Patrick Industries, Inc. · NASDAQ:PATK

Patrick Industries — Q1 2021 Earnings Presentation

11 slides from Patrick Industries's earnings presentation, Apr 29, 2021

  1. Slide 1: 1st Quarter 2021 Earnings Presentation

    1ST QUARTER 2021 EARNINGS PRESENTATION Q1 2021 Earnings Presentation 1ST QUARTER 2021 EARNINGS PRESENTATION April 29, 2021

  2. Slide 2: Forward-Looking Statements

    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 Reform Act of 1995. These forwa

  3. Slide 3: Patrick Industries at a Glance

    Experienced management team with an average of 20+ years of industry experience Leading market position in major product categories Deep customer relationships with 30+ years for top customers, including key design partners Strong Free Cash Flow (FCF) generation & FCF conversion Favorable demographi

  4. Slide 4: Q1 2021 Quarterly Highlights

    Q1 2021 - QUARTERLY HIGHLIGHTS STRONG EXECUTION AS REVENUE TRENDS CONTINUE 1 Growth in Total Revenue of +44% Y/Y • RV / marine driven by outdoor recreation trends, very lean dealer inventory and need for channel inventory replenishment • Industrial and MH driven by housing demand, low interest rates

  5. Slide 5: Net Sales, Operating Income, Diluted EPS, Cash Flow from Operations

    NET SALES OPERATING INCOME & MARGIN DILUTED EPS CASH FLOW FROM OPERATIONS +44% +74% +124% 281%  Continuation of outdoor recreation and housing demand trends, bolstered in part by COVID-related demand  Revenues from leisure lifestyle market (RV & Marine) increased 60%, with RV up 57% and marine up

  6. Slide 6: Performance by Market Sectors

    ($ millions ) RV  59% of sales in Q1 2021  Content per Unit – increased 6% to $3,288 MARINE INDUSTRIAL PERFORMANCE BY MARKET SECTORS Leisure Lifestyle1 Housing and Industrial1 MH  16% of sales in Q1 2021  Content per Unit – increased 44% to an estimated $2,426  Content growth driven by acquisit

  7. Slide 7: Wholesale and Retail Shipments and Industry Trends

    RV MARINE MH INDUSTRIAL Wholesale Shipments  Q1: +48%  Q1 (est.): +14%  Q1: -2%  Q1: +10%2 Retail Shipments1  Q1 (est.): +30% – 35%  Q1 (est.): +30%– 35%  Q1 (est.): -5 – 10% - Industry Trends  New buyer traffic remains strong  Dealer inventories at lowest level seen in years  Increasing O

  8. Slide 8: Balance Sheet, Cash Flow and Liquidity

    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 Outstanding $813.0 Less: Cash on Hand1

  9. Slide 9: Compelling Investment Thesis

    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 of successfully navigating eco

  10. Slide 10: Appendix

    Appendix 10Q1 2021 Earnings Presentation

  11. Slide 11: Non-GAAP Reconciliations

    NON-GAAP RECONCILIATIONS Use of Non-GAAP Financial Information * As defined by credit agreement which includes debt and cash balances two days following quarter end Earnings before interest, taxes, depreciation and amortization (“EBITDA”), Adjusted EBITDA, and Net Debt to Adjusted EBITDA are non-GAA

Patrick Industries — Q1 2021 Earnings Presentation on 6ix