Patrick industries, inc. reports third quarter 2022 financial results

Third quarter 2022 highlights (compared to third quarter 2021 unless otherwise noted) net sales of $1.11 billion increased 5%, reflecting growth in our marine and housing markets, partially offset by a 40% reduction in rv oem shipments gross profit of $236 million increased 14% gross margin of 21.3% increased 170 basis points operating income of $93 million operating margin of 8.3% decreased 50 basis points net income of $59 million increased 2% diluted earnings per share of $2.43 includes a reduction for the impact of the accounting treatment for convertible notes of $0.20 per share operating cash flows of $156 million increased 126% returned $14 million to shareholders in the quarter, including $7 million through common stock purchases elkhart, ind. , oct. 27, 2022 /prnewswire/ --patrick industries, inc. (nasdaq: patk), a leading component solutions provider for the leisure lifestyle and housing markets today reported financial results for the third quarter ended september 25, 2022.
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