Patrick Industries, Inc. · NASDAQ:PATK
Patrick Industries — Q1 2022 Earnings Presentation
10 slides from Patrick Industries's earnings presentation, Apr 28, 2022
Slide 1: Q1 2022 Earnings Presentation
Q1 2022 Earnings Presentation Q1 2022 Earnings Presentation April 28, 2022
Slide 2: Forward Looking Statements
Q1 2022 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: Q1 2022 Quarterly Highlights
Q1 2022 Earnings Presentation Q1 2022 Quarterly Highlights Strong Execution as Revenue Trends Continue 3 Growth in Total Revenue of +58% Y/Y • RV / Marine driven by outdoor recreation trends, strong execution of nimble platform • RV channel better balanced, while marine and MH channels continue to b
Slide 4: Performance by Market Sectors
Q1 2022 Earnings Presentation Performance by Market Sectors 4 RV Marine MH Industrial 61% of Q1’22 Sales 16% of Q1’22 Sales 13% of Q1’22 Sales 10% of Q1’22 Sales +64% +62% +44% +39% Revenue of $820.6 MM Revenue of $221.0 MM Revenue of $173.6 MM Revenue of $127.0 MM CPU1 of $4,370 +33% CPU1 of $4,113
Slide 5: Market Sector Trends
Q1 2022 Earnings Presentation Market Sector Trends 5 Industry Trends • Return to more seasonal restocking in anticipation of spring and summer selling seasons • Incredible demand and commodities cost have continued to increase • New buyer traffic and activity remain strong • Dealer inventories at lo
Slide 6: Financial Performance
Q1 2022 Earnings Presentation Q1 2022 Financial Performance 6 $68 $162 Q1 2021 Q1 2022 $850 $1,342 Q1 2021 Q1 2022 NET SALES OPERATING INCOME & MARGIN 8.1% 12.1% 58% increase in Net Sales driven by increased demand in each of our four end markets along with the continued demand surge in RV Gross
Slide 7: Balance Sheet, Cash Flow and Liquidity
Q1 2022 Earnings Presentation Balance Sheet, Cash Flow and Liquidity 1 As of 3/27/22; 2 As defined by credit agreement Strong Balance Sheet to Support Investments and Pursue Attractive Growth Opportunities 7 DEBT STRUCTURE AND MATURITIES1 • $150M Term Loan ($144M o/s), pre-determined quarterly insta
Slide 8: Appendix
Q1 2022 Earnings Presentation Appendix 8
Slide 9: Non-GAAP Reconciliation
Q1 2022 Earnings Presentation Non-GAAP Reconciliation 9 RECONCILIATION OF NET INCOME TO EBITDA TO LTM ADJUSTED EBITDA ($ in millions) LTM 3/27/2022 Net Income $ 290.1 + Depreciation & Amortization 112.4 + Interest Expense, net 61.6 + Income Taxes 93.3 EBITDA $ 557.4 + Stock Compensation Expense 23.7
Slide 10: www.patrickind.com
Q1 2022 Earnings Presentation www.patrickind.com