Patrick Inds

Q2 FY2026 EarningsQ2 FY26 revenue of $1,041.7M beat consensus by 4.70%, driven by robust 28% growth in powersports and 22% growth in marine markets, which offset a 15% decline in the RV sector. Gross margin of 23.77% slightly exceeded the expected 23.59%, despite headwinds from higher warehouse and delivery costs. Diluted EPS (GAAP) of $1.28 beat the $1.25 mean estimate, supported by aggressive share buybacks totaling $91.4M during the quarter. The announcement of a definitive merger with LCI Industries marks a strategic shift, though it introduces significant integration and regulatory risks through 2027.