Financial Data and Key Metrics Changes - Consolidated net sales for Q2 2020 decreased 16% to $526 million compared to the prior year, primarily due to temporary production shutdowns related to COVID-19 [40][41] - GAAP net income for Q2 2020 was $13.2 million or $0.52 per share, down from $47.5 million or $1.89 per share in Q2 2019 [51] - Adjusted EBITDA decreased 46% to $45.6 million for the quarter, driven by weaker demand and production shutdowns [50] Business Line Data and Key Metrics Changes - RV OEM sales were down 38% year-over-year to $237 million, but retail demand rebounded with RV sales in June up 17% year-over-year [12][41] - Aftermarket segment sales increased 109% to $158 million, primarily due to the acquisition of CURT Group [20][46] - International sales rose 40% to $44 million, driven by the acquisition of Polyplastic and increased demand for acrylic products [23][46] Market Data and Key Metrics Changes - North American RV sales declined 99% year-over-year in April but recovered with a 17% increase in June [41] - Sales to adjacent markets declined 23% to $131 million, with North American adjacent industries down 30% while international adjacent industries increased 67% [44][46] - The demand for RVs and boats has surged as consumers seek safe outdoor activities, with 46 million Americans likely to take an RV road trip in the next 12 months [11][12] Company Strategy and Development Direction - The company aims to have adjacent, aftermarket, and international markets account for 60% of total revenue by 2022, currently at over 48% [16] - Continued focus on product innovation and operational excellence to drive growth and efficiency [32][48] - The company is exploring small and strategic tuck-in acquisitions while prioritizing integration and debt reduction [37][99] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the long-term fundamentals of the RV and boating industries, anticipating sustained demand due to changing consumer preferences [9][11] - The company has successfully ramped production above pre-COVID levels since late May, showcasing agility in operations [26][27] - Management highlighted the importance of maintaining strong communication and leadership during the pandemic to navigate challenges effectively [28][29] Other Important Information - The company has implemented enhanced safety protocols across manufacturing sites to protect team members [26] - Cash and cash equivalents totaled $62 million at the end of Q2 2020, up from $35 million at the beginning of the year [52] - The company is targeting capital expenditures between $40 million and $50 million for the full year 2020 [53] Q&A Session Summary Question: How should we think through Q3 EBIT margin? - Management expects gross margins to be around 25% to 26% for Q3, driven by labor efficiencies and operating leverage [57] Question: Is the incremental demand sustainable? - Management believes the current demand is sustainable due to limited travel options and a shift in consumer behavior towards RVs [58] Question: What are the trends in July? - Company-wide sales were up over 50% in July, with RV segment sales up 17% [64] Question: What are the expectations for industry capacity? - Management noted that supply chain and labor are current bottlenecks, but the industry is expected to adapt and increase capacity [70][72] Question: What is the status of the CURT Group? - The CURT business is performing well, with significant growth in both towing products and truck accessories [88] Question: How is the used inventory environment? - There is a lack of used products available due to a shift towards first-time buyers, resulting in minimal trade-ins [109]

[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)

LCI INDUSTRIES 1 LCI Industries Second Quarter 2020 Earnings Conference Call August 4, 2020 (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 ...

