Decent Q3 for Patrick Industries despite 22% revenue drop

Andy Nemeth 1

Slower demand in end markets offset in part through cost controls and automation investments to protect margins

Indiana, US-based component manufacturer Patrick Industries released its 2023 third quarter financial results on Thursday reporting a 22% overall revenue decrease as end markets, including the leisure marine sector and the RV camping industry, continue facing the impacts of inflationary pressures and higher consumer borrowing rates.

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