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LCI Industries (LCII) is a key player in the manufacturing sector, primarily serving the recreational vehicle (RV) and adjacent industries. Operating through its subsidiary, Lippert Components, Inc. (LCI®), the company supplies a wide range of components from its 42 manufacturing facilities located throughout the United States and Canada. These components are critical for leading manufacturers of RVs, buses, trailers, pontoon boats, manufactured housing, modular housing, and factory-built mobile office units.
Product Portfolio: LCI Industries' extensive product lineup includes steel chassis, axles, suspension solutions, slide-out mechanisms, thermoformed bath and kitchen products, windows, stabilizer and leveling systems, chassis components, furniture, mattresses, entry and ramp doors, electronic steps, awnings, slide toppers, LED televisions, sound systems, navigation systems, wireless backup cameras, and various electronic components. This diverse range of products highlights the company's versatility and its comprehensive service to the RV and adjacent industries.
Business Segments: The company operates through two main segments: the Original Equipment Manufacturers (OEM) segment and the Aftermarket segment. The OEM segment caters to the manufacturers of RVs and related industries, such as buses, trailers, trucks, pontoon boats, trains, manufactured homes, and modular housing. Major clients include Thor Industries, Forest River, Winnebago, and other prominent RV OEMs. The Aftermarket segment focuses on providing components and accessories directly to consumers and dealerships for RV maintenance and enhancement.
Financial Performance: LCI Industries has demonstrated consistent financial growth, buoyed by a robust demand for RVs and related products. Strategic partnerships, a comprehensive product range, and a strong presence in both OEM and aftermarket segments have solidified the company's market position.
Recent Developments: LCI Industries continually innovates and expands its product offerings to meet evolving market demands. Recent projects and achievements reflect the company's commitment to enhancing the RV experience and supporting adjacent industries with advanced, reliable components.
Conclusion: With a solid foundation and a commitment to quality, LCI Industries stands as a significant contributor to the RV industry and beyond, providing essential components that ensure safety, comfort, and convenience for consumers.
LCI Industries (NYSE: LCII) will release its Q1 2023 financial results on May 9, 2023, before market opening. The company, through its subsidiary Lippert Components, provides a diverse range of engineered components for OEMs in the recreation and transportation sectors, including RVs, trailers, and related aftermarket products. A conference call will be held on the same day at 8:30 a.m. ET to discuss the results, with limited participation for institutional investors and analysts. Access to the call is available by phone or via a live webcast on LCI's investor website. A replay will be offered for two weeks after the call. Key participants include CEO Jason Lippert, CFO Lillian Etzkorn, and EVP Brian Hall.
LCI Industries (NYSE: LCII) announced the appointment of Lillian D. Etzkorn as Executive Vice President and Chief Financial Officer effective April 17, 2023. She replaces Brian Hall, who will retire to focus on philanthropy and family but will remain in an advisory capacity for a smooth transition. Etzkorn brings extensive experience in financial leadership from previous roles at Covia, Shiloh Industries, and Dana Holding Corporation. Her appointment is seen as a strategic move to enhance profitability and cash generation for LCI. Jason Lippert, President and CEO, expressed confidence in her ability to drive the company's growth strategy.
LCI Industries (NYSE: LCII) has declared a quarterly cash dividend of $1.05 per share, payable on March 24, 2023, to stockholders of record as of March 10, 2023. The company, through its subsidiary Lippert Components, provides engineered components for original equipment manufacturers in the recreation and transportation sectors. This dividend announcement reflects LCI's commitment to returning value to shareholders while maintaining its business stability in a competitive landscape.
LCI Industries reported its full year 2022 results with record net sales of $5.2 billion, a 16% increase year-over-year, and net income of $395 million or $15.48 per diluted share, up 37% from 2021. EBITDA rose 34% to $682.2 million. However, the fourth quarter witnessed a 26% decline in net sales to $894.3 million and a net loss of $17.1 million resulting in a $(0.68) per diluted share. Challenges were driven by a 40% drop in RV OEM net sales, with a significant drop in North American shipments. Despite these headwinds, the company is optimistic about future growth and expects production normalization in 2023.
LCI Industries (NYSE: LCII) has released preliminary, unaudited financial results for Q4 2022, estimating net sales between
LCI Industries (NYSE: LCII) has declared a quarterly cash dividend of $1.05 per share, payable on December 16, 2022. Stockholders of record by December 2, 2022 will receive this dividend. The dividend reflects LCI's commitment to returning value to shareholders amid its operations in supplying engineered components to leading OEMs in the recreation and transportation sectors. Further details about its diverse product offerings can be found on its website.
LCI Industries (NYSE: LCII) has appointed Linda Myers as an independent director to its Board of Directors. Myers brings extensive legal and financial expertise, having previously served as a partner at Kirkland & Ellis LLP and held leadership roles in various organizations. She will be a member of several committees, including Audit and Risk. Chairman Tracy Graham expressed confidence in her abilities to add value to the company. The Board of Directors consists of multiple experienced members, each serving a one-year term until the next annual election.
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