continued despite flat supporting continued dealer inventory estimated wholesale shipments, discipline and lea
Slide 27: Non-GAAP Reconciliations
Non-GAAP Reconciliations 27
Slide 28: Use of Non-GAAP Financial Measures
Use of Non-GAAP Financial Measures This presentation contains non-GAAP financial measures. Management believes that, when considered together with reported amounts, these measures are useful to investors and management in understanding our ongoing operations and in the analysis of ongoing operating
Slide 29: Non-GAAP Reconciliations
Non-GAAP Reconciliations Reconciliation of Net Income to EBITDA to Adjusted EBITDA and Adjusted EBITDA Margin Q2 2026 ($ in millions) 2019 2021 2022 2023 2024 2025 Q2 2026 TTM Net income $90 $225 $328 $143 $138 $135 $43 $147 + Depreciation & amortization 63 105 131 145 167 170 43 171 + Interest expe
Slide 30: Non-GAAP Reconciliations
Non-GAAP Reconciliations Reconciliation of Net Income to Adjusted Net Income to Adjusted Diluted Earnings Per Common Share 1 ($ in millions, except per share data) 2010 2011 2012 2013 2014 2015 2016 2017 2018 Net income $1 $9 $28 $24 $31 $42 $56 $86 $120 + Acquisition related transaction costs - - -
Slide 31: Non-GAAP Reconciliations
Non-GAAP Reconciliations Reconciliation of Net Income to Adjusted Net Income to Adjusted Diluted Earnings Per Common Share 1 Q2 Q2 2026 ($ in millions, except per share data) 2019 2020 2021 2022 2023 2024 2025 2026 TTM Net income $90 $97 $225 $328 $143 $138 $135 $43 $147 + Acquisition related transa
Slide 32: Non-GAAP Reconciliations
Non-GAAP Reconciliations Reconciliation of Operating Margin to Adjusted Operating Margin Q2 2026 2019 2021 2022 2023 2024 2025 Q2 2026 TTM Operating margin 6.6% 8.6% 10.2% 7.5% 6.9% 7.0% 7.4% 6.7% Acquisition related fair-value inventory step-up -% -% -% -% 0.1% -% -% 0.1% Acquisition related transa
Slide 33: Non-GAAP Reconciliations
Non-GAAP Reconciliations Liquidity (as of Q2 2026) ($ in millions) Total Revolver Credit Capacity $875.0 Less: Total Revolver Used 213.6 (including outstanding letters of credit) Unused Credit Capacity $661.4 Add: Cash on Hand 29.2 Total Available Liquidity $690.6 Net Leverage (as of Q2 2026) ($ in
Slide 34: Appendix
Appendix w% PATRICK
Slide 35: We are Enthusiasts
We live the We are Enthusiasts Outdoor Enthusiast lifestyle We are passionate about our Brands We are shaping experiences and Andy Nemeth Jeff Rodino Charlie Roeder Jake Petkovich Hugo Gonzalez strengthening Chairman & CEO President President – RV President – Marine President – connections Powerspor
Slide 36: Our Purpose & Culture: BETTER Together
Our Purpose & Culture: BETTER Together Purpose-driven organization and strong culture provide foundation for long-term execution and integration Principles of Effective Leadership BETTER Together Values Communicate With Excellence B BALANCE Lead For Positive Embrace Influence Responsibility E EXCELL
Slide 37: Positioned to Benefit from Favorable Demographics
Positioned to Benefit from Favorable Demographics Target Age Demographic (US 35-44) Continues to Grow1 RV2 Marine • 82.4M Americans camped in 2025 • 49% of boat owners who purchased (second-highest total number on during the pandemic plan to upgrade3 record) • 85M+ Americans go boating each • “…cont
Slide 38: Outdoor Enthusiast
We exist to Empower the Enthusiast in you. Attractive end market categories: Driven by our core competencies: Fiberglass Wood Electrical Metal Paint Aftermarket RV Outdoor Enthusiast Cut & Sew Audio Plastics & Transportation Interior Distribution Adhesives Finishes MARINE Profitable growth engine: 1
Slide 39: End Market Categories
End Market Categories RV Product Categories1 TOWABLE MOTORIZED Shipments: 89% Wholesale | 71% Retail Value Shipments: 11% Wholesale | 29% Retail Value Travel Trailer | ASP: $37,100 Fifth Wheel | ASP: $84,700 Class A | ASP: $261,100 Class B & C | ASP: $144,500 Marine Product Categories2 PONTOON SKI &
Slide 40: ~ @ PATRICK fu
~ @ PATRICK fu
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