Patrick Industries Posts $975M Third-Quarter Sales
Powersports revenue climbed 30% even as RV revenue fell 15% during the quarter.
Updated on Nov. 5, 2026 in Economic Indicators
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Patrick Industries reported third-quarter 2026 net sales of $975 million, roughly flat with $976 million a year earlier. Operating income fell to $50 million from $66 million, and net income reached $21 million, or 64 cents per diluted share.
Why it matters
Weakness in the recreational vehicle segment, where industry wholesale shipments declined 13%, offset gains elsewhere in the company's portfolio. For Elkhart, where Patrick Industries is headquartered, the company's results reflect the health of the region's RV and manufactured-products supply base.
Patrick Industries' third-quarter 2026 net sales were $975 million, compared with $976 million a year earlier, and operating income fell to $50 million from $66 million. The filing does not address how the company expects RV demand to change in coming quarters.
The players
Patrick Industries
Patrick Industries is an Elkhart-based manufacturer and distributor of components and building products for the recreational vehicle, marine, powersports and housing markets.
LCI Industries
LCI Industries is a manufacturer of components for recreational vehicles and related markets, and is the counterparty to Patrick's pending merger.
The details
Powersports revenue rose 30% to $128 million, driven by demand for utility-focused vehicles, higher attachment rates for Sportech cab enclosures and stronger sales of premium audio features. RV revenue fell 15% to $362 million, marine revenue rose 14% to $171 million and the housing business grew 4% to $314 million. Patrick also launched Patrick Printing Solutions, a direct-to-panel printing platform, during the quarter.
Timeline
June 30, 2026: Patrick and LCI Industries signed a definitive merger agreement.
Sept. 27, 2026: The third quarter of 2026 ended.
Oct. 19, 2026: The SEC declared Patrick's Form S-4 registration statement effective.
Nov. 18, 2026: A special shareholder meeting is scheduled to vote on the merger.
Market Dynamics
Patrick's 15% fall in RV revenue closely tracked the 13% decline in industry wholesale RV shipments during the same quarter. The divergence between a shrinking RV segment and a fast-growing powersports line shows how the company's mix is shifting across recreational end markets.
Shoppers considering an RV or boat purchase may see continued softness in the RV segment as manufacturers adjust production to weaker demand. The merger timeline also means the supplier landscape behind many recreational products could change within months.
The takeaway
Patrick's mixed quarter shows that a sharp drop in one recreational segment can be partly cushioned by growth elsewhere in the portfolio. Readers tracking RV or marine prices should watch how the pending LCI merger reshapes supplier pricing and production in the months ahead.
What happens next
Patrick and LCI Industries shareholders are scheduled to vote on the merger at a special meeting on Nov. 18, 2026.
Further reading
For broader context on regional manufacturing, explore Economic Indicators coverage for Elkhart.
Source note: This article includes information reported by Powersports Business.
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