Slide 1: Q4 2022 Earnings Presentation
Q4 2022 Earnings Presentation 1 Q4 2022 EARNINGS PRESENTATION February 9, 2023
Slide 2: Forward Looking Statements
Q4 2022 Earnings Presentation 2 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
Slide 3: Q4 2022 Quarterly Highlights
Q4 2022 Earnings Presentation 3 Q4 2022 QUARTERLY HIGHLIGHTS Solid Performance Driven by Diversified Portfolio and Execution by Patrick Team Members Revenue Down 17% Y/Y on RV OEM Production Reduction • Marine & Housing revenue growth reduced impact of 47% decline in RV wholesale unit shipments • RV
Slide 4: Performance by Market Sectors
Q4 2022 Earnings Presentation 4 PERFORMANCE BY MARKET SECTORS RV Marine MH Industrial 43% of Q4’22 Sales 27% of Q4’22 Sales 16% of Q4’22 Sales 14% of Q4’22 Sales (39%) +35% +3% Revenue of $411M Revenue of $255M Revenue of $155M Revenue of $130M CPU1 of $5,257 +31% CPU1 of $5,281 +45% CPU1 of $6,243
Slide 5: Market Sector Trends
Q4 2022 Earnings Presentation 5 RV1 MARINE1 MARKET SECTOR TRENDS Industry Trends • OEMs acting with discipline, reducing production schedules to manage dealer inventories • Despite near-term challenges, RV industry should benefit from favorable demographic trends • Additional government resources al
Slide 6: Q4 2022 Financial Performance
Q4 2022 Earnings Presentation 6 NET SALES & GROSS MARGIN OPERATING INCOME & MARGIN $2.62 $1.82 Q4 2021 Q4 2022 $2.62 $1.68 Q4 2021 Q4 2022 Q4 2022 FINANCIAL PERFORMANCE $95 $68 Q4 2021 Q4 2022 $1,147 $952 Q4 2021 Q4 2022 8.3% 7.1% Net Sales declined 17% as revenue growth in our Marine and MH end m
Slide 7: Balance Sheet and Liquidity
Q4 2022 Earnings Presentation 7 BALANCE SHEET AND LIQUIDITY 1 As of 12/31/22; 2 As defined by credit agreement; 3 In February 2023, the Company utilized available borrowing capacity under the Revolver due 2027 and cash on hand to satisfy its repayment obligation for the 1.00% Convertible Notes due 2
Slide 8: Appendix
Q4 2022 Earnings Presentation 8 APPENDIX
Slide 9: Non-GAAP Reconciliation
Q4 2022 Earnings Presentation 9 NON-GAAP RECONCILIATION RECONCILIATION OF NET INCOME TO EBITDA TO LTM PRO-FORMA ADJUSTED EBITDA ($ in millions) 12/31/2022 Net Income $ 328.2 + Depreciation & Amortization 130.7 + Interest Expense, net 60.8 + Income Taxes 107.2 EBITDA $ 626.9 + Stock Compensation Expe
Slide 10: www.patrickind.com
Q4 2022 Earnings Presentation 10 www.patrickind.com