LCI Industries (NYSE:LCII) Q1 2021 Earnings Conference Call May 4, 2021 8:30 AM ET Company Participants Brian Hall - Chief Financial Officer Jason Lippert - President, CEO and Director Conference Call Participants Kathryn Thompson - Thompson Research Daniel Moore - CGS Securities Fred Wightman - Wolfe Research Scott Stember - CL King Bret Jordan - Jefferies Steve O'Hara - Sidoti Shawn Collins - Citigroup Research Operator Welcome to the Q1 2021 LCI Industries Earnings Conference Call [Operator Instructions] ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (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, 2021 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) Delaware 13-32 ...

LCI INDUSTRIES 1 LCI Industries First Quarter 2021 Earnings Conference Call May 4, 2021 (LCG LCI INDUSTRIES Forward-Looking Statements and Non-GAAP Financial Measures 2 This presentation contains certain "forward-looking statements" with respect to our financial condition, results of operations, business strategies, operating efficiencies or synergies, competitive position, growth opportunities, acquisitions, plans and objectives of management, markets for the Company's common stock, the impact of legal pro ...

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, 2020 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from _________________ to _________________ LCI INDUSTRIES (Exact name of registrant as specified in its charter) (State or other jurisdiction of (I.R.S. Employer incor ...

LCI Industries, Inc. (NYSE:LCII) Q4 2020 Earnings Conference Call February 9, 2021 8:30 AM ET Company Participants Victoria Sivrais - Investor Relations, Clermont Partners Jason Lippert - President, CEO and Director Brian Hall - Executive Vice President and CFO Conference Call Participants Scott Stember - C.L. King Brian Biros - Thompson Research Group Fred Wightman - Wolfe Research Daniel Moore - CJS Securities Craig Kennison - Baird Bret Jordan - Jefferies Shawn Collins - Citigroup Steve O'Hara - Sidoti & ...

Financial Highlights - LCI Industries achieved a record annual revenue of $2.8 billion in 2020[7] - Non-RV revenues accounted for over 50% of total net revenue in FY 2020, marking a milestone in diversification[7] - The company returned $70.4 million to shareholders through dividends[7] RV OEM Segment - Q4 2020 RV OEM revenues increased by 29% year-over-year, while wholesale shipments rose by 38%[10] - Full year 2020 RV OEM revenues increased by 3% year-over-year, with wholesale shipments up by 9%[10] - Content per towable RV was $3,390, a 1% increase year-over-year, while content per motorhome was $2,479, an 8% increase year-over-year[10] Expanding Markets - Adjacent OEM sales increased by 20% year-over-year in Q4 2020[12] - Aftermarket segment sales increased by 129% year-over-year in Q4 2020[12] - International markets sales increased by 60% year-over-year in Q4 2020[12] Liquidity and Cash Flow - The company's cash and cash equivalents stood at $51.8 million as of December 31, 2020[23]

LCI Industries (NYSE:LCII) Q3 2020 Results Earnings Conference Call November 2, 2020 8:30 AM ET Company Participants Victoria Sivrais - Clermont Partners Jason Lippert - President and Chief Executive Officer Brian Hall - Executive Vice President and Chief Financial Officer Conference Call Participants Scott Stember - C.L.King Kathryn Thompson - Thompson Research Daniel Moore - CJS Securities Fred Wightman - Wolfe Research Mark Jordan - Jefferies Alice Wycklendt - Baird Shawn Collins - Citigroup Steve O'Hara ...

For the transition period from _________________ to _________________ Commission File Number: 001-13646 UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended: September 30, 2020 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 LCI INDUSTRIES (Exact name of registrant as specified in its charter) Delaware 1 ...

