Patrick Industries, Inc. filed a Form 425 on October 30, 2026, containing the transcript of its third quarter 2026 earnings conference call held on October 29, 2026, during which management discussed quarterly financial results and the pending merger with LCI Industries.

Key Highlights

  • Consolidated net sales: The company reported approximately $975 million in consolidated net sales for the third quarter 2026, described as essentially flat year-over-year, according to the filing.
  • Adjusted EBITDA margin: The company disclosed adjusted EBITDA margin growth of 40 basis points to 11.9% in the quarter.
  • Adjusted EPS: Adjusted earnings per diluted share were reported at $1.03 for the third quarter.
  • RV industry pressure: The company attributed revenue headwinds to a 13% decline in the RV industry's wholesale shipments in the quarter, with RV retail shipments down 56 of the last 60 months.
  • LCI merger S-4 effective: The Form S-4 registration statement related to the proposed merger with LCI Industries was declared effective by the SEC on October 19, 2026, and special shareholder meetings are each scheduled for November 18, 2026.
  • Outside cash offer for LCI: The company disclosed that a cash offer for all outstanding LCI stock was made by an outside party, which LCI's board was evaluating in alignment with its fiduciary duties.
  • Patrick 2.0 initiative: Management disclosed a new strategic initiative called "Patrick 2.0," with certain non-recurring restructuring charges expected in the fourth quarter.

Patrick Industries Reports Q3 2026 Results Amid LCI Merger Developments

Patrick Industries, listed on NASDAQ:PATK, filed a Form 425 on October 30, 2026, containing the full transcript of its third quarter 2026 earnings conference call. The call featured CEO Andy Nemeth, President Jeff Rodino, CFO Matt Filer, and Vice President of Investor Relations Steve O'Hara, along with questions from analysts at Roth/MKM Partners, CJS Securities, Raymond James, BMO Capital Markets, KeyBanc Capital Markets, and Robert W. Baird.

According to the filing, consolidated net sales for the quarter were approximately $975 million, essentially flat year-over-year. The company reported that growth in Marine, Powersports, and Housing revenue "nearly offset the pressure on the RV revenue caused by a 13% decline in the industry's wholesale shipments in the quarter." Adjusted EBITDA margin improved 40 basis points to 11.9%, and adjusted earnings per diluted share came in at $1.03. Management noted that consumer confidence fell to its lowest level since 2014 in September and cited "high interest rates and fuel costs, persistent inflation, and the two concurrent wars happening in Iran and Ukraine" as factors weighing on consumers.

On the merger front, the filing disclosed that the Form S-4 registration statement was declared effective by the SEC on October 19, 2026, and the definitive proxy statement/prospectus had been mailed to shareholders of record for both companies. Special meetings for Patrick shareholders and LCI stockholders are each scheduled for November 18, 2026. The company also noted that an outside party had made a cash offer for all outstanding LCI stock, and that LCI's board was evaluating it. Management stated that Patrick "remain[s] highly confident in both Patrick's stand-alone strategy" and in the value of a potential combination with LCI. The filing also introduced "Patrick 2.0," a strategic operational initiative expected to generate non-recurring restructuring charges in the fourth quarter while targeting procurement synergies, automation, and certain facility consolidations.

What Was Disclosed

Patrick Industries filed a Form 425 containing its Q3 2026 earnings call transcript, disclosing approximately $975 million in net sales, adjusted EBITDA margin of 11.9%, adjusted EPS of $1.03, an effective S-4 for the LCI merger, an outside cash bid for LCI, and a new "Patrick 2.0" restructuring initiative.