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PATRICK News Release Patrick Industries , Inc. Reports Third Quarter 2021 Financial Results Third Quarter 2021 Highlights ( compared to Third Quarter 2020 unless otherwise noted ) Net sales of $ 1.1 billion increased 51 % , reflecting momentum in all end markets Operating income of $ 93.3 million increased 56 % Operating margin of 8.8 % increased 30 basis points Net income of $ 57.4 million increased 54 % Diluted earnings per share of $ 2.45 increased 51 % • Operating cash flows of $ 68.7 million Acquisitions of Coyote Manufacturing and Tumacs Covers ELKHART , IN - October 28 , 2021 - Patrick Industries , Inc. ( NASDAQ : PATK ) , a leading component solutions provider for the RV , marine , manufactured housing ( " MH " ) and industrial markets today reported financial results for the third quarter ended September 26 , 2021 . Net sales in the third quarter of 2021 increased $ 359.5 million , or 51 % , to $ 1.1 billion from $ 700.7 million in the third quarter of 2020. The increase reflects continued strong performance in our RV and marine leisure lifestyle markets as well as the MH and industrial end markets . Operating income of $ 93.3 million increased $ 33.5 million , or 56 % , from $ 59.8 million in the third quarter of 2020. Operating margin of 8.8 % in the third quarter of 2021 increased 30 basis points compared to 8.5 % in the same period a year ago . Net income was $ 57.4 million , an increase of 54 % compared to $ 37.3 million in the third quarter of 2020. Diluted earnings per share was $ 2.45 , an increase of 51 % for the third quarter of 2021 compared to $ 1.62 for the third quarter of 2020 . " Market conditions across our platform continue to reflect strong trends and expectations while providing good visibility into 2022 , " said Andy Nemeth , Chief Executive Officer . " The talent , resilience , and creative initiatives of our team members , in combination with the partnership of our customers , helped us to successfully navigate an incredibly complex and dynamic supply chain environment . Retail demand for leisure lifestyle products remains high , and has resulted in decreasing dealer inventories and increasing OEM backlogs despite record industry production levels . At the same time , our sales to the housing and industrial markets continue to benefit from low dealer inventories , attractive financing rates and robust home improvement and remodel activity . " Jeff Rodino , President , said , " During the quarter , we welcomed the Coyote Manufacturing and Tumacs Covers teams into the Patrick family , a continuation of our strategic expansion of our marine portfolio and custom marine solutions capabilities . Additionally , our focus on human capital is translating into investments in our people and the tools they need to create solutions and innovations for our customers , while at the same time we continue to invest in cultural initiatives that support the ongoing development of our team members . "