LCI Industries(LCII)

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LCI Industries(LCII) - 2024 Q1 - Quarterly Results
2024-05-08 12:02
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 ...
LCI Industries(LCII) - 2023 Q4 - Annual Report
2024-02-23 13:17
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 ...
LCI Industries(LCII) - 2023 Q4 - Earnings Call Transcript
2024-02-13 16:47
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]
LCI Industries(LCII) - 2023 Q4 - Earnings Call Presentation
2024-02-13 13:53
LCI Industries FY 2023 Earnings Conference Call Whenever, wherever, we make your experience better. Forward-looking statements, including, without limitation, those relating to the Company's future business prospects, net sales, expenses and income (loss), capital expenditures, tax rate, cash flow, financial condition, liquidity, covenant compliance, retail and wholesale demand, integration of acquisitions, R&D investments, commodity prices and industry trends, whenever they occur in this presentation are n ...
LCI Industries(LCII) - 2023 Q3 - Earnings Call Transcript
2023-11-07 18:11
LCI Industries (NYSE:LCII) Q3 2023 Results Conference Call November 7, 2023 8:30 AM ET Company Participants Lillian Etzkorn - CFO Jason Lippert - President and CEO Kip Emenhiser - VP of Finance and Treasurer Conference Call Participants Kathryn Thompson - Thompson Research Group Scott Stember - ROTH MKM Mike Swartz - Truist Securities Fred Wightman - Wolf Research Daniel Moore - CJS Securities Bret Jordan - Jefferies Brandon Rolle - D.A. Davidson Operator Hello, and welcome to the LCI Industries Q3 2023 Ear ...
LCI Industries(LCII) - 2023 Q3 - Quarterly Report
2023-11-07 17:22
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, 2023 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Commission File Number: 001-13646 LCI INDUSTRIES (Exact name of registrant as specified in its charter) Delaware 13-3250533 (State or other jurisdiction of (I.R.S. Employer incorporati ...
LCI Industries(LCII) - 2023 Q2 - Earnings Call Transcript
2023-08-08 17:29
LCI Industries (NYSE:LCII) Q2 2023 Earnings Conference Call August 8, 2023 8:30 AM ET Company Participants Lillian Etzkorn - EVP & CFO Jason Lippert - CEO, President & Director Conference Call Participants Kathryn Thompson - Thompson Research Group Frederick Wightman - Wolfe Research Michael Swartz - Truist Securities Brandon Rollé - D.A. Davidson & Co. Daniel Moore - CJS Securities Craig Kennison - Robert W. Baird & Co. Bret Jordan - Jefferies Scott Stember - ROTH MKM Partners Operator Good morning or good ...
LCI Industries(LCII) - 2023 Q2 - Quarterly Report
2023-08-08 15:03
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) LCI INDUSTRIES (Exact name of registrant as specified in its charter) Delaware 13-3250533 (State or other jurisdiction of (I.R.S. Employer ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended: June 30, 2023 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from _________________ t ...
LCI Industries(LCII) - 2023 Q1 - Earnings Call Transcript
2023-05-09 16:09
LCI Industries (NYSE:LCII) Q1 2023 Earnings Conference Call May 9, 2023 8:30 AM ET Company Participants Lillian Etzkorn - Chief Financial Officer Jason Lippert - President, Chief Executive Officer, and Director Brian Hall - Executive Vice President Conference Call Participants Brian Biros - Thompson Research Group Fred Wightman - Wolfe Research Dan Moore - CJS Securities Craig Kennison - Robert W. Baird Bret Jordan - Jefferies Brandon Rolle - D.A. Davidson Tristan Thomas-Martin - BMO Capital Markets Operato ...
LCI Industries(LCII) - 2023 Q1 - Quarterly Report
2023-05-09 15:40
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, 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) Delaware 13-32 ...