An Excellent Q1 for Brunswick Corp and Patrick Industries


Patrick Industries reported growth across all of its market sectors in the first quarter of 2021, posting a 44 increase in net sales to $850.5 million.

The Elkhart, Ind.-based manufacturer and distributor also saw a 124 percent spike in net income, to $47.5 million, compared with the first quarter a year prior.

Patrick said the RV and marine segments led the charge, with RV posting net sales of $501.4 million, a 57 percent increase. The company said wholesale RV unit shipments increased by 48 percent.

In the marine division, sales increased 75 percent to $137 million, with wholesale shipments showing a 14 percent gain.

Diluted earnings per share for the first quarter were $2.04, a 124 percent increase from $0.91 in the first quarter of 2020.

The company also continued its pattern of strategic acquisitions, adding Sea-Dog Corp. in March.

“The demand for outdoor recreation remains solid, in alignment with our view of the tremendous attractiveness and potential of the RV and marine markets,” president and CEO Andy Nemeth said in a statement. “The size, scale and flexibility of our operating and financial platform allowed us to execute strategically and tactically during the quarter, while leveraging our fixed cost structure to drive increased profitability.”


A Collective Voice Against Tariffs

Organizations in the E.U. and U.S. have issued a statement ahead of next week’s Brussels Summit urging for the termination of retaliatory tariffs.

ABYC Free Webinar Series Returns

The association’s online learning events will continue with “Fuel System Troubleshooting” on June 17.

Getting to Know the Newbies

At last week’s Partners Outdoors symposium, RBFF’s Stephanie Vatalaro shared information that can help the marine industry get to know its new audiences.

Switching to Compostable Bags

Foul-weather gear maker Grundéns will start using eco-packaging that you can cut up and use in the garden.

Brunswick Corp. CEO to Headline Innovation Summit

David Foulkes will speak on implementation at the Sept. 9 summit, organized by Correct Craft.

Navico Hires Americas PR Manager

Navico brings its public-relations duties in-house with the hiring of Kim Rodriquez.

Galeon Expands Dealer Network

The builder looks to British Columbia-based dealer Freedom Marine to grow the brand in western Canada.

No Inventory? Now Is Not The Time to Stop Marketing

The MRAA’s Webinar “Marketing When You Have No Inventory” covered how dealers can build long-term equity with new and returning customers as demand outpaces supply.