FAIRFAX, Va. – The RV Industry Association today reminded members The hotel deadline for the 2025 RV Industry Association Leadership Conference is Friday, Feb. 7 – tomorrow.

“Make sure to register today so you don’t miss your chance to participate in an unforgettable two days of leadership development while networking with current and next-gen leaders. You’ll gain invaluable industry insight, and leave enriched in your career development,” the RVIA noted in a release.

Click here to reserve a hotel room before the cut-off date.

The conference sessions and panels are designed to help nurture talent, provide a space to develop a deeper understanding of critical industry issues, and connect with the next generation of leaders in the RV industry, the release stated.

The post RVIA: Last Chance to Register for Leadership Conference  first appeared on RVBusiness - Breaking RV Industry News.

SHIPSHEWANA, Ind. – Sunset Park RV, an independent manufacturer based in Shipshewana, Ind., announced its top-performing dealers for 2024. These awards recognize dealers who have demonstrated outstanding sales performance and dedication to serving Sunset Park RV customers, according to a release

“At Sunset Park RV, we are proud of our dealer network and the role they play in bringing our products to campers across North America,” said Jason Howard, VP of Sales. “These awards recognize their hard work, commitment and success in representing our brands.”

The 2024 Dealer Awards honor the top dealers across five U.S. regions, as well as the highest-performing dealer in US, Canada, and North America overall:

• Keith’s Trailer Sales (Erin, ON) – North America & Canada
• Trailer World of Colorado (Henderson, CO) – United States & Central USA
• Roy’s RV Supercenter (Elkins, WV) – Northeastern USA
• Neal’s RV Center (Orem, UT) – Western USA
• Mig RV & Marine Super Center (Bellefontaine, OH) – Midwest (Back-to-Back Winner)
• RV Roadway (Calera, AL) – Southeastern USA

Sunset Park RV congratulates these outstanding dealers and appreciates their continued partnership, the release continued. Their efforts ensure customers across North America have access to high-value, lightweight RVs built for adventure.

For more information about Sunset Park RV, its dealer network, or the full line of small, lightweight trailers, please visit www.sunsettrailers.com. If you are interested in becoming a dealer, please contact [email protected].

The post Sunset Park RV Announces 2024 Top-Performing Dealers first appeared on RVBusiness - Breaking RV Industry News.

STOCKHOLM – Dometic Group AB on Wednesday (Feb. 5) issued SEK 2.5 billion in the Swedish krona bond market, according to a release. SEK 2.5 billion is the equivalent of just over $229 million in U.S. dollars.

The bonds were issued across three tranches consisting of a 3-year Floating Rate Note with a coupon of 3m Stibor +275bps, a 3-year Fixed Rate Note with a coupon of 4.925% and a 5-year Floating Rate note with a coupon of 3m Stibor +325bps, the release continued.

The bonds have been issued under Dometic’s EUR 1.5bn Euro Medium Term Note (“EMTN”) program dated 14 June 2024 and is Dometic’s first ever public transaction in the Swedish Krona bond market. The bonds will be listed on the Official List of Euronext Dublin.

“We are pleased with the success of our first ever public Swedish krona bond and the substantial investor interest in our home market. We have further broadened our sources of funding with the entry into this market. The funds will mainly be used to manage our current debt portfolio”, says Dometic’s Chief Financial Officer Stefan Fristedt.

The announcement comes less than a week after the company released its fourth quarter 2024 financial results (see “Dometic Q4 Report Shows ‘Restrained Consumer Spending’”) showing improved operating cash flow and EBITA which, the company states, were in line with expectations.

The post Dometic Issues SEK 2.5 Billion in Swedish Bond Market first appeared on RVBusiness - Breaking RV Industry News.

Heath Padgett and co-founders Josiah Mann and Dennis Lankes have launched RV Help, a solution for connecting RV owners with certified mobile technicians and inspectors. With a strong history of successful startups in the RV industry, Padgett hopes to transform how RV owners access essential services.

At the recent Florida RV SuperShow, Padgett and his partners unveiled their new venture to the media, industry professionals, and consumers.

“It went really well,” explained Padgett. “We did the Content Creator meet-up and then the show. People were excited. Industry Day was probably my favorite day because we got to interact and engage with service providers and inspectors, many of whom we have been speaking with on the phone or through our Zooms.”

RV Help aims to provide RVers with peace of mind by connecting them with qualified service partners. Additionally, industry OEMs and suppliers have expressed interest, according to Padgett.

