Patrick Industries, Inc. (NASDAQ:PATK) Q4 2023 Earnings Call Transcript

Andy Nemeth: So we love the outdoor enthusiast space and definitely are focused on that, especially with regards to the runway that exists and the opportunity for not only margin accretive businesses, but opportunities to continue to provide innovative solutions across our product spectrum with new businesses that we can partner with in those spaces. So we have cross-market opportunities. And certainly today, we’re working across markets with our businesses in the outdoor enthusiast space. So the ability to leverage that and provide a solution for our customer with additional runway is very compelling as we look at the M&A going forward. And so we would tell you, RV, marine and powersports are kind of a lane and the total addressable market, certainly with the recent acquisition of Sportech, has absolutely expanded for us to have a lot of options as it relates to M&A on a go-forward basis.

And again, I look at where our liquidity position at today, the strength of our capital structure, the opportunity to be opportunistic in the space and continue to look at deals, even today, we are continuing to maintain an active pipeline and want to continue to pursue M&A in that outdoor enthusiast space to continue to drive the business forward.

Operator: Thank you. Ladies and gentlemen, I will turn it over to Andy for closing remarks.

Andy Nemeth: Thank you. As we wrap up 2023, we must extend our sincere gratitude to the backbone of our success, our team members whose unwavering commitment has been instrumental in navigating the uncertainties that characterize the macroeconomic and industrial landscape this year. We performed impressively versus a record-breaking 2022 and feel confident bolstered by our organizational structure that will continue to grow stronger as a company. Our team’s collective efforts this year not only solidified our foundation but have set the stage for a future with continued strategic advancements and long-term growth. Thank you for your continued support.

Operator: Thank you, ladies and gentlemen. This concludes today’s conference. Thank you for participating. You may now disconnect.