Patrick Industries, Inc. filed its Form 10-Q for the quarterly period ended September 27, 2026 with the U.S. Securities and Exchange Commission on November 5, 2026, reporting third-quarter and year-to-date financial results for the Indiana-based manufacturer.

Key Highlights

  • Q3 net sales: $975,277 thousand for the three months ended September 27, 2026, compared with $975,631 thousand in the same period of 2025, according to the filing.
  • Q3 net income: $21,056 thousand, down from $35,303 thousand in the third quarter of 2025, as reported in the condensed consolidated statements of income.
  • Diluted EPS: $0.64 per share for Q3 2026, versus $1.01 per share in Q3 2025; nine-month diluted EPS was $3.04 versus $3.08 in the prior-year period.
  • Nine-month net sales: $3,014,153 thousand through September 27, 2026, compared with $3,026,605 thousand for the nine months ended September 28, 2025.
  • Stock repurchases: The company disclosed $106,133 thousand in stock repurchases under its buyback program for the nine months ended September 27, 2026, versus $31,969 thousand in the comparable 2025 period.
  • Shares outstanding: 32,118,264 shares of common stock as of October 30, 2026, down from 33,224,772 shares as of December 31, 2025.
  • Total assets: $3,199,954 thousand as of September 27, 2026, compared with $3,076,174 thousand at December 31, 2025.

Patrick Industries Reports Q3 2026 Financial Results Amid Lower Operating Income

Patrick Industries (NASDAQ:PATK), headquartered in Elkhart, Indiana, reported third-quarter 2026 net sales of $975,277 thousand, essentially flat compared with $975,631 thousand in the third quarter of 2025, according to the filing. Gross profit improved to $229,894 thousand from $220,964 thousand in the prior-year quarter, while total operating expenses rose to $180,059 thousand from $154,671 thousand, driven in part by selling, general and administrative costs of $107,900 thousand versus $86,022 thousand a year earlier. As a result, operating income declined to $49,835 thousand from $66,293 thousand in Q3 2025.

For the nine months ended September 27, 2026, the company reported net income of $103,957 thousand on net sales of $3,014,153 thousand. Net cash provided by operating activities was $146,551 thousand for the nine-month period, compared with $198,571 thousand in the comparable 2025 period. Long-term debt, less current maturities, net, stood at $1,372,564 thousand as of September 27, 2026, up from $1,282,821 thousand at December 31, 2025. Business acquisitions, net of cash acquired, totaled $23,123 thousand through the nine months of 2026, versus $70,322 thousand in the same period of 2025.

Cash dividends paid to shareholders reached $46,066 thousand for the nine months ended September 27, 2026, compared with $39,974 thousand in the prior-year period. The company's total shareholders' equity was $1,142,881 thousand as of September 27, 2026, down from $1,184,297 thousand at December 31, 2025. As of the balance sheet date, goodwill was $838,588 thousand and intangible assets, net, were $691,417 thousand. The filing notes the company is classified as a large accelerated filer.

What Was Disclosed

Patrick Industries filed its quarterly report covering the three and nine months ended September 27, 2026, disclosing income statements, balance sheets, cash flow statements, and shareholders' equity data, with 32,118,264 shares outstanding as of October 30, 2026.