“A lot of companies seem to want to be able to have certified technicians go and do warranty work or installs on their product. It was great to connect with those folks in Tampa and to hear that what we’re building will have value not just for RVers but for many manufacturers and suppliers.

“I was a full-time RVer for six years, and there are several situations where I don’t want to drop off my RV, which I live in, for service. So, many manufacturers acknowledge that mobile RV technicians can be a valuable option for serving customers.

Finding and referring qualified mobile service providers and inspectors is key to RV Help’s success. “Trusting the level of service” is how Padgett described it.

To accomplish this, Padgett has partnered with the RV Technician Association of America (RVTAA) and the National RV Inspectors Association (NRVIA) to allow their certified members to be on the RV Help platform, ensuring a baseline of quality and training for the service providers. Padgett looks forward to working with other training institutions to expand the database further.

Today, the RV Help website shows approximately 1500 mobile service providers and inspectors across the United States, with nearly 500 claiming and verifying their profiles in the two weeks since the site went live. Padgett expects to reach 1,000 verified profiles before the busy summer season.

For service providers and inspectors, there is no charge to be listed on the site, and consumer access is also free.

RV Help plans to eventually offer a premium membership for RV owners, including features like discounts, remote diagnostics, and the ability to track and save technician records.

Commented Padgett, “We are excited about the potential for growth and future developments, and we invite potential partners and investors to join us on this journey.”

The post Serial Entrepreneur Heath Padgett Launches ‘RV Help’ first appeared on RVBusiness - Breaking RV Industry News.

FAIRFAX, Va. – The Go RVing 2025 RV Owner Demographic Profile reveals a dynamic shift in the RV ownership landscape. The study, conducted by Ipsos, a global market research and public interest specialist company, unveils a younger, more diverse, and increasingly engaged RV owner base.

The Owner Demographic Profile was the topic of a members-only seminar from 9 to 11 this morning at the Lerner Theater in Elkhart, Ind.

Jeremy Greene, vice president of marketing, and Monika Geraci, senior director of public relations & communications, as well as Ipsos vice president Tim Reimer provided an in-depth look at this pivotal RV industry research.

Findings in the profile include:

• A New Generation of RVers: The profile of RV owners is undergoing a transformation, with a notable increase in younger and more diverse owners compared to previous years.
• Younger Families: This trend is particularly evident among first-time owners and families with children under 18. The median age of RV owners has declined from 53 in 2021 to 49 in 2025, with 46% of owners now falling within the 35-54 age range.
• Diverse Ownership: The RV community is becoming more inclusive, with a growing number of Hispanic-American, African-American, Asian-American, and LGBTQ+ owners, who now make up 30% of RV owners.
• Increased Usage: RV owners are spending more time on the road, with the median number of days used per year rising to 30, a 50% increase over usage in 2021.
• Strong Motivations: The top three motivators for purchasing an RV include spending time in nature (54%), simply unwinding and relaxing (52%), and visiting locations with natural beauty (49%). 
• And more!

“As the RV industry continues to evolve, it is well-positioned to capitalize on the growing interest in outdoor recreation, flexible work arrangements, and experiential travel,” said Go RVing CMO Karen Redfern. “By embracing innovation, targeting new audiences, and providing exceptional customer experiences, the RV industry can drive sustained growth and solidify its place as a cornerstone of the American lifestyle.”

Click here to read the full release.

Click here to see the full, members-only report.

The post Go RVing Releases 2025 RV Owner Demographic Profile first appeared on RVBusiness - Breaking RV Industry News.

FAIRFAX, Va. – The Go RVing 2025 RV Owner Demographic Profile reveals a dynamic shift in the RV ownership landscape. The study, conducted by Ipsos, a global market research and public interest specialist company, unveils a younger, more diverse, and increasingly engaged RV owner base.

The Owner Demographic Profile was the topic of a members-only seminar from 9 to 11 this morning at the Lerner Theater in Elkhart, Ind.

Jeremy Greene, vice president of marketing, and Monika Geraci, senior director of public relations & communications, as well as Ipsos vice president Tim Reimer provided an in-depth look at this pivotal RV industry research.

