Financial Data and Key Metrics Changes - Total revenue for Q2 2024 was $1.1 billion, a 4% increase year-over-year, with EBITDA rising nearly 40% and margins expanding by over 300 basis points [3][25][29] - Gross margins improved to 25.3% from 21.5% in the prior year, driven by lower inbound freight and better fixed cost absorption [28] - GAAP net income for Q2 2024 was $61.2 million, or $2.40 per diluted share, compared to $33.4 million, or $1.31 per diluted share in Q2 2023 [29] Business Line Data and Key Metrics Changes - RV OEM net sales increased by 20% to $490 million, driven by a 15% increase in North American travel trailer and fifth-wheel wholesale shipments [25][27] - Aftermarket net sales were $258 million, up 1% year-over-year, with operating margins in the aftermarket segment increasing approximately 120 basis points [12][27] - Adjacent Industries OEM net sales decreased by 12% to $306 million, primarily due to lower sales in North American marine and utilities trailer OEMs [26][27] Market Data and Key Metrics Changes - North American marine OEM net sales were down 33% year-over-year, reflecting ongoing softness in the marine retail environment [27][15] - International sales were down slightly by 1% year-over-year, with performance in Europe remaining strong [27][18] Company Strategy and Development Direction - The company is focused on a diversification strategy that has expanded its reach into attractive markets, including transportation, residential building products, and marine [4][11] - Continuous improvement initiatives have led to over 25,000 projects completed in 2024, enhancing operational efficiencies and quality [6] - The company plans to continue strategic acquisitions and return capital to shareholders while investing in R&D and innovation [23][24] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the RV market's resilience despite current softness in retail demand, anticipating a gradual recovery [10][35] - The company expects RV wholesale shipments to range between 315,000 to 325,000 units for the year, adjusting for current market conditions [31] - Management highlighted the importance of innovation and strong customer relationships as key drivers for future growth [11][12] Other Important Information - The company has reduced its net inventory balance to $688 million, down from $768 million at the end of 2023 [30] - The company anticipates capital expenditures in the range of $40 million to $60 million for the year, reflecting a cautious approach in the current environment [32][65] Q&A Session Summary Question: Can you discuss the deceleration from the trends seen in July? - Management noted that the favorable comparisons in July were due to last year's extended shutdowns, and they expect a slowdown in August and September due to planned shutdowns [33][34] Question: What are the expectations for RV model year '25 conversion? - Management indicated that while they are loading up on content, they expect lower volume in the back half of the year due to current market conditions [35] Question: How do you see organic content growth in towables? - Management confirmed that organic content growth has been around 1% recently, with expectations to improve as new products are introduced [38][39] Question: What is the outlook for marine inventory levels? - Management expects continued destocking in the marine sector, with normalization anticipated by the spring selling season next year [46][47] Question: Can you discuss the M&A pipeline and capital allocation? - Management confirmed a robust M&A pipeline with several opportunities being evaluated, while maintaining a focus on a strong balance sheet [48][49]

LCI (LCII) came out with quarterly earnings of $2.40 per share, beating the Zacks Consensus Estimate of $2.29 per share. This compares to earnings of $1.31 per share a year ago. These figures are adjusted for non-recurring items. This quarterly report represents an earnings surprise of 4.80%. A quarter ago, it was expected that this recreational vehicle parts supplier would post earnings of $0.54 per share when it actually produced earnings of $1.44, delivering a surprise of 166.67%. Over the last four quar ...

Estimate revisions ahead of a company's earnings release offer clues to the business conditions for the period whose results are coming out. This insight is at the core of our proprietary surprise prediction model -- the Zacks Earnings ESP (Expected Surprise Prediction). How Have the Numbers Shaped Up for LCI? Does Earnings Surprise History Hold Any Clue? Bottom Line An Industry Player's Expected Results Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar. Revenues are expected t ...

Investors seek growth stocks to capitalize on above-average growth in financials that help these securities grab the market's attention and produce exceptional returns. But finding a growth stock that can live up to its true potential can be a tough task.That's because, these stocks usually carry above-average risk and volatility. In fact, betting on a stock for which the growth story is actually over or nearing its end could lead to significant loss.However, it's pretty easy to find cutting-edge growth sto ...

(Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended: March 31, 2024 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q For the transition period from _________________ to _________________ Commission File Number: 001-13646 LCI INDUSTRIES (Exact name of registrant as specified in its charter) Delaware 13-32 ...

LCI (LCII) came out with quarterly earnings of $1.44 per share, beating the Zacks Consensus Estimate of $0.54 per share. This compares to earnings of $0.29 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 166.67%. A quarter ago, it was expected that this recreational vehicle parts supplier would post a loss of $0.11 per share when it actually produced a loss of $0.09, delivering a surprise of 18.18%.Over the last four quarters, ...

Exhibit 99.1 FOR IMMEDIATE RELEASE Contact: Lillian D. Etzkorn, CFO Phone: (574) 535-1125 E Mail: LCII@lci1.com LCI INDUSTRIES REPORTS FIRST QUARTER FINANCIAL RESULTS Robust margin expansion supported by performance of diversified businesses and consistent operational execution First Quarter 2024 Highlights Elkhart, Indiana - May 8, 2024 - LCI Industries (NYSE: LCII) which, through its wholly-owned subsidiary, Lippert Components, Inc. ("Lippert"), supplies, domestically and internationally, a broad array of ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K (Mark One) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2023 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from _________________ to _________________ Commission File Number 001-13646 LCI INDUSTRIES (Exact name of registrant as specified in its charter) (State or other juris ...

Financial Data and Key Metrics Changes - The company reported a revenue of $3.8 billion for 2023, a decline from $5.2 billion in 2022, primarily due to lower RV and marine industry production levels [31][49] - The gross margin improved to 19.2% compared to 16.4% in the prior year, driven by a positive mix and lower sales volume [76][100] - Operating cash flow was strong at $527 million in 2023, with a net debt position of $781 million, representing 2.7 times pro forma EBITDA [46][78] Business Line Data and Key Metrics Changes - Sales to North American RV OEMs decreased by 47% to $1.5 billion, while sales in North American adjacent markets decreased by 8% to $1.1 billion [77] - Aftermarket net sales were $881 million for the year, down 1% compared to 2022, but up 10% in Q4 2023 [37][50] - Content per total RV decreased to $5,058, while content per motorhome RV was $3,506, reflecting index pricing reductions [33][98] Market Data and Key Metrics Changes - International sales increased by 4% year-over-year, driven by decreased supply chain headwinds abroad [67][99] - Marine production dropped sharply in Q4 2023, with expectations of continued softness into the next two quarters of 2024 [39][53] - The company anticipates a decline in marine sales for the year, while RV orders showed an increase in February [53][65] Company Strategy and Development Direction - The company has diversified beyond recreational vehicles into transportation vehicles, marine, automotive, and residential markets, achieving nearly 50% revenue growth in new markets over the past five years [31][32] - A new joint venture, Amerimax for Mobility, was established to enhance product offerings in the RV sector [36] - The company is focused on operational improvements and cost optimization to support long-term profitability [32][72] Management's Comments on Operating Environment and Future Outlook - Management acknowledged the challenges in the RV and marine industries but expressed confidence in the company's ability to weather these challenges and capitalize on growth opportunities [31][56] - The company expects to see organic content growth of 3% to 6% in the RV sector, driven by new product launches and market share gains [113][139] - Management highlighted the importance of innovation and R&D investments to maintain competitive advantages [68][70] Other Important Information - The company completed 20,000 continuous improvement projects in 2023, enhancing its manufacturing efficiency [32] - The company returned $106 million to shareholders in the form of dividends in 2023 [52] - The company has a strong focus on community engagement, with 75% of its workforce participating in service events [71] Q&A Session Summary Question: Can you clarify the impact of index pricing on content? - Management noted that index pricing significantly impacted content per unit, with a mid-teens percentage give-back effect observed [83][120] Question: What are the expectations for profitability in Q1? - Management expects profitability to be lower than the previous year's first quarter due to marine softness, but RV production is anticipated to improve [84][91] Question: How is the marine market performing? - The marine market is experiencing a significant decline, with production down 40% to 50% compared to the previous year [112] Question: What are the expectations for content growth in 2024? - Management anticipates positive organic content growth of 3% to 6% for the year, despite pricing headwinds in the first half [113][139] Question: Can you provide insights on the new glass and acrylic factory? - The factory is targeting multiple markets, including residential and commercial, with a focus on innovative glass products [114][116]

