Filing Flows › Patrick Industries (PATK) › Q2 2025
Patrick Industries (PATK) Q2 2025 earnings results (second quarter 2025)
10-Q filed Aug 7, 2025
Patrick Industries (PATK) reported revenue of $1.0B for the second quarter 2025 (Q2 2025), +3% from a year earlier and +4% from the quarter before. Operating margin was 8.3%, net earnings $32.4M (3.1% of revenue).
Patrick Industries, Q2 2025: revenue $1.0B (+3% year over year), operating margin 8.3%, net earnings $32.4M, operating cash flow $149M. The chart follows the revenue to costs, profit and cash.
| Q2 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $1.0B | +4% | +3% |
| Gross profit | $251M | +10% | +8% |
| Operating profit | $86.7M | +32% | +2% |
| Net earnings | $32.4M | -15% | -32% |
| Operating cash flow | $149M | +273% | +9% |
| Free cash flow | $131M | +559% | +9% |
What changed
Revenue was $1.0B in Q2 2025, up 3% year over year and up 4% from the previous quarter. Recreational Vehicle was the largest line at 46% of revenue. Recreational Vehicle added $0.03B year over year (up 7%), 96% of the total change. Powersports declined 7%.
Gross margin was 23.9%, up 1.2 points from a year earlier. Operating profit was $0.09B, a 8.3% margin (down 0.1 points year over year). Of the extra revenue versus a year earlier, 7% reached operating profit, below the 8% margin then. Operating expenses grew 12% against revenue growth of 3%. The fastest-growing cost line was Other operating costs (+12%). Net earnings were $0.03B, down 32% year over year. The effective tax rate was 25.3%.
Operating cash flow was $0.15B (up 9% year over year), 461% of net earnings. Non-cash charges added back $0.04B of depreciation and amortization and $0.01B of share-based compensation. Working capital and other items added $0.07B. Capital expenditures of $0.02B left free cash flow of $0.13B.
Questions
What was Patrick Industries' revenue in the second quarter 2025?
Patrick Industries (PATK) reported revenue of $1.0B for the second quarter 2025 (Q2 2025), +3% from a year earlier and +4% from the quarter before.
Was Patrick Industries profitable in the second quarter 2025?
Operating profit was $86.7M (8.3% of revenue) and net earnings $32.4M.
Source: Patrick Industries 10-Q on SEC EDGAR.