Two big names in the Indiana RV industry are included on a national list for growth. The Fortune Fastest-Growing Companies top 100 class is ranked based on criteria including annual revenue growth and earnings per share over the last three years. Patrick Industries Inc. (Nasdaq: PATK) and Drew Industries Inc. (NYSE: DW), both based in Elkhart, have ridden the RV industry’s resurgence and announced several acquisitions.
Indiana Automotive Council Director Matt Conrad says the return of the sector has created work force and training challenges.
Companies included on the Fortune list have a minimum market capitalization of $250 million and a stock price of at least $5 per share on June 30. They’re ranked by revenue growth rate, EPS growth rate and three-year annualized total return by the midpoint of the year.
Zacks Investment Research provided data for the rankings.
Elkhart-based Patrick Industries Inc. (Nasdaq: PATK) came in 41st this year, up one spot from the 2015 list. It’s total three-year return of 63 percent was seventh among all companies in the top 100. The company has been on a streak of acquisitions in recent years and in a quarterly earnings report last month, announced it had completed the addition of two Hoosier businesses and was in the process with another.
New to the list at number 79 is Elkhart-based Drew Industries Inc. (NYSE: DW). The company is in the top third of total three-year return at 30 percent. Drew Industries has also been on a growth spurt and last month announced a second quarter net income of $37.6 million, up from $20.9 million in the same quarter a year earlier.
You can connect to the 30th edition of the Fortune Fastest-Growing companies list by clicking here.
Indiana Automotive Council Director Matt Conrad says the return of the sector has created challenges for finding and training the work force.