ELKHART, Ind. – Patrick Industries said productivity improvements and labor efficiencies contributed to first-quarter net income of $112.7 million, a 137% increase over the same period in 2021.
Patrick, No. 58 in the FDMC 300, posted net sales of $1.3 billion for Q1 2022, an increase of $491.7 million or 58% compared to Q1 2021. The company said its expanded sales reflected momentum in all of its end markets and contributions for 2021 acquisitions.
Net sales in the first quarter of 2022 increased by $491.7 million, or 58%, to $1.3 billion from $850.5 million in the first quarter of 2021. The increase reflects continued strong performance in our RV and marine leisure lifestyle markets as well as our MH and industrial end markets, market share gains, and the impact of acquisitions completed in 2021.
Patrick’s Operating margin of 12.1% in the first quarter of 2022 increased 400…