Patrick Industries, Inc. · NASDAQ:PATK
Patrick Industries — Q2 2021 Earnings Presentation
12 slides from Patrick Industries's earnings presentation, Jul 29, 2021
Slide 1: 2Q 2021 Earnings Presentation
SS we a WS and a 2021 Earnings Presentation
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
Slide 3: Patrick Industries at a Glance
Experienced management team with an average of 25+ 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
Slide 4: Q2 2021 - Quarterly Highlights
Q2 2021 - QUARTERLY HIGHLIGHTS 1 Growth in Total Revenue of +141% Y/Y • RV / marine driven by outdoor recreation trends, strong execution of nimble platform against very lean dealer inventory and need for channel inventory replenishment • Industrial and MH driven by housing demand, low interest rate
Slide 5: Net Sales, Operating Income & Margin, Diluted EPS, Cash Flow from Operations
NET SALES OPERATING INCOME & MARGIN DILUTED EPS CASH FLOW FROM OPERATIONS Strong Leisure Lifestyle and housing demand trends continue; Q2 2020 reflects COVID-19 shutdowns Revenues from Leisure Lifestyle market (RV & Marine) increased 190%, with RV up 192% and marine up 182% Revenues from Housi
Slide 6: Performance by Market Sectors
($ millions ) RV Content per Unit – increased 15% to $3,543 MARINE INDUSTRIAL PERFORMANCE BY MARKET SECTORS Leisure Lifestyle1 Housing and Industrial1 MH Content per Unit – increased 60% to an estimated $2,841 Content growth driven by market share gains, aftermarket growth and acquisitions C
Slide 7: Industry Trends: RV, Marine, MH, Industrial Shipments
RV MARINE MH INDUSTRIAL Wholesale Shipments Q2: +101% Q2 (est.): +26% Q2: +30% Q2: +43%2 Retail Shipments1 Q2 (est.): +30% – 35% Q2 (est.): Flat Q2 (est.): +6-9% - Industry Trends New buyer traffic and activity remains strong Dealer inventories at lowest level seen in years with re
Slide 8: Balance Sheet, Cash Flow and Liquidity
BALANCE SHEET, CASH FLOW AND LIQUIDITY 1 As defined by credit agreement NET LEVERAGE1 ($ millions) Total Debt Outstanding $1,107.5 Less: Cash on Hand1 (91.5) Net Debt $1,016.0 LTM Adj. EBITDA $450.6 Net Debt to Adj. EBITDA 2.3x LIQUIDITY ($ millions) Total Revolver Credit Capacity $550.0 Less: Total
Slide 9: Compelling Investment Thesis Creating Long-Term Shareholder Value
LIQUIDITY Strong balance sheet with no near-term debt maturities, ample liquidity and an enhanced capital structure STRATEGIC Strong acquisition history and credibility with significant runway and pipeline opportunities LEADERSHIP Deep industry experience and proven track record of successfully navi
Slide 10: Appendix
Appendix
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-GA
Slide 12: Patrick Industries contact
ow PATRICK fi https://www.facebook.com/Patrickindustries/ https://www.instagram.com/patrickindustries/?hl=en in| Patrick Industries, Inc. PATRICKIND.COM