Patrick Industries, Inc. Publishes 2023 Sustainability & Responsibility Report

News provided by

Dec 18, 2023, 16:00 ET

ELKHART, Ind., Dec. 18, 2023 /PRNewswire/ -- Patrick Industries, Inc. (NASDAQ: PATK) ("Patrick" or the "Company"), a leading component solutions provider for the Outdoor Enthusiast and Housing markets, today announced the publication of its 2023 Sustainability & Responsibility Report.

"Sustainability is a commitment to future generations, and at Patrick, we are striving to achieve a vision that encompasses the wellbeing of our people, the conservation of our resources, and the health of our business," said Andy Nemeth, Chief Executive Officer. "As we share our progress in this year's report, we highlight how our collective efforts are laying the groundwork for a more sustainable and responsible future—one that empowers people to make a positive difference across our Company, our customer relationships, and our communities."

The Report includes the following highlights:

Patrick's responsible use and management of materials and energy, including recycling, reclamation, and reuse, and highlights from business units dedicated to driving sustainability in their products and processes;
Expanded data collection to include ten additional business units from our Housing pillar as well as adding distribution and transportation business units, in accordance with the Sustainability Accounting Standards Board (SASB) metrics, while also ensuring data is 100% auditable;
Integrated robust safety protocols achieving a 36% reduction in Total Recordable Incident Rate (TRIR), with 42% of business units achieving zero recordables in 2023;
Reinforced our commitment to serve and uplift our communities while making a meaningful impact on thousands of lives through support and partnership with organizations such as Care Camps, LOGAN Community Resources, Habitat for Humanity, and many other national, state, and local programs;
Increased investment in the professional and personal growth of our team members, delivering over 6,700 hours of leadership and development training; and
Achieved substantial progress in the Company's digital transformation, integrating a range of advanced technologies that empower collaboration, connection, and efficient resource management.

To access the 2023 Sustainability & Responsibility Report, please visit https://patrickind.com/ESG.

About Patrick Industries, Inc.

Patrick Industries (NASDAQ: PATK) is a leading component solutions provider for the RV, Marine and Housing markets. Founded in 1959, Patrick is based in Elkhart, Indiana, employing approximately 10,000 team members throughout the United States.

Forward-Looking Statements

This press release contains certain statements related to future results, our intentions, beliefs and expectations or predictions for the future, which are forward-looking statements as that term is defined in the Private Securities Litigation Reform Act of 1995. Any projections of financial performance or statements concerning expectations as to future developments should not be construed in any manner as a guarantee that such results or developments will, in fact, occur. There can be no assurance that any forward-looking statement will be realized or that actual results will not be significantly different from that set forth in such forward-looking statement. Information about certain risks that could affect our business and cause actual results to differ from those expressed or implied in the forward-looking statements are contained in the section entitled "Risk Factors" in the Company's Annual Report on Form 10-K for the year ended December 31, 2022, and in the Company's Forms 10-Q for subsequent quarterly periods, which are filed with the Securities and Exchange Commission ("SEC") and are available on the SEC's website at www.sec.gov. Each forward-looking statement speaks only as of the date of this press release, and we undertake no obligation to update any forward-looking statement to reflect events or circumstances occurring after the date on which it is made.

SOURCE Patrick Industries, Inc.