LCI Industries (NYSE:LCII) Q2 2020 Earnings Conference Call August 4, 2020 8:00 AM ET Company Participants Victoria Sivrais - Investor Relations Jason Lippert - President and Chief Executive Officer Brian Hall - Executive Vice President and Chief Financial Officer Conference Call Participants Craig Kennison - Baird Brian Biros - Thompson Research Group Scott Stember - C.L. King & Associates Fred Wightman - Wolfe Research Mark Jordan - Jefferies Shawn Collins - Citigroup Brandon Rolle - Northcoast Research ...

[PART I – FINANCIAL INFORMATION](index=4&type=section&id=PART%20I%20%E2%80%93%20FINANCIAL%20INFORMATION) [Financial Statements](index=4&type=section&id=ITEM%201%20%E2%80%93%20FINANCIAL%20STATEMENTS) The company's Q2 and H1 2020 financial performance was significantly impacted by COVID-19, resulting in substantial declines in net sales and income, while acquisitions increased assets and operating cash flow decreased Condensed Consolidated Statements of Income (Unaudited) | (In thousands, except per share amounts) | Three Months Ended June 30, 2020 | Three Months Ended June 30, 2019 | Six Months Ended June 30, 2020 | Six Months Ended June 30, 2019 | | :--- | :--- | :--- | :--- | :--- | | **Net sales** | $525,765 | $629,068 | $1,185,435 | $1,221,240 | | **Operating profit** | $20,782 | $65,657 | $65,048 | $113,412 | | **Net income** | $13,186 | $47,527 | $41,400 | $81,893 | | **Diluted EPS** | $0.52 | $1.89 | $1.64 | $3.28 | Condensed Consolidated Balance Sheets (Unaudited) | (In thousands) | June 30, 2020 | December 31, 2019 | | :--- | :--- | :--- | | **Total current assets** | $697,291 | $670,791 | | **Total assets** | $2,018,274 | $1,862,595 | | **Total current liabilities** | $309,871 | $271,258 | | **Total liabilities** | $1,201,644 | $1,061,923 | | **Total stockholders' equity** | $816,630 | $800,672 | Condensed Consolidated Statements of Cash Flows (Unaudited) | (In thousands) | Six Months Ended June 30, 2020 | Six Months Ended June 30, 2019 | | :--- | :--- | :--- | | **Net cash flows provided by operating activities** | $102,101 | $180,115 | | **Net cash flows used in investing activities** | ($105,166) | ($44,065) | | **Net cash flows provided by (used in) financing activities** | $32,093 | ($88,500) | | **Net increase in cash and cash equivalents** | $26,913 | $45,732 | [Notes to Condensed Consolidated Financial Statements](index=10&type=section&id=NOTES%20TO%20CONDENSED%20CONSOLIDATED%20FINANCIAL%20STATEMENTS) Notes detail significant impacts of COVID-19, recent acquisitions, and accounting policy changes, including debt structure amendments and a notable shift in segment sales mix - In January 2020, the Company acquired Polyplastic Group B.V. for a purchase price of **$95.8 million**, net of cash acquired, plus potential contingent consideration, adding **$57.7 million** in goodwill[38](index=38&type=chunk) - Measurement period adjustments for the December 2019 CURT acquisition resulted in a **$14.5 million** decrease in the fair value of net assets acquired and a corresponding increase in goodwill to **$116.4 million**[41](index=41&type=chunk) - Goodwill increased from **$351.1 million** at year-end 2019 to **$418.8 million** at June 30, 2020, primarily due to the Polyplastic acquisition and measurement period adjustments for CURT[45](index=45&type=chunk) - Following the termination of the Furrion supply agreement, the company holds a **$52.0 million** receivable from Furrion, with **$34.7 million** reclassified as long-term and discounted due to renegotiated payment terms impacted by COVID-19[72](index=72&type=chunk)[114](index=114&type=chunk) Segment Net Sales Contribution (Six Months Ended June 30) | Segment | 2020 % of Total Sales | 2019 % of Total Sales | | :--- | :--- | :--- | | OEM Segment | 76% | 89% | | Aftermarket Segment | 24% | 11% | [Management's Discussion and Analysis of Financial Condition and Results of Operations (MD&A)](index=29&type=section&id=ITEM%202%20%E2%80%93%20MANAGEMENT%27S%20DISCUSSION%20AND%20ANALYSIS%20OF%20FINANCIAL%20CONDITION%20AND%20RESULTS%20OF%20OPERATIONS) MD&A details the significant operational and financial impacts of COVID-19, including temporary shutdowns and a June rebound, alongside the Furrion agreement termination, Q2 sales declines, margin compression, and liquidity management [Impact of COVID-19](index=29&type=section&id=IMPACT%20OF%20COVID-19) COVID-19 led to temporary production suspensions and cost-saving measures, followed by a sharp rebound in demand and operations by Q2 end, with the company drawing on credit for liquidity - The company temporarily suspended production at select manufacturing facilities across North America and Europe starting March 25, 2020, due to government mandates and customer closures[100](index=100&type=chunk)[102](index=102&type=chunk) - Cost-saving measures included temporary executive salary reductions, furloughs, delayed capital expenses, and postponing merit increases[103](index=103&type=chunk) - Operations resumed for most facilities on May 4, 2020, with a sharp rebound in retail demand for RV and marine markets leading to a record sales month in June[104](index=104&type=chunk)[108](index=108&type=chunk) - To improve financial flexibility, the company drew on its revolving credit facility in March and April 2020, but made net repayments of approximately **$62 million** in Q2 as operating cash flow improved[111](index=111&type=chunk) [Results of Operations](index=35&type=section&id=RESULTS%20OF%20OPERATIONS) Q2 2020 consolidated net sales and income declined significantly, primarily due to a substantial drop in OEM segment sales, while the Aftermarket segment grew due to acquisitions, impacting overall operating margins and the effective tax rate Q2 2020 Consolidated Highlights vs. Q2 2019 | Metric | Q2 2020 | Q2 2019 | Change | | :--- | :--- | :--- | :--- | | Net Sales | $525.8M | $629.1M | -16% | | Operating Profit | $20.8M | $65.7M | -68% | | Operating Margin | 4.0% | 10.4% | -6.4 p.p. | | Net Income | $13.2M | $47.5M | -72% | Q2 2020 Segment Performance vs. Q2 2019 | Segment | Net Sales | % Change | Operating Profit | % Change | Operating Margin | | :--- | :--- | :--- | :--- | :--- | :--- | | **OEM** | $367.8M | -34% | $1.8M | -96% | 0.5% | | **Aftermarket** | $158.0M | +109% | $19.0M | +46% | 12.0% | - The increase in Aftermarket segment sales was primarily due to acquisitions contributing approximately **$78.3 million** in sales for the quarter[140](index=140&type=chunk) - The effective tax rate for the first six months of 2020 was **26.3%**, up from **24.7%** in 2019, mainly due to reduced excess tax benefits from equity awards and an increase in non-deductible expenses[146](index=146&type=chunk) [Liquidity and Capital Resources](index=40&type=section&id=LIQUIDITY%20AND%20CAPITAL%20RESOURCES) For H1 2020, net cash from operations decreased, while investing activities increased due to acquisitions, and financing activities provided cash through net borrowings, with the company confident in its liquidity for the next twelve months Cash Flow Summary (Six Months Ended June 30) | (In thousands) | 2020 | 2019 | | :--- | :--- | :--- | | Net cash flows provided by operating activities | $102,101 | $180,115 | | Net cash flows used in investing activities | ($105,166) | ($44,065) | | Net cash flows provided by (used in) financing activities | $32,093 | ($88,500) | - Cash used in investing activities included **$94.7 million** for business acquisitions and **$14.5 million** for capital expenditures in the first six months of 2020[151](index=151&type=chunk) - Financing activities included **$79.2 million** in net borrowings under the revolving credit facility and **$32.7 million** in dividend payments during the first half of 2020[155](index=155&type=chunk) - The company has a contingent consideration liability of **$5.8 million** at June 30, 2020, related to past acquisitions[157](index=157&type=chunk) [Quantitative