Patrick Industries Posts $21 Million Third-Quarter Profit
The Elkhart-based component maker reported flat sales as powersports and marine gains offset an RV slowdown ahead of a November shareholder vote on its LCI merger.
Updated on Nov. 10, 2026 in Public Companies
Patrick Industries reported third-quarter net income of $21 million for the period ended September 27. Sales were $975 million, essentially flat against $976 million a year earlier.
Why it matters
The results show uneven demand across the company's Outdoor Enthusiast and Housing markets, with powersports and marine growing while recreational vehicle revenue declined. The figures also frame the all-stock merger with LCI Industries that shareholders will consider.
Third-quarter sales of $975 million were nearly unchanged from $976 million a year earlier, with powersports revenue up 30% and marine up 14% offsetting a 15% drop in RV segment revenue. The report does not detail how these trends will affect results in coming quarters.
The players
Patrick Industries
Patrick Industries is a manufacturer and supplier of components for recreational vehicle, marine, powersports and housing markets, headquartered in Elkhart, Indiana.
LCI Industries
LCI Industries is a major supplier of components for recreational vehicles and related markets and is the counterparty in Patrick's all-stock merger.
The details
Patrick Industries, a component provider for the Outdoor Enthusiast and Housing markets, reported net income of $21 million for its third quarter. The company also agreed in June to an all-stock merger with LCI Industries after earlier merger talks were terminated because the companies could not agree on certain key terms.
Timeline
June 2026: Patrick and LCI announced their all-stock merger agreement.
September 27, 2026: Patrick's third quarter ended with $21 million in net income.
November 18, 2026: Patrick will hold a special shareholder meeting to vote on the merger.
Market Landscape
Elkhart County is a center of recreational vehicle component manufacturing, and Patrick's uneven segment results show suppliers shifting toward powersports and marine as RV demand softens. The proposed LCI merger would consolidate two major players in that regional supply base.
Shareholders of Patrick Industries will decide on the LCI merger at the November 18 meeting, which could affect the stock they hold. Consumers buying RVs, boats or powersports vehicles may see the segment trends reflected in dealer inventory and pricing.
The takeaway
Diverging demand across recreational categories is a reminder that a single segment's slowdown can be offset by gains elsewhere in a diversified supplier's portfolio. Watching segment-level results gives a clearer picture than headline sales alone.
What happens next
Patrick Industries shareholders will vote on the all-stock merger with LCI Industries at a special meeting on November 18.
Further reading
For more on corporate earnings and deals from the region, explore Public Companies coverage.
Source note: This article includes information reported by Woodworking Network.