Financial Performance - Net sales for Q3 2023 were $959.3 million, a decrease of 15.3% compared to $1,132.1 million in Q3 2022[9] - Gross profit for Q3 2023 was $210.9 million, down 16.6% from $253.1 million in Q3 2022[9] - Operating profit decreased to $45.6 million in Q3 2023, a decline of 47.9% from $87.6 million in Q3 2022[9] - Net income for Q3 2023 was $25.9 million, a significant drop of 57.7% compared to $61.4 million in Q3 2022[9] - Total net sales for the nine months ended September 30, 2023, were $2.95 billion, a decrease from $4.31 billion in the same period of 2022, representing a decline of approximately 31%[74] - Net income for the nine months ended September 30, 2023, was $66,572,000, a decrease of 83.8% compared to $412,103,000 in the same period of 2022[16] Assets and Liabilities - Total assets as of September 30, 2023, were $3,033.8 million, down from $3,246.9 million at the end of 2022[14] - Cash and cash equivalents decreased to $31.2 million from $47.5 million at the end of 2022[14] - Long-term indebtedness as of September 30, 2023, was $908.245 million, a decrease from $1,095.888 million as of December 31, 2022[45] - The balance of retained earnings as of September 30, 2023, was $1,206,525,000, down from $1,221,279,000 at December 31, 2022[21] - Current assets decreased to $1.23 billion as of September 30, 2023, from $1.39 billion at the end of 2022[14] Cash Flow and Capital Expenditures - Net cash flows provided by operating activities for the nine months ended September 30, 2023, were $389.3 million, compared to $485.5 million for the same period in 2022[16] - Capital expenditures for the nine months ended September 30, 2023, were $50.1 million, down from $103.7 million in 2022[16] - Cash flows used in financing activities were $333.4 million in the first nine months of 2023, primarily due to net repayments under the revolving credit facility and dividend payments[128] Dividends and Stock - Cash dividends paid were $26,590,000 for the quarter ending September 30, 2023, maintaining a consistent dividend of $1.05 per share[21] - The Company declared total dividends of $79.744 million for the year 2023, with a per share dividend of $1.05 for each quarter[65] - The total dividends paid in 2023 amounted to $79,744 thousand, with a per share dividend of $3.15, compared to $102,726 thousand in 2022 with a per share dividend of $4.05[65] Segment Performance - For the nine months ended September 30, 2023, the OEM Segment accounted for 76% of consolidated net sales, down from 83% in the same period of 2022[71] - The Aftermarket Segment's net sales increased to 24% of consolidated net sales for the nine months ended September 30, 2023, up from 17% in the same period of 2022[72] - The OEM Segment's net sales for travel trailers and fifth-wheel RVs were $1.03 billion for the nine months ended September 30, 2023, compared to $2.26 billion in the same period of 2022, a decrease of approximately 54%[74] - Aftermarket Segment net sales for Q3 2023 increased by $11.2 million to $230.8 million, a 5% increase compared to Q3 2022[110] Inventory and Goodwill - The Company recorded inventories of $791.884 million as of September 30, 2023, down from $1,029.705 million as of December 31, 2022, reflecting a decrease of approximately 23%[39] - The net balance of goodwill as of September 30, 2023, was $579.912 million, up from $567.063 million as of December 31, 2022[37] - The Company has recorded a decrease in raw materials inventory to $484.3 million as of September 30, 2023, down from $600.6 million at the end of 2022[39] Economic Conditions and Risks - The Company noted that negative economic conditions, including inflation and interest rate fluctuations, could continue to impact its business and financial results[28] - The company is exposed to market risks related to changes in raw material prices, particularly steel and aluminum, which could impact future profitability[145] Compliance and Financial Covenants - The Company was in compliance with all financial covenants as of September 30, 2023[57] - The maximum net leverage ratio covenant limits the amount of consolidated outstanding indebtedness based on trailing twelve-month EBITDA[58]