Patrick Industries, Inc. (NASDAQ:PATK) Q3 2024 Earnings Conference Call October 31, 2024 10:00 AM ET

Company Participants

Steve O'Hara - VP, IR
Andy Nemeth - CEO
Jeffrey Rodino - President
Andrew Roeder - EVP, Finance, CFO, and Treasurer
Kip Ellis - President, Powersports, Technology & Housing

Conference Call Participants

Scott Stember - ROTH MKM
Mike Swartz - Truist Securities
Daniel Moore - CJS Securities
Noah Zatzkin - KeyBanc Capital Markets
Craig Kennison - Baird
Tristan Thomas-Martin - BMO Capital Markets
Alex Perry - Bank of America Merrill Lynch

Operator

Good morning, ladies and gentlemen, and welcome to Patrick Industries Third Quarter 2024 Earnings Conference Call. My name is Joe, and I will be your operator for today's call. [Operator Instructions] And please note that this conference is being recorded.

And now I will turn the call over to Mr. Steve O'Hara, Vice President of Investor Relations. Mr. O'Hara, please go ahead.

Steve O'Hara

Good morning, everyone, and welcome to our call this morning. I'm joined on the call today by Andy Nemeth, CEO; Jeff Rodino, President, RV; and Andy Roeder, CFO. Kip Ellis, President, Powersports, Technology and Housing is also here for Q&A. Certain statements made in today's conference call regarding Patrick Industries and its operations may be considered forward-looking statements under the securities laws. The company undertakes no obligation to publicly update any forward-looking statement, whether as a result of new information, future events, or otherwise. Additional factors that could cause results to differ materially from those described in the forward-looking statements can be found in the company's annual report on Form 10-K for the year ended December 31, 2023, and the company's other filings with the Securities and Exchange Commission.

I would now like to turn the call over to Andy Nemeth.

Andy Nemeth

Thank you, Steve. Good morning, everyone, and thank you for joining us on the call today. Once again, this quarter, I want to first and foremost thank our amazing team members for their incredible commitment, dedication, skillful execution, collaboration and attentiveness to maintaining our high level of organizational performance during this prolonged period of industry-wide headwinds in each of our end markets. OEMs and dealers have maintained strict inventory and production discipline in response to the current demand environment. We as well have adapted our model in alignment. Our business, while not totally unaffected, continues to be more resilient on a relative basis. This is the direct result of several factors included in our strategic plan, including our ongoing diversification, strategic approach to M&A, and prudent cost management, which have all played key roles.