Financial Performance - Net sales for the three months ended March 31, 2020, were $659,670,000, an increase of 11.4% compared to $592,172,000 for the same period in 2019[9] - Gross profit for the same period was $158,605,000, representing a gross margin of 24.0%, compared to $132,594,000 and a gross margin of 22.4% in 2019[9] - Net income decreased to $28,214,000, down 17.7% from $34,366,000 in the prior year, resulting in diluted earnings per share of $1.12[9] - The total operating profit for the Company decreased to $44.27 million in Q1 2020 from $47.76 million in Q1 2019, reflecting a decline of 7.2%[90] - Operating profit for Q1 2020 was $44.3 million, with an operating profit margin of 6.7%, compared to $47.8 million and 8.1% in Q1 2019, primarily due to higher costs from CURT acquisitions[28] - The effective tax rate for Q1 2020 was 27.8%, up from 24.0% in Q1 2019, primarily due to reduced excess tax benefits and increased non-deductible expenses[140] Assets and Liabilities - Total assets increased to $2,051,213,000 as of March 31, 2020, up from $1,862,595,000 at the end of 2019, reflecting a growth of 10.1%[14] - The Company’s total stockholders' equity increased to $807,803,000 as of March 31, 2020, compared to $800,672,000 at the end of 2019[14] - Long-term indebtedness rose to $750,519,000 as of March 31, 2020, from $612,906,000 at December 31, 2019[49] - The company had cash and cash equivalents of $97,999,000 at the end of the period, a substantial increase from $14,317,000 at the end of the previous year[17] - The liability for contingent consideration related to acquisitions increased to $7.333 million as of March 31, 2020, from $4.396 million at the beginning of the period, indicating a growth of approximately 66%[64] Cash Flow - The company reported a net cash flow from operating activities of $44,759,000, down from $52,585,000 in the same quarter of the previous year[17] - Cash flows from operating activities were $44.8 million in Q1 2020, down from $52.6 million in Q1 2019, mainly due to a decrease in net income[142] - Cash flows used in investing activities totaled $101.7 million in Q1 2020, primarily for business acquisitions of $95.8 million[145] Acquisitions - The Company acquired Polyplastic Group B.V. for $95.8 million, with contingent consideration of up to $7.7 million based on future sales[34] - The acquisition of CURT Acquisition Holdings, Inc. was completed for $337.6 million, with adjustments related to net working capital expected to be immaterial[35] - The total fair value of net assets acquired in the recent acquisition was $24,331,000, with goodwill recorded at $18,893,000[40] - Goodwill increased to $399,360,000 as of March 31, 2020, from $351,114,000 on December 31, 2019, reflecting acquisitions and adjustments[41] - The acquisition of Lewmar Marine Ltd. was recorded at a purchase price of $43.2 million, net of cash acquired, and included in both OEM and Aftermarket Segments[38] COVID-19 Impact - The Company temporarily suspended production at select facilities due to COVID-19, implementing cost-saving measures including salary reductions and workforce adjustments[27] - Operations resumed on May 4, 2020, although the Company expects ongoing negative impacts from the COVID-19 pandemic on its financial results[28] - The Company experienced a decline in retail sales in the RV industry due to the COVID-19 pandemic, following a period of positive growth prior to mid-March 2020[109] - The company has not experienced significant supply chain disruptions due to COVID-19 but is monitoring suppliers closely, having increased inventory levels to mitigate risks[113] Inventory and Fixed Assets - Inventories decreased to $350,514,000 as of March 31, 2020, down from $393,607,000 at December 31, 2019[44] - Fixed assets net value increased to $372,113,000 as of March 31, 2020, compared to $366,309,000 at December 31, 2019[45] - Other intangible assets totaled $513.084 million as of March 31, 2020, with customer relationships valued at $268.605 million[42] Dividends and Shareholder Equity - Cash dividends paid were $16,321,000, reflecting a dividend of $0.65 per share[19] - The Company declared a quarterly dividend of $0.65 per share for the first quarter of 2020, totaling $16.321 million paid out[74] - The Company’s outstanding stock units increased to 354,027 as of March 31, 2020, from 346,148 at December 31, 2019[76] Market and Sales Trends - The OEM Segment accounted for 81% of consolidated net sales in Q1 2020, with net sales of $532.36 million, compared to $531.78 million in Q1 2019[86][90] - The Aftermarket Segment saw a significant increase in net sales, rising to $127.31 million in Q1 2020 from $60.39 million in Q1 2019, representing a growth of 110.5%[87][90] - The Aftermarket Segment is expected to improve ahead of the OEM channels as government restrictions are lifted and consumer demand for service increases[110] - Retail demand for RVs and boats may see a positive impact post-COVID-19, as interest rates and fuel prices remain low, potentially leading to safer vacation alternatives[112]

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, 2019 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) Delaware 13-3250533 (State or other jurisdiction of (I ...

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, 2019 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 1 ...

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: June 30, 2019 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 13-325 ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION 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) 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, 2019 Delaware 13-32 ...

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, 2018 ☐ 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 (Exact name of registrant as specified in its charter) Delaware 13-3250533 (State or other jurisdiction of (I.R.S. Employer incorp ...