On the morning of the company’s investor day in New York City earlier this week, Patrick Industries CEO Andy Nemeth rang the Nasdaq opening bell to start Tuesday’s trading session.
“It was incredible to see how far Patrick Industries has come as a leader in component solutions for the RV, marine, powersports and housing markets,” vice president of marketing Anna Parker said in a statement. “The event not only highlighted the strength of our business strategy and the depth of our team’s expertise, but it also underscored the enthusiasm and commitment of our partners and investors to Patrick’s growth story.”
Key points from the company’s investor presentation were:
• Tenfold revenue growth: Patrick’s revenue has grown from $278 million in 2010 to $3.7 billion in 2024 TTM, a 21% compound annual growth rate.
• Strategic diversification: The company has diversified into four key markets — RV, marine, powersports and housing — shifting the revenue mix and significantly expanding its presence in these segments.
• Acquisition-led expansion: Since 2010, Patrick has completed acquisitions representing $2.8 billion in revenue.
• Aftermarket growth potential: The RecPro platform is poised for substantial growth, with expectations to double its revenues within three to five years.
