President of RV, Patrick
Search every verified Jeffrey Rodino interview, podcast appearance, and on-the-record quote — each transcript cross-checked by AI and human review to confirm speaker identity. Jeff Rodino, president of RV at Patrick Industries, discussed the company's performance and market outlook in a September 2024 interview. He described the prior year as "a pretty tough year" for the markets Patrick serves, but expressed pride in how the team responded by consolidating operations and managing costs. Rodino stated that an upturn in the RV market is "far more likely in the second half of 2024 than the first half," citing potential changes in the interest rate environment. He noted that the company has positioned itself to "flex up" production when demand returns, and said he sees "nowhere but upward potential in all the markets we serve moving forward." Rodino also outlined a recent realignment of senior management, explaining that he continues to focus on the RV market while colleagues Kip Alis and Rick Ranger oversee power sports/housing and marine, respectively. He attributed the company's flexibility to consolidation efforts and investments in innovation, automation, and AI in its plants. In a 2022 interview, Rodino had reported record financial results—Q4 net sales of $1.1 billion (a 49% year-over-year increase) and full-year net sales of $4.1 billion (a 64% increase)—and described the company's strategy of disciplined acquisitions, having completed 85 to 90 acquisitions since 2009.
“It was a pretty tough year for all of us and a lot of the markets that we serve, but I got to tell you we were extremely proud of how our teams reacted to the changes in the markets that we serve. Our team has just done a tremendous job consolidating, putting things in perspective, and working hard at the plants to get...”
“We put ourselves in a good position to be able to work across the bottom like we are right now with the ability to flex up when we need to. Our teams have consolidated where needed and worked hard on innovation, automation, and AI in the plants, which have given us additional flexibility. We really don't see anywhere b...”
“Since 2009, we've made somewhere between 85 to 90 acquisitions. Through that process, we've really tried to increase our presence in the RV market, which is still roughly 45 to 50% of our core business. At the same time, we've diversified into other markets to gain financial flexibility and leverage innovations across...”
“We recently realigned senior management to clarify responsibilities across our company and apply expertise toward the markets we serve. For example, I continue focusing on the RV market, while Kip Alis handles power sports and housing, and Rick Ranger oversees the marine industry. This realignment gives us a lot of fle...”
“Innovation has been a big part of all our business units. We created an advanced products evolution group to bring overarching product innovation by leveraging engineering expertise across RV, power sports, and marine divisions. This allows us to package products together and capitalize on the strengths we've gained th...”
“From the RV standpoint, we're still waiting to see how retail shakes out. We believe inventories are in line at dealers and OEMs have done a fantastic job managing production levels with demand. Interest rates and inflation remain big components affecting retail demand, causing pain on the payment side and dealer floor...”
“The innovation and automation we've worked on since 2020 have poised us to be ready for the next rebound and produce at a much higher level the minute we need to. We're excited about the opportunities moving forward and what we're ready to do.”
“We believe an upturn in the RV market is far more likely in the second half of 2024 than the first half, largely due to interest rate environment changes. This timing gives us an opportunity for some uplift in production levels depending on retail and show season outcomes.”
“Q4 net sales were 1.1 billion, a 49% year-over-year increase, and full-year net sales were 4.1 billion, a 64% year-over-year increase. It was an incredible job by the team, especially given the difficult times with supply chain headwinds and unprecedented ramp-up in our main industries.”
“We invested heavily in our manufacturing facilities starting in 2020 to address labor issues through automation, which helped increase capacity and improve raw material utilization. We plan to increase capital expenditure by about 50% in 2022 to sustain current levels and improve operational efficiency.”
“We currently have a little over 80 business units and brands across approximately 130 locations in 26 states. We are one of the industry's most acquisitive companies and plan to continue disciplined acquisitions as part of our capital allocation strategy.”
“If retail holds its own, we expect a very robust year overall in 2022, with a strong first half and some leveling out in the latter half. The marine division has a longer runway due to lighter dealer inventory levels, and manufactured housing is performing as well as it has in 10 to 15 years.”
“Dealer inventory is lean but healthier compared to last year. While there is some additional stocking needed by RV dealers, the overall inventory position is in a good spot. We track wholesale versus retail inventories over the last 15 years to monitor this closely.”
“We dealt with rising costs throughout last year and continue to see cost increases into this year. We are doing everything we can to mitigate and flatten these costs, especially for RV-related materials, though some commodity prices are beyond our influence.”
“RV currently represents 59% of our business, marine about 17%, manufactured housing 13%, and industrial 12%. We never set out to diversify away from RVs, but growth in other divisions is healthy and may cause some fluctuation in these percentages over time.”
Patrick Industries President Jeff Rodino joins Rick Kessler and Sherm Goldenberg of RVBusiness for a Capitol Talk discussion on ...
In this episode of RVBusiness Capitol Talk, Sherm Goldenberg and Rick Kessler are joined by Patrick Industries President Jeff ...
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