Findings in the profile include:

• A New Generation of RVers: The profile of RV owners is undergoing a transformation, with a notable increase in younger and more diverse owners compared to previous years.
• Younger Families: This trend is particularly evident among first-time owners and families with children under 18. The median age of RV owners has declined from 53 in 2021 to 49 in 2025, with 46% of owners now falling within the 35-54 age range.
• Diverse Ownership: The RV community is becoming more inclusive, with a growing number of Hispanic-American, African-American, Asian-American, and LGBTQ+ owners, who now make up 30% of RV owners.
• Increased Usage: RV owners are spending more time on the road, with the median number of days used per year rising to 30, a 50% increase over usage in 2021.
• Strong Motivations: The top three motivators for purchasing an RV include spending time in nature (54%), simply unwinding and relaxing (52%), and visiting locations with natural beauty (49%). 
• And more!

“As the RV industry continues to evolve, it is well-positioned to capitalize on the growing interest in outdoor recreation, flexible work arrangements, and experiential travel,” said Go RVing CMO Karen Redfern. “By embracing innovation, targeting new audiences, and providing exceptional customer experiences, the RV industry can drive sustained growth and solidify its place as a cornerstone of the American lifestyle.”

Click here to read the full release.

Click here to see the full, members-only report.

The post Go RVing Releases 2025 RV Owner Demographic Profile first appeared on RVBusiness - Breaking RV Industry News.

ELKHART, Ind. – Patrick Industries Inc. (NASDAQ: PATK), a leading component solutions provider for the outdoor enthusiast and housing markets, today reported financial results for the fourth quarter and year ended Dec. 31.

Fourth Quarter and Full Year 2024 Highlights (compared to Fourth Quarter and Full Year 2023 unless otherwise noted)

• Net sales for the fourth quarter and full year increased 8% to $846 million and 7% to $3.7 billion, respectively, reflecting the contribution of acquisitions, and higher revenue from our Housing and RV end markets.
• Operating margin for the fourth quarter and full year was 4.7% and 6.9%, respectively. Adjusted operating margin¹ for the fourth quarter and full year was 5.2% and 7.2%, respectively.
• Diluted earnings per share (EPS) for the fourth quarter and full year 2024 was $0.42 and $4.11, respectively. Adjusted diluted EPS¹ for the fourth quarter and full year 2024 was $0.52 and $4.34, respectively.
• Reported and adjusted diluted EPS¹ for the fourth quarter and full year 2024 included an estimated $0.02 per share and $0.10 per share, respectively, related to the dilutive impact of our convertible notes and related warrants in the periods.
• Full year 2024 adjusted EBITDA¹ of $452 million increased 6% and full year 2024 adjusted EBITDA margin¹ decreased 10 basis points to 12.2%.
• Free cash flow¹ for 2024 was $251 million. Patrick returned $55 million to shareholders in 2024 in the form of dividends and share repurchases.
• During 2024, Patrick strengthened its Powersports platform through the acquisition of Sportech, LLC in January, and significantly expanded its Outdoor Enthusiast aftermarket presence with the September acquisition of RecPro.
• In the fourth quarter, the Company amended and extended the maturity of its senior credit facility and issued $500 million aggregate principal amount of 6.375% Senior Notes due 2032. The Company redeemed its $300 million 7.50% Senior Notes due 2027 with a portion of the proceeds.
• In November, the Company increased its share repurchase authorization to $200 million and quarterly cash dividend by 9%. Patrick executed a three-for-two stock split in December.

Fourth quarter net sales increased 8% to $846 million compared to $781 million in the fourth quarter of 2023. The improvement in sales reflected the contribution of acquisitions completed during the year, a 12% improvement in Housing end market revenue and market share gains. The improvement in sales was partially offset by lower revenue from our Marine end market due to lower marine industry wholesale shipments.

Operating income of $40 million decreased $17 million, or 31%, compared to the fourth quarter of 2023. Operating margin decreased 260 basis points to 4.7%, reflecting higher amortization related to acquisitions and our strategic decision to maintain production capacity to enhance our ability to serve customers as they prepare for the upcoming selling season. On an adjusted basis¹, operating margin was 5.2%. 

Net income was $15 million or $0.42 per diluted share in the fourth quarter of 2024 compared to $31 million or $0.94 per diluted share in the same period last year. On an adjusted basis¹, net income was $18 million or $0.52 per diluted share in the fourth quarter of 2024. Adjusted diluted EPS¹ includes the dilutive impact of our convertible notes and related warrants, or an estimated $0.02 per share. Adjusted EBITDA¹ was $89 million and adjusted EBITDA margin¹ was 10.6% in the fourth quarter of 2024 compared to adjusted EBITDA¹ of $100 million and adjusted EBITDA margin¹ of 12.8% in the same period last year.

