Business Context and Reporting Period
Company: Patrick Industries, Inc. (PATK)
Filing Type: Form 8-K (Current Report)
Date of Report: August 1, 2024
Reporting Period: Second quarter ended June 30, 2024
This filing serves to announce the Company's operating results for the second quarter of 2024 and disclose a change in executive leadership. The financial results are detailed in a press release furnished as Exhibit 99.1.
Key Financial Metrics
The filing text itself does not contain specific numerical values for revenue, profit, cash flow, margins, debt, or liquidity. These metrics are referenced as being contained within the press release (Exhibit 99.1) and earnings presentation slides (Exhibit 99.2) attached to the filing.
Material Changes
- Executive Appointment: Matthew S. Filer was elected as Chief Accounting Officer on May 16, 2024.
- Role History: Mr. Filer joined the company in November 2022 as Senior Vice President - Finance. He previously served as Interim Executive Vice President - Finance, Chief Financial Officer, and Treasurer from May 2023 to March 2024 before resuming his SVP role.
- Filing Timing: The report was delayed to coincide with the issuance of the press release announcing the appointment and the Q2 results.
Guidance, Outlook, and Risks
The filing references an earnings presentation (Exhibit 99.2) which typically contains management commentary, outlook, and risk factors, but the text of this 8-K does not explicitly state guidance figures or specific risk contingencies. The information is furnished pursuant to Regulation FD and is not deemed "filed" for purposes of Section 18 of the Securities Exchange Act of 1934 unless expressly incorporated by reference.
Investor Verification Checklist
- Review Exhibit 99.1 (Press Release) for specific Q2 2024 revenue, earnings per share, and margin figures.
- Examine Exhibit 99.2 (Earnings Presentation Slides) for forward-looking guidance and management commentary on market conditions.
- Verify the impact of the new Chief Accounting Officer appointment on internal controls and financial reporting processes.
- Confirm if the Q2 results meet or exceed analyst expectations as implied by the market reaction to the press release.