Patrick Industries, Inc. reported strong demand has not yet slowed through the third quarter of 2021.
The supplier reported profits rose 54% in the third quarter from the same period in 2020 while sales rose 51% from the third quarter of 2020. Patrick’s content per wholesale RV rose 19% from 2020 to $3,735.
“Market conditions across our platform continue to reflect strong trends and expectations while providing good visibility into 2022,” said Andy Nemeth, Patrick CEO. “Retail demand for leisure lifestyle products remains high and has resulted in decreasing dealer inventories and increasing OEM backlogs despite record industry production levels.”
Jeff Rodino, Patrick president, said the company’s recent acquisitions of Coyote Manufacturing and Tumacs Covers expanded the marine portfolio.
“Additionally, our focus on human capital is translating into investments in our people and the tools they need to create solutions and innovations for our customers,” Rodino said, “while at the same time we continue to invest in cultural initiatives that support the ongoing development of our team members.”
