Patrick Industries, Inc. · NASDAQ:PATK
Patrick Industries — Q4 2020 Earnings Presentation
11 slides from Patrick Industries's earnings presentation, Feb 11, 2021
Slide 1: 4Q 2020 Earnings Presentation
4Q 2020 EARNINGS PRESENTATION February 11, 2021
Slide 2: Forward-Looking Statements
4Q 2020 Earnings Presentation FORWARD-LOOKING STATEMENTS This presentation contains certain statements related to future results, our intentions, beliefs and expectations or predictions for the future which are forward-looking statements as that term is defined in the Private Securities Litigation R
Slide 3: Patrick Industries at a Glance
4Q 2020 Earnings Presentation Manufacture and Distribute Quality Products that Exceed Customer Expectations PATRICK INDUSTRIES AT A GLANCE (NASDAQ: PATK) KEY FACTS Headquartered Elkhart, Indiana Market-cap1 $1.8B Acquisitions Since 2010 53 Current States Presence 23 Employees ~8,700 2020 RESULTS Rev
Slide 4: 4Q 2020 Quarterly Highlights
4Q 2020 Earnings Presentation Strong Execution as Revenue Trends Continue 4Q 2020 - QUARTERLY HIGHLIGHTS 1 Substantial Growth in Q4 Revenue, with Total Revenue +41% Y/Y • RV / marine driven by outdoor recreation trends, accelerated by pandemic and need for channel inventory replenishment • Industria
Slide 5: 4Q 2020 Financial Performance
4Q 2020 Earnings Presentation 4Q QUARTER 2020 FINANCIAL PERFORMANCE Continuation of outdoor recreation and housing demand trends, driven in part by COVID-related demand Revenues from leisure lifestyle market (RV & Marine) increased 51%, with RV up 52% and marine up 48% Revenues from housing &
Slide 6: Performance by Market Sectors
4Q 2020 Earnings Presentation RV 58% of sales in Q4 2020 Content per Unit – increased 2% to $3,235 MARINE INDUSTRIAL PERFORMANCE BY MARKET SECTORS MH 14% of sales in Q4 2020 Content per Unit – increased 24% to an estimated $2,098 Content growth driven by acquisitions, market share gains an
Slide 7: Market Sector Trends
4Q 2020 Earnings Presentation MARKET SECTOR TRENDS RV MARINE MH INDUSTRIAL Wholesale Shipments Q4: +35% ‘20FY: +6% Q4 (est.): +7% ‘20FY (est.): -14–15% Q4: +2% ‘20FY: Flat Q4: +12% ‘20FY: +7% Retail Shipments1 Q4 (est.): +33%–39% ‘20FY (est.): +11-14% Q4 (est.): +33%–37% ‘20F
Slide 8: Balance Sheet, Cash Flow and Liquidity
4Q 2020 Earnings Presentation BALANCE SHEET, CASH FLOW AND LIQUIDITY The Strength of Cash Flows, Combined with Liquidity, Allow Us to Invest in Our Existing Business as well as Pursue Attractive Acquisition Opportunities 1 As defined by credit agreement NET LEVERAGE1 ($ millions) Total Debt Outstand
Slide 9: Compelling Investment Thesis
4Q 2020 Earnings Presentation LIQUIDITY Strong balance sheet with no near- term debt maturities, ample liquidity and an enhanced capital structure STRATEGIC Disciplined cost management balanced with strategic growth investment opportunities LEADERSHIP Deep industry experience and proven track record
Slide 10: Appendix
4Q 2020 Earnings Presentation Appendix
Slide 11: Non-GAAP Reconciliations
4Q 2020 Earnings Presentation NON-GAAP RECONCILIATIONS Use of Non-GAAP Financial Information Earnings before interest, taxes, depreciation and amortization (“EBITDA”), Adjusted EBITDA, and Net Debt to Adjusted EBITDA are non-GAAP financial measures. In addition to reporting financial results in acco