Components and accessories manufacturer Patrick Industries recently released the financial results of its third quarter.
According to a statement, net sales increased 6% to $976 million, operating income was $66 million, EBITDA was $112 million, and free cash flow added up to $134 million.
Total revenue for the marine group was $150 million, an 11% increase from the prior-year quarter and representing 15% of overall net sales. The increase came despite flat wholesale powerboat industry unit sales.
“Our team’s continued focus on customer service and partnership, innovation and new product development over the past 18 months resulted in market share gains across our portfolio,” CEO Andy Nemeth said in the statement. “Our OEM partners are looking for creative, differentiated product offerings while continuing to demonstrate production discipline with lean channel inventories. Several new innovations and concepts introduced by our Advanced Product Group are starting to take hold as we look to further gain traction as an industry leader in full component solutions.”
The company did not provide guidance on the fourth quarter or fiscal 2026.
