Components and accessories manufacturer Patrick Industries announced its fourth-quarter financial results.
Net sales increased 9% year-over-year to $924 million for the quarter, and 6% to $4 billion for the full year. The company reported free cash flow of $246 million for the year.
Patrick’s marine segment revenue was up 24% from the previous-year quarter to $150 million, driven largely by a successful model-year changeover season. The revenue represented 16% of company net sales for the fourth quarter.
“Our resilient fourth-quarter results were driven by our team’s continued execution on both organic and strategic growth initiatives, as well as our disciplined operating execution and customer-first focus,” CEO Andy Nemeth said in a statement. “We continued to gain new business and expand content while advancing our full-solutions model and aftermarket platform through strategic acquisitions and ongoing investment in innovation and automation. Our strong balance sheet and consistent cash-flow generation enabled us to reinvest in the business, pursue accretive acquisitions and return capital to shareholders.”
The company is forecasting around 140,000 wholesale powerboat units in 2026, up low single digits from 2025. It also expects an adjusted operating margin increase to 70 to 90 basis points for the year and cash flow of $380 million to $400 million.
