LCI Industries(US:LCII)2024-08-06 12:56Financial Performance - Net sales reached $1.1 billion in Q2 2024, a 4% increase year-over-year[6] - Net income increased significantly to $61 million in Q2 2024, up 83% year-over-year[6] - EBITDA for Q2 2024 was $123 million, representing 11.6% of net sales, a 39% increase year-over-year[6] - The company reduced inventory by $142 million compared to Q2 2023[6] Segment Performance - OEM Segment operating margin increased by 390 bps in Q2 2024[6] - Aftermarket Segment operating margin increased by 120 bps in Q2 2024[6] - Aftermarket and adjacent industries accounted for 54% of total company sales in Q2 2024[6] - RV OEM sales increased by 20% year-over-year in Q2 2024[7] Liquidity and Capital Allocation - The company's liquidity position improved, with $130 million in cash and cash equivalents and $373 million available on the revolving credit facility as of June 30, 2024[7] - $53 million was returned to shareholders through quarterly dividends year-to-date through June 30, 2024[7] RV Market Trends - 82,000 wholesale towable units were shipped in Q2 2024, a 15% increase year-over-year[7] - Travel trailer and fifth-wheel RV content was $5,237 for the twelve months ended June 30, 2024, up 3% sequentially over the twelve months ended March 31, 2024[7]