Patrick Industries, Inc.

Good morning, ladies and gentlemen, and welcome to Patrick Industries' third quarter 2025 earnings conference call. My name is Rob, and I'll be your operator for today's call. At this time, all participants are in listen-only mode. A question and answer session will follow the formal presentation. If anyone should require operator assistance during the conference, please press star zero on your telephone keypad. Please note, this conference is being recorded. And I'll now turn the call over to Mr. Steve O'Hara, Vice President of Investor Relations. Mr. O'Hara, you may begin.

Good morning, everyone, and welcome to our call this morning. I'm joined on the call today by Andy Nemeth, CEO, Jeff Rodino, President, and Andy Rader, CFO. 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 that differ materially from those described in the forelooking statements can be found in the company's annual report on Form 10-K for the year ended December 31, 2024, and the company's other filings with the Securities and Exchange Commission. I would now like to turn the call over to Andy Niemann.

Thank you, Steve. Good morning, everyone. We appreciate you joining us on the call today. We delivered solid third quarter performance, demonstrating the resilience of our business in a dynamic and unique environment. Net sales for the quarter increased 6% to $976 million, with organic growth contributing more than 4% and offsetting an almost 2% decline in our industry shipment levels. Earnings per diluted share was $1.01, including approximately $0.07 of dilution from our convertible notes and related warrants. On a trailing 12-month basis, net sales were approximately $3.9 billion. Our results reflect both the strength of our diversified business model, solid organic growth as a result of our team's innovation and advanced product efforts, and their incredible execution as we continue to navigate dynamic demand levels across our end markets and challenges facing the broader economy. Our OEM and dealer partners continue to exhibit disciplined production, leaving inventory even leaner across all of our outdoor enthusiast markets and positioning us positively for a potential restock when retail inflects. We remain well equipped to capture meaningful upside when that inflection occurs, both strategically and organically. We ended the quarter with a strong balance sheet and total net liquidity of $779 million. Our financial position enables us to remain flexible and nimble in supporting our customers' growth needs with a variety of levers, while continuing to execute a balanced capital allocation strategy. We expect to continue our investments in the aftermarket and new product development both through heavy emphasis on model year prototyping and in combination with our advanced product group, which is focused on product development several model years out. Additionally, and importantly, we are continuing to invest in digital tools, data analytics, and AI-powered solutions across our business to drive greater efficiency, accelerate decision-making, reduce costs, and unlock new value for our customers. We continue to be proactive in strengthening the Patrick platform through strategic initiatives, like the acquisitions of Lilypad Marine, Medallion Instrumentation Systems, and Elkar Composites, as well as the modernization of our processes, technology, and equipment, and optimizing our aftermarket resources to create new opportunities for our brands. These investments are expected to continue to contribute to our share gains across our end markets. Building on strong revenue execution across our primary end markets, we continue to make meaningful progress in expanding our content per unit, or CPU, through a combination of innovation, collaboration, and targeted investment. Our teams are working closely with OEM partners to integrate new products and technologies that elevate the functionality, design, and consumer appeal of products like RVs, boats, and side-by-sides. In the third quarter, we achieved constant gains across all of our outdoor enthusiast markets and our MH market, reflecting both our expanding product portfolio and the growing adoption of our integrated full solutions platforms. These content gains underscore the power of our diversified model and validate the continued demand for Patrick's high-valued, individualized, and differentiated solutions that enhance performance, efficiency, and aesthetics across every category we serve. Subsequent to quarter end, our marine brands had a successful and prominent showing at IBEX, the Marine Industry Suppliers Show. Our increased presence unveiled the scale of Patrick's platform while reinforcing our commitment to a brand-forward approach and showcasing our innovative product lineup, fully demonstrating the depth and breadth of Patrick's solutions. At the show, guests had the opportunity to explore our full solutions experience boat, allowing them to engage with numerous Patrick products, including the Medallion's touchscreen displays, wet sound speakers, BHE harnesses and wiring, lily pad ladders, Seadeck flooring and lighted cup holders, XT carbon tops, and taco seating. I also want to congratulate the team at TACO on their IBEX Innovation Award for their Altura Luxury Helm Seat, a new flagship helm chair with a patented stainless steel frame concealed inside a teak ladder back. Additionally, I'm proud to share that our former President of Marine, Rick Ranger, was inducted to the NMMA Hall of Fame. With more than 40 years of leadership in the recreational boating industry, Rick has influenced many generations of colleagues and competitors alike. Finally, I want to again recognize the remarkable efforts of the Patrick team. Their commitment, adaptability, and focus on serving our customers has been extraordinary during these dynamic times and continues to drive brand-fronted partnership model with our customers. Beyond cyclical dynamics, we expect to drive continued strategic growth through M&A, aftermarket expansion, innovative product development, and our diversified portfolio. Our solid balance sheet and solutions-driven strategy keep us well positioned for sustainable long-term profitable growth. I'll now turn the call over to Jeff, who will highlight the quarter and provide more detail on our end markets. Thanks, Andy. And good morning, everyone.