Elkhart, Indiana-based Patrick Industries (NASDAQ:PATK), a leading manufacturer of components and materials for the recreational vehicle, manufactured housing, and industrial markets, reported financial results for the fourth quarter and full year ended December 31, 2025.
Fourth-quarter net sales increased 9% year-over-year to $924 million.
Operating income rose 45% to $57 million, representing a 6.2% margin.
For the full year, net sales grew 6% to $4 billion, with operating income of $276 million (7% margin).
Adjusted EBITDA for 2025 totaled $468 million.
Free cash flow was $246 million for the year, with total net liquidity at $818 million and net leverage at 2.6x.
The company also completed multiple acquisitions in 2025, deploying $122 million for business purchases to expand its product offerings and market reach.
Following the quarter's performance, the company's board declared a quarterly cash dividend of $0.47 per share, payable March 9, 2026, to shareholders of record on the applicable date.