Welcome to our dedicated page for LCI Industries news (Ticker: LCII), a resource for investors and traders seeking the latest updates and insights on LCI Industries stock.
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, through its subsidiary Lippert, has acquired substantially all the business assets of Way Interglobal Network, a supplier of appliances and electronics for the RV industry. The deal strengthens Lippert's Furrion line, enhancing their R&D capabilities in North America and expanding their warehousing space to 1.6 million square feet. Notably, the Way brand will be discontinued post-acquisition, but the Everchill and Greystone brands will enrich Lippert's product offerings. This acquisition positions Lippert as a leading innovative appliance supplier in the RV market.
LCI Industries (NYSE: LCII) announced the resignation of Brian Hall, Executive Vice President and Chief Financial Officer, effective June 2023. Hall is leaving to pursue philanthropic endeavors and spend more time with his family. He will assist in the transition until a successor is appointed. The company's President, Jason Lippert, acknowledged Hall's significant contributions to LCI, particularly in executing its diversification strategy. The Board has initiated a search for Hall's replacement to ensure a smooth transition.
LCI Industries reported third quarter 2022 net sales of $1.1 billion, reflecting a 3% decline from the prior year. Net income was $61.4 million, or $2.40 per diluted share, also down 3% year-over-year. EBITDA rose to $119.8 million, a 2% increase. Notably, net sales in adjacent markets surged 20%, contributing positively. The company's cash reserves fell to $23.4 million from $62.9 million at year-end 2021, with long-term debt at $1.1 billion. A conference call is scheduled for November 1, 2022.
LCI Industries (NYSE: LCII) will release its third-quarter 2022 financial results on November 1, 2022, prior to market opening. The company will also host a conference call at 8:30 a.m. ET on the same day to discuss the results and other business matters, including a Q&A session for institutional investors and analysts. Participants can access the call by dialing specific numbers based on their location. A replay will be available for two weeks. LCI, through its subsidiary Lippert, supplies engineered components for the recreation and transportation markets, including recreational vehicles and related aftermarkets.
LCI Industries (NYSE: LCII) will host an Investor Briefing on September 28, 2022, from 9:00 a.m. to 12:00 p.m. ET at the Furrion Innovation Center in Elkhart, Indiana.
The event will feature presentations by executive leadership, including Jason Lippert, CEO, and Brian Hall, CFO, outlining the company's long-term growth strategy and financial targets. A live Q&A and a panel discussion on outdoor recreation trends will also be included. Investors can access the event's live webcast on LCI Industries' investor website.
LCI Industries has announced a regular quarterly cash dividend of $1.05 per share, payable on September 16, 2022, to stockholders of record by September 2, 2022. The company, through Lippert Components, supplies a broad range of engineered components for OEMs in the recreation and transportation markets. This dividend reflects LCI's commitment to returning value to its shareholders while supporting its operational growth and market presence.
LCI Industries reported impressive second quarter 2022 results with net sales reaching $1.5 billion, a 40% increase year-over-year. Net income surged to $154.5 million or $6.06 per diluted share, up 128%. EBITDA improved significantly to $250.7 million, reflecting a 108% growth. Key drivers included price realization, market share gains, and increased wholesale shipments. The average product content per RV rose to a record $5,382, while net sales in July 2022 remained positive at approximately $368.4 million, up 5% from the previous year.
LCI Industries (NYSE: LCII) will release its Q2 2022 financial results on August 2, 2022, before market opening. The company, through its subsidiary Lippert Components, provides engineered components primarily for the recreation and transportation sectors, including recreational vehicles and trucks. A conference call will follow the release at 8:30 a.m. ET, with participation limited to institutional investors and analysts.
Details regarding accessing the call and a subsequent replay have been provided for interested parties.
LCI Industries (NYSE: LCII) has announced a regular quarterly cash dividend of $1.05 per share, payable on June 17, 2022, to shareholders on record as of June 3, 2022. The company, through its subsidiary Lippert, provides engineered components for OEMs in the recreation and transportation markets, including RVs and trailers. This dividend reflects LCI's ongoing commitment to returning value to its shareholders.
LCI Industries (NYSE: LCII) announced a new $200 million stock repurchase program over the next three years, aimed at enhancing shareholder value. This initiative reflects the Board's confidence in the company's long-term growth and solid financial position, supported by strong operating cash flows and borrowing capacity. Stock buybacks will occur based on market conditions and may be adjusted by the Board. The program will be funded using existing cash, cash equivalents, and future cash flows.
FAQ
What is the current stock price of LCI Industries (LCII)?
What is the market cap of LCI Industries (LCII)?
What does LCI Industries do?
What are the main segments of LCI Industries?
Who are the major clients of LCI Industries?
Where are LCI Industries' manufacturing facilities located?
What products does LCI Industries offer?
How does LCI Industries serve the aftermarket segment?
What is the significance of LCI Industries in the market?
What recent developments have occurred at LCI Industries?
How has LCI Industries performed financially?
What is the role of Lippert Components, Inc. in LCI Industries?
