Patrick Industries has reported a 22% increase in its Marine segment revenue in the second quarter of 2026.
The Marine segment accounted for 18% of the company’s overall revenue and stood at $191 million compared to flat estimated wholesale powerboat industry unit shipments.
The organisation’s overall net sales were $1.04 billion compared to $1.05 billion in the prior-year period which also included revenue growth of 28% in Powersports, and 2% in Housing, with a 15% decline in RV end market revenue.
Operating income was $77 million and operating margin was 7.4% compared to operating income of $87 million and operating margin of 8.3% in the prior-year period.
Net income increased 34% to $43 million and adjusted EBITDA was $126 million, compared to adjusted EBITDA of $135 million in the prior-year period.
New product development
“As our OEM customers continue to focus on affordability, efficiency, labour productivity, product differentiation and managing retail demand patterns, we are bringing forward solutions in partnership that are practical, scalable, and aligned with the needs of today’s market,” said Patrick president Jeff Rodino.
“Whether through new product development, component and composite solutions, electrical systems, aftermarket capabilities, advanced manufacturing, value engineering, or The Experience, our teams are working directly with customers to help solve the challenges that matter most to their businesses.”
The company expects to see continued macroeconomic uncertainty across end markets, said Andy Nemeth, chief executive officer,
“We are not relying on a near-term market rebound and are focused on the actions within our control,” he said.
Marketplace
“[We’re] staying close to our customers, delivering cost-effective product solutions, aligning our cost structure appropriately, advancing high-value growth initiatives, actioning M&A opportunities within our key markets and in alignment with our strategic plan, and continuing to strengthen the capabilities that differentiate Patrick in the marketplace.”
He concluded: “This focused mindset allows us to manage through near-term uncertainty while building a stronger, more agile platform for the future.”
Patrick and LCI Industries have previously announced an all-stock merger with Patrick shareholders to own approximately 52% of the combined company and LCI shareholders approximately 48% following completion of the transaction.
The combined company is set to provide enhanced financial performance and reduced costs, with new solutions and an enhanced array of products.
