LCI Industries - LCII STOCK NEWS

LCI Industries (NYSE: LCII) will participate in CL King’s 19th Annual Best Ideas Conference on September 14, 2021. CFO Brian Hall will present a strategic overview during a webcast at 1:15 p.m. E.T. The presentation will be available live on the Company’s website, with a replay accessible shortly after. LCI, through its subsidiary Lippert Components, provides a range of engineered components for the OEMs in the recreation and transportation sectors, including products for trucks, trailers, and recreational vehicles.

LCI Industries (NYSE: LCII) has declared a cash dividend of $0.90 per share, scheduled for payment on September 17, 2021, to stockholders of record as of September 3, 2021. This quarterly dividend reflects the company's commitment to returning value to shareholders. LCI Industries, through its subsidiary Lippert, provides a wide range of components for OEMs in recreational and transportation markets.

LCI Industries (NYSE: LCII) announced the acquisition of Furrion Holdings Limited, a distributor in the recreational vehicle and specialty vehicle markets, for an estimated 2021 sales of $230 million. The deal, expected to close in Q3 2021, will integrate Furrion's innovative appliance and electronics products into Lippert's offerings, enhancing market reach, particularly in North America, Europe, and Australia. The partnership aims to leverage existing relationships to expand distribution across various sectors, positioning both companies for significant growth in a total addressable market exceeding $1.5 billion.

LCI Industries (LCII) reported a strong second quarter in 2021 with consolidated net sales of $1.1 billion, a 108% increase from the previous year. Net income rose to $67.9 million or $2.67 per diluted share, compared to $13.2 million in Q2 2020. Key drivers included record RV retail demand and strong aftermarket growth, contributing approximately $54 million from recent acquisitions. The company maintained a solid cash position of $98 million and aims to leverage ongoing demand despite industry-wide supply chain challenges.

LCI Industries (NYSE: LCII) will announce its Q2 2021 financial results on August 3, 2021, before market open. The announcement will be followed by a conference call at 8:30 a.m. ET, focusing on financial outcomes and business updates, exclusively for institutional investors and analysts. The call can be accessed via U.S./Canada and international numbers, and a live webcast is available for individual investors and media on the company's website. A replay will be accessible for two weeks post-call.

LCI Industries (LCII) announced the acquisition of Trazcor, Inc., a specialized metal fabrication company. Trazcor, based in Goshen, IN, supplies aluminum sidewalls and panels for the recreation and transportation OEM markets. With over 30 years of experience, Trazcor operates an 80,000 square foot facility and has established relationships across North America's RV, Utility Trailer, and Marine industries. This acquisition is expected to enhance Lippert's manufacturing capabilities and leverage immediate synergies, with Lippert already purchasing significant quantities of steel and aluminum annually.

LCI Industries (NYSE: LCII) announced the appointment of Tracy Graham as Chairman of the Board of Directors, succeeding Jim Gero. Graham, who joined the Board in 2016 and chaired the Compensation Committee, is also the CEO of Graham-Allen Partners, a private investment firm. Gero acknowledged Graham's contributions and leadership in shaping the company's strategic plans. The company, through its subsidiary Lippert, provides engineered components for OEMs in the recreation and transportation markets, primarily in the RV industry.

LCI Industries (NYSE: LCII) announced a quarterly cash dividend of $0.90 per share, payable on June 18, 2021. Shareholders on record as of June 4, 2021, will qualify for this dividend. The company, through its subsidiary Lippert, supplies engineered components to OEMs in the recreation and transportation sectors, including trailers, boats, and manufactured homes. LCI has a broad product portfolio ranging from chassis and axles to entry systems and accessories.

LCI Industries (NYSE: LCII) has priced $400 million in 1.125% convertible senior notes due 2026 in a private placement aimed at qualified institutional buyers. The notes, maturing on May 15, 2026, feature an initial conversion rate of 6.0369 shares per $1,000 principal amount, representing a 27.5% premium over the recent stock price. The company intends to use proceeds for entering into hedge transactions, repaying revolving credit, and general corporate purposes. The closing is expected on May 13, 2021, with an option for purchasers to buy an additional $60 million in notes.