Patrick industries, inc. reports second quarter 2022 financial results

Second quarter 2022 highlights (compared to second quarter 2021 unless otherwise noted) net sales of $1.5 billion increased 45%, reflecting contributions from all end markets and from 2021 and 2022 acquisitions gross profit of $327 million increased 60% gross margin of 22.2% increased 220 basis points operating income of $174 million increased 83% operating margin of 11.8% increased 250 basis points net income of $117 million increased 98% diluted earnings per share of $4.79 increased 90%, and includes a reduction for the impact of the accounting treatment for convertible notes and purchase accounting inventory step-up adjustments totaling $0.52 per share operating cash flows of $97 million increased 242% acquired diamondback towers elkhart, ind., july 28, 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 second quarter ended june 26, 2022.
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