“Our team continued to execute in 2024 with a steadfast commitment to excellence and innovation, addressing evolving customer needs while advancing our long-term strategic objectives,” said Andy Nemeth, Chief Executive Officer. “As we navigated dynamic markets facing demand and interest rate pressures, we prioritized optimizing our operations and elevating our customer first expectations, presence and capabilities. Last year was strategically significant, as we completed two key acquisitions: Sportech, which solidifies our platform in the Powersports market, and RecPro, which meaningfully expands our presence in the Outdoor Enthusiast aftermarket space. We also bolstered our liquidity and financial flexibility by expanding and extending our credit facility and by refinancing a portion of our debt, which extended our maturity horizon and reduced the average interest rate of our fixed rate debt, supporting our strong foundation to capitalize on future opportunities and drive shareholder value in 2025 and beyond.”

Jeff Rodino, President – RV, said, “Last year, we continued to see diligent dealer inventory management due to high floorplan costs and uncertain consumer demand. Looking at 2025, we believe there are promising trends occurring in our RV market as the industry prepares for the upcoming selling season. While our experience suggests that RV tends to be the first of our Outdoor Enthusiast markets to improve after a down cycle, we will closely monitor the impact of interest rates and consumer confidence on all of our end markets and continue to drive our business for long-term profitable growth.”

 Fourth Quarter 2024 Revenue by Market Sector
(compared to Fourth Quarter 2023 unless otherwise noted)

RV (42% of Revenue)

• Revenue of $358 million increased 1% while wholesale RV industry unit shipments increased 3%.
• Full year content per wholesale RV unit increased 1% to $4,870. Compared to the trailing twelve-month period through the third quarter of 2024, content per wholesale RV unit was flat.

Marine (14% of Revenue)

• Revenue of $122 million decreased 17% while estimated wholesale powerboat industry unit shipments decreased 20%. Our Marine end market revenue previously included Powersports revenue, which we began to report separately following the Sportech acquisition. End market revenue and content per unit have been adjusted to reflect this change for the relevant periods.
• Full year estimated content per wholesale powerboat unit decreased 3% to $3,967. Compared to the trailing twelve-month period through the third quarter of 2024, content per wholesale powerboat unit increased 1%.

Powersports (9% of Revenue)

• Revenue of $78 million increased 228%, driven primarily by the acquisition of Sportech.

Housing (35% of Revenue, comprised of Manufactured Housing (“MH”) and Industrial)

• Revenue of $288 million increased 12%; wholesale MH industry unit shipments increased 15%; total housing starts decreased 6%, with single-family housing starts decreasing 5% and multifamily housing starts decreasing 9%.
• Full year content per wholesale MH unit increased 4% to $6,604. Compared to the trailing twelve-month period through the third quarter of 2024, content per wholesale MH unit increased 1%.

Full Year 2024 Results

Net sales of $3.7 billion increased 7% compared to 2023 as a result of strategic acquisitions completed during the year and higher revenue from our Housing and RV end markets, partially offset by lower Marine end market revenue.

Operating income of $258 million decreased 1% compared to 2023 and GAAP reported operating margin was 6.9%. Adjusted operating margin¹ was 7.2%, a decrease of 30 basis points compared to 2023.

Net income of $138 million decreased 3% in 2024 compared to $143 million in 2023, while diluted earnings per share decreased 5% to $4.11 compared to $4.33 in the prior year. Adjusted net income¹ was $146 million and adjusted diluted EPS¹ was $4.34. Adjusted diluted EPS¹ included an estimated $0.10 per share related to the dilutive impact of our convertible notes and related warrants in the period. Adjusted EBITDA¹ for 2024 was $452 million, an increase of 6% compared to 2023.

Balance Sheet, Cash Flow and Capital Allocation

Cash provided by operations for full year 2024 was $327 million compared to $409 million in 2023, primarily due to increasing our inventories in the fourth quarter of 2024 to ensure we are in the best position to support our customer’s needs in anticipation of a RV demand recovery in 2025. Purchases of property, plant and equipment for full year 2024 totaled $76 million, up from $59 million in 2023, reflecting continued investments in automation and technology initiatives. For the full year 2024, business acquisitions totaled $412 million, primarily related to the acquisition of Sportech in the first quarter and RecPro during the third quarter. Free cash flow¹ in 2024 was $251 million compared to $350 million in 2023. 

In alignment with our capital allocation strategy, we returned $18 million to shareholders in the fourth quarter of 2024, consisting of $5 million in opportunistic repurchases of approximately 60,000 shares and $13 million in cash dividends. For the full year, we returned $55 million to shareholders including $50 million in cash dividends to our shareholders and $5 million in opportunistic share repurchases.

