Patrick Industries, Inc. Reports Record Fourth Quarter and Full Year 2021 Financial Results

Author's Avatar
Feb 10, 2022

Fourth Quarter 2021 Highlights (compared to Fourth Quarter 2020 unless otherwise noted)

- Net sales of $1.1 billion increased 49%

- Operating income of $95 million increased 52%

- Operating margin of 8.3% increased 30 basis points

- Net income of $61 million increased 61%

- Diluted earnings per share of $2.62 increased 60%

- Operating cash flows of $105 million increased 121%

- Acquisitions of Williamsburg and Wet Sounds

Full Year 2021 Highlights (compared to Full Year 2020 unless otherwise noted)

- Net sales of $4.1 billion increased 64%

- Operating income of $352 million increased 103%

- Operating margin of 8.6% increased 160 basis points

- Net income of $225 million increased 132%

- Diluted earnings per share of $9.63 increased 129%

- Operating cash flows of $252 million increased 57%

- Completed 10 acquisitions

PR Newswire