and Qualitative Disclosures About Market Risk](index=45&type=section&id=ITEM%203%20%E2%80%93%20QUANTITATIVE%20AND%20QUALITATIVE%20DISCLOSURES%20ABOUT%20MARKET%20RISK) The company faces market risk from variable interest rates and volatile raw material prices, historically offsetting cost increases through price adjustments, though future assurance is not guaranteed - The company is exposed to market risk from variable interest rates on its debt and price fluctuations of raw materials like steel and aluminum[172](index=172&type=chunk)[173](index=173&type=chunk) - The company has historically passed on a majority of raw material cost increases to customers through price adjustments, but cannot guarantee this will continue in the future[174](index=174&type=chunk) [Controls and Procedures](index=45&type=section&id=ITEM%204%20%E2%80%93%20CONTROLS%20AND%20PROCEDURES) Management concluded disclosure controls were effective as of June 30, 2020, with no material changes to internal controls, while continuing a multi-year ERP system implementation - The CEO and CFO concluded that the company's disclosure controls and procedures were effective as of June 30, 2020[178](index=178&type=chunk) - No material changes were made to the internal control over financial reporting during the second quarter of 2020[178](index=178&type=chunk) - The company is continuing the implementation of a new ERP system, which is now live at 35 locations[179](index=179&type=chunk) [PART II – OTHER INFORMATION](index=46&type=section&id=PART%20II%20%E2%80%93%20OTHER%20INFORMATION) [Legal Proceedings](index=46&type=section&id=ITEM%201%20%E2%80%93%20LEGAL%20PROCEEDINGS) The company is subject to various legal proceedings, which management believes will not materially impact its financial position or results of operations - Management states that any monetary liability from ongoing legal proceedings, after final disposition and anticipated insurance recoveries, is not expected to be material to the company's financial position[181](index=181&type=chunk) [Risk Factors](index=46&type=section&id=ITEM%201A%20%E2%80%93%20RISK%20FACTORS) A new risk factor details the material and adverse effects of the COVID-19 pandemic, including operational disruptions, financial market volatility, and potential debt covenant breaches, with the ultimate impact remaining highly uncertain - A new risk factor has been added to address the material and adverse effects of the COVID-19 pandemic on the business, financial condition, and results of operations[183](index=183&type=chunk) - Specific risks cited include disruptions to operations, supply chain, and customer demand; increased costs; financial market volatility; and potential breaches of debt covenants[184](index=184&type=chunk)[185](index=185&type=chunk)[187](index=187&type=chunk)[189](index=189&type=chunk) - The ultimate impact of the pandemic is described as highly uncertain and unpredictable, depending on its duration, spread, and the governmental response[193](index=193&type=chunk) [Unregistered Sales of Equity Securities and Use of Proceeds](index=47&type=section&id=ITEM%202%20%E2%80%93%20UNREGISTERED%20SALES%20OF%20EQUITY%20SECURITIES%20AND%20USE%20OF%20PROCEEDS) The company reported no stock repurchase activity during the first six months of 2020, with **$121.3 million** remaining under its share repurchase authorization - There was no stock repurchase activity during the six months ended June 30, 2020[195](index=195&type=chunk) - The company has **$121.3 million** remaining in its share repurchase authorization as of June 30, 2020[195](index=195&type=chunk) [Exhibits](index=48&type=section&id=ITEM%206%20%E2%80%93%20EXHIBITS) This section lists exhibits filed with the Form 10-Q, including CEO and CFO certifications and financial data in Inline XBRL format - The report includes required CEO and CFO certifications under Rules 13a-14(a) and 13a-14(b) (Sections 302 and 906)[199](index=199&type=chunk)