In the Q2, Patrick Industries Inc 's corporate clients experienced a reduction by -8.02 % in their costs of revenue, compared to a year ago, sequentially costs of revenue were trimmed by -10.01 %. During the corresponding time, Patrick Industries Inc saw a revenue deteriorated by -0.47 % year on year, sequentially revenue grew by 4.5 %. While revenue at the Patrick Industries Inc 's corporate clients recorded rose by 8.24 % year on year, sequentially revenue grew by 6.97 %.
Customers of Patrick Industries Inc saw their costs of revenue decrease by -8.02 % in Q2 compare to a year ago, sequentially costs of revenue were trimmed by -10.01 %, for the same period Patrick Industries Inc revnue deteriorated by -0.47 % year on year, sequentially revenue grew by 4.5 %.
Patrick Industries Inc's Comment on Sales, Marketing and Customers
Recreational Vehicles The principal types of recreational vehicles include (1) towables: conventional
travel trailers, folding camping trailers, fifth wheel travel trailers, and truck
campers; and (2) motorized: motor homes.
The Company’s RV products are sold primarily to major manufacturers of
RVs, smaller OEMs, and to a lesser extent, manufacturers in adjacent industries.
The RV market is primarily dominated by Thor Industries, Inc. ("Thor")
and Forest River, Inc. ("Forest River") which combined held 86% of
retail market share for towables and 63% for motorized units as reported per
Statistical Surveys, Inc.
Recreational vehicle purchases are generally consumer discretionary income
purchases, and therefore, any situation which causes concerns related to discretionary
income can have a negative impact on this market. The Company believes that
industry-wide retail sales and the related production levels of RVs will continue
to be dependent on the overall strength of the economy, consumer confidence
levels, equity securities market trends, the level of disposable income, and
other demographic trends.
Demographic and ownership trends continue to point to favorable market growth
in the long term, as there is a culture shift toward outdoor activities, with
a large segment of the population’s “millennials” embracing
this outdoor lifestyle and entering into the RV marketplace. In addition, the
number of “baby-boomers” reaching retirement age is steadily increasing,
and the RV owning population in the 35-54 year-old demographic continues to
grow.
Manufactured Housing
The Company’s manufactured housing products are sold primarily to major
manufacturers of manufactured homes, other OEMs, and to a lesser extent, to
manufacturers in adjacent industries. Major MH customers include Clayton Homes,
Cavco Industries, Inc., and Champion Home Builders.
Factors that may favorably impact production levels in this industry include
quality credit standards in the residential housing market, job growth, favorable
changes in financing regulations, higher interest rates on traditional residential
housing loans, and improved conditions in the asset-backed securities markets
for manufactured housing loans.
Industrial Markets
Many of Patricks core manufacturing products are also utilized in the kitchen
cabinet, office and household furniture, fixtures and commercial furnishings,
and marine markets. These markets are generally categorized by a more performance-than-price
driven customer base, and provide an opportunity for the Company to diversify
its customer base. Additionally, other residential and commercial segments have
been less vulnerable to import competition, and therefore, provide opportunities
for increased sales penetration and market share gains.
Patrick Industries Inc’s Comment on Sales, Marketing and Customers
Recreational Vehicles The principal types of recreational vehicles include (1) towables: conventional
travel trailers, folding camping trailers, fifth wheel travel trailers, and truck
campers; and (2) motorized: motor homes.
The Company’s RV products are sold primarily to major manufacturers of
RVs, smaller OEMs, and to a lesser extent, manufacturers in adjacent industries.
The RV market is primarily dominated by Thor Industries, Inc. ("Thor")
and Forest River, Inc. ("Forest River") which combined held 86% of
retail market share for towables and 63% for motorized units as reported per
Statistical Surveys, Inc.
Recreational vehicle purchases are generally consumer discretionary income
purchases, and therefore, any situation which causes concerns related to discretionary
income can have a negative impact on this market. The Company believes that
industry-wide retail sales and the related production levels of RVs will continue
to be dependent on the overall strength of the economy, consumer confidence
levels, equity securities market trends, the level of disposable income, and
other demographic trends.
Demographic and ownership trends continue to point to favorable market growth
in the long term, as there is a culture shift toward outdoor activities, with
a large segment of the population’s “millennials” embracing
this outdoor lifestyle and entering into the RV marketplace. In addition, the
number of “baby-boomers” reaching retirement age is steadily increasing,
and the RV owning population in the 35-54 year-old demographic continues to
grow.
Manufactured Housing
The Company’s manufactured housing products are sold primarily to major
manufacturers of manufactured homes, other OEMs, and to a lesser extent, to
manufacturers in adjacent industries. Major MH customers include Clayton Homes,
Cavco Industries, Inc., and Champion Home Builders.
Factors that may favorably impact production levels in this industry include
quality credit standards in the residential housing market, job growth, favorable
changes in financing regulations, higher interest rates on traditional residential
housing loans, and improved conditions in the asset-backed securities markets
for manufactured housing loans.
Industrial Markets
Many of Patricks core manufacturing products are also utilized in the kitchen
cabinet, office and household furniture, fixtures and commercial furnishings,
and marine markets. These markets are generally categorized by a more performance-than-price
driven customer base, and provide an opportunity for the Company to diversify
its customer base. Additionally, other residential and commercial segments have
been less vulnerable to import competition, and therefore, provide opportunities
for increased sales penetration and market share gains.
Sources:
Patrick Industries Inc’s official press releases and regulatory filings; CSIMarket.com’s market research; and the financial filings and press releases of other companies cited in this report.
Updated on:
Focus of this report: Patrick Industries Inc’s corporate clients.
For your research, we’ve provided 9 tables on Patrick Industries Inc corporate clients.
You can find them in the navigation menu under Customers & Markets.
To download the tables, please subscribe.
Intraday data delayed per exchange requirements. All quotes are in local exchange time. Intraday data delayed 15 minutes for Nasdaq, and other exchanges. Fundamental and financial data for Stocks, Sector, Industry, and Economic Indicators provided by CSIMarket.com
Disclaimer: Information provided by CSIMarket.com is for informational purposes only and does not constitute investment advice, recommendation, or solicitation to buy or sell any security.
152.34 %
7.79 % 