Our total debt at the end of the fourth quarter of 2024 was approximately $1.3 billion, resulting in a total net leverage ratio of 2.7x (as calculated in accordance with our credit agreement). Available liquidity, comprised of borrowing availability under our senior credit facility and cash on hand, was approximately $804 million.

Business Outlook and Summary

“We see significant opportunity across the Outdoor Enthusiast space and are optimistic about the long-term growth potential of our company and the markets we serve,” continued Mr. Nemeth. “We have continued to make strategic investments in our business, including our automation initiatives and the creation of our Advanced Product Group, which highlights our commitment to forward-looking innovation and delivering cutting-edge product solutions to our customers. As we enter 2025, we remain nimble and well-positioned to support our markets and the scalability needs of our customers.  We have utilized our cash flows to invest in inventory in anticipation of potential increased production levels in our RV markets, and have also focused on retaining key talent and resources in anticipation of our end markets improving. Looking ahead, we are optimistic about our end markets, favorable demographic trends, the earnings power of our business, our strong balance sheet and cash flow, and the unwavering commitment of our team members who are key to our continued momentum in 2025.”

Quarterly Cash Dividend

On February 3, 2025, the Company’s Board of Directors declared a quarterly cash dividend of $0.40 per share of common stock. The dividend is payable on March 3, 2025, to shareholders of record at the close of business on February 18, 2025.

Conference Call Webcast

As previously announced, Patrick Industries will host an online webcast of its fourth quarter 2024 earnings conference call that can be accessed on the Company’s website, www.patrickind.com, under “For Investors,” on Thursday, February 6, 2025 at 10:00 a.m. Eastern time. In addition, a supplemental earnings presentation can be accessed on the Company’s website, www.patrickind.com under “For Investors.”

The post Patrick Industries Q4, Full-Year Report Shows Higher Sales first appeared on RVBusiness - Breaking RV Industry News.

“RVing in New England,” the weekly Facebook Live show hosted by Bob Zagami and John DiPietro of the New England RV Dealers Association (NERVDA), this week discusses the technical side of RVing with Chris Dougherty, Ryan Hadley and Randy Murray.

“Douglas Sandberg is credited with this great sales line:  ‘Sales Sells the First One, Service Sells All the Rest.’  We are doing something different tonight with three members of our Technical Advisory Board – From Top to Bottom we have Chris Dougherty, Ryan Hadley and Randy Murray.  All familiar faces and they are among the elite Technical Service Experts in our industry.  And we are not going to talk a lot about “service,” notes a promotional email from the show.

Tonight’s show airs at 7 p.m. ET.

The post ‘RVing in New England’ Features ‘Trio of Trusted Technicians’ first appeared on RVBusiness - Breaking RV Industry News.

The Headrest Safe Company, LLC, innovators of the “ultimate discreet vehicle safe storage system” and winner of the 2024 NRA Golden Bullseye Award, announced it has partnered with GWN Marketing to provide aftermarket RV sales and support specifically for the Canadian market, according to a company release.

“We couldn’t be more pleased with this new partnership,” said Louis Tuck, COO/CFO, The Headrest Safe Company, LLC. “GWN Marketing has been in the RV space since 2011 and has many years of combined experience in manufacturing, sales/service, training, and distribution. This is just one of the key partnerships we have made to elevate brand awareness and sales in the Canadian RV market.”

Based in British Columbia, Canada, GWN Marketing is a manufacturers representation firm dedicated to increasing sales in the Canadian RV aftermarket and OEMs. They provide sales and marketing programs designed specifically for Canada, extensive product training and unwavering product support. They visit dealerships, distributors and OE’s regularly to ensure proper inventory and product placement to maximize exposure and sales. Their focus is on creating healthy dealerships throughout the country.

“GWN Marketing Inc. is proud of our most recent partnership with The Headrest Safe Company,” said Wayne Mitchell, Founder & Vice President, GWN Marketing. “We will be servicing both the aftermarket and OE spaces in Canada for this industry-leading vehicle safe.”

For more information on GWN Marketing and the services they provide, visit www.gwnmarketing.ca.

For more information about The Headrest Safe Company, LLC. and all their products, visit: www.theheadrestsafe.com and follow them on Facebook, Instagram and Twitter.

The post Headrest Safe Co. Eyes RV Aftermarket Sales in Canada first appeared on RVBusiness - Breaking RV Industry News.