Virginia, October 27, 2025

The Virginia Retirement System and other investors have acquired positions in Patrick Industries, Inc. ($PATK), a company focused on building products for the outdoor recreation sector. This move comes as Patrick Industries reports robust quarterly earnings, benefitting from growth in the U.S. housing and leisure markets, signaling investor confidence in the company’s potential amidst expanding opportunities in these sectors.

Richmond, Virginia – October 27, 2025

Virginia Retirement System has recently acquired a new position in Patrick Industries, Inc. (NASDAQ: PATK), a company specializing in building products for the outdoor recreation industry. This investment aligns with Patrick Industries’ strong financial performance, highlighted by a 3% increase in net sales to $1.05 billion in the second quarter of 2025, driven by growth in the RV and Manufactured Housing markets. The company also reported an adjusted net income of $51 million, or $1.50 per diluted share, excluding a one-time legal settlement expense. Additionally, Patrick Industries has been actively returning value to shareholders, repurchasing approximately $23 million worth of shares and paying $13 million in dividends during the quarter. ([beyondspx.com](https://www.beyondspx.com/quote/PATK/news/patrick-industries-reports-3-net-sales-growth-to-105-billion-in-second-quarter-2025-adjusted-eps-ris?utm_source=openai))

Investment Details

The Virginia Retirement System’s investment in Patrick Industries reflects confidence in the company’s strategic direction and market position. This move comes as Patrick Industries continues to expand its presence in the outdoor recreation sector, capitalizing on the growing demand for recreational vehicles and related products.

Financial Performance

In the second quarter of 2025, Patrick Industries achieved a 3% increase in net sales, reaching $1.05 billion. This growth was primarily driven by higher revenue in the RV and Manufactured Housing markets, which offset declines in the Marine and Powersports sectors. The company’s operating income rose by 2% to $87 million, maintaining an operating margin of 8.3%. Adjusted net income, excluding a one-time legal settlement expense, was $51 million, or $1.50 per diluted share. ([beyondspx.com](https://www.beyondspx.com/quote/PATK/news/patrick-industries-reports-3-net-sales-growth-to-105-billion-in-second-quarter-2025-adjusted-eps-ris?utm_source=openai))

Shareholder Returns

Demonstrating a commitment to shareholder value, Patrick Industries repurchased 277,800 shares for over $23 million and paid $13 million in dividends during the quarter. These actions reflect the company’s strong cash flow and dedication to returning value to its investors. ([beyondspx.com](https://www.beyondspx.com/quote/PATK/news/patrick-industries-reports-3-net-sales-growth-to-105-billion-in-second-quarter-2025-adjusted-eps-ris?utm_source=openai))

Market Outlook

Patrick Industries remains well-positioned to capitalize on the expanding housing and leisure markets in the U.S. The company’s diversified product offerings and strategic acquisitions have enhanced its ability to meet the evolving needs of the outdoor recreation industry.

About Patrick Industries, Inc.

Founded in 1959, Patrick Industries, Inc. is a leading component solutions provider serving the RV, Marine, Powersports, and Housing markets. The company is known for its customer-focused approach that integrates design, manufacturing, distribution, and transportation, empowering manufacturers and outdoor enthusiasts to achieve next-level recreation experiences. ([patrickind.com](https://www.patrickind.com/?utm_source=openai))

About Virginia Retirement System

The Virginia Retirement System is a public pension fund that manages retirement benefits for state employees, teachers, and other public servants in Virginia. The system invests in a diversified portfolio to ensure the financial security of its beneficiaries.

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Virginia Retirement Systems Expands Investment in Patrick Industries
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Author: VIRGINIA STAFF WRITER

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