Indiana-based Patrick Industries, supplier to the marine, RV and housing industries, reported first quarter financial results yesterday. Net sales were $997 million compared with $1.03 billion in the same quarter a year earlier. Operating income was $65 million compared to $66 million, and net income increased 3% to $39 million.
Marine revenue growth of 14% and powersports revenue growth of 28% were offset by lower revenue in the company’s RV and housing segments, primarily reflecting lower wholesale unit shipments.
“Content gains were strong as a result of our team’s tremendous focus on innovation and product solutions, and helped to offset shipment declines in our RV, marine and manufactured housing markets,” CEO Andy Nemeth said in a statement. “The demand environment in the first quarter was influenced by macroeconomic and geopolitical headwinds and dealer ordering discipline.”
The marine segment, which makes up 17% of total revenue, posted revenue of $170 million, while estimated wholesale powerboat unit shipments decreased 7%. Estimated content per wholesale powerboat unit (on a trailing 12-month basis) increased 17% to $4,657 when compared with the prior year period and increased 6% when compared with the fourth quarter of 2025.
“On the marine side, the growth in content per unit reflects our strong performance in the last model-year changeover and the impact of recent marine-related acquisitions,” said Patrick president Jeff Rodino.
“As we continue to navigate the dynamic demand environment in 2026, our team remains focused, and our strategic direction is clear,” added Nemeth.
