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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) has appointed Stephanie Mains as an independent director on its Board. Mains brings a wealth of experience, having previously served as Interim President and CEO of GE Power Conversion and President and CEO of ABB Industrial Solutions. She has held various executive roles in GE Energy and currently sits on the boards of several companies. Her extensive operational background is expected to significantly benefit LCI Industries and its stakeholders.
LCI Industries (NYSE: LCII) has promoted Eileen Pruitt to Deputy Chief Human Resources Officer and Senior Legal Counsel. In her new role, she will collaborate with Nick Fletcher, Chief Human Resources Officer, to execute global HR strategies for over 10,000 employees and manage employment-related legal matters. Pruitt, with a J.D. and B.A. from Notre Dame, previously practiced law at a national firm representing corporate clients. Her promotion aligns with Lippert’s succession planning and aims to ensure leadership continuity as the company pursues its business strategy.
LCI Industries (NYSE: LCII) has announced a quarterly cash dividend of $0.75 per share, payable on March 26, 2021, to stockholders of record on March 12, 2021. The company, through its subsidiary Lippert Components, supplies a range of engineered components primarily for recreation and transportation OEMs, including trailers, buses, and boats. This dividend reflects the company's ongoing commitment to return value to shareholders while navigating industry challenges.
LCI Industries (NYSE: LCII) reported strong financial results for Q4 and the full year 2020, achieving record annual net sales of $2.8 billion, an 18% increase from 2019. Q4 net sales rose to $783 million, a 39% increase year-over-year. Net income for 2020 was $158.4 million or $6.27 per diluted share. The company successfully navigated supply chain challenges, capitalizing on high RV demand and executing a diversification strategy through acquisitions. January 2021 net sales were approximately $309 million, up 38% from January 2020.
LCI Industries (NYSE: LCII) will release its fourth-quarter and year-end 2020 financial results on February 9, 2021, before market open. A conference call to discuss the results, led by CEO Jason Lippert and CFO Brian Hall, is scheduled for 8:30 a.m. ET the same day. Participation will be limited to institutional investors and analysts, with a Q&A session following the presentation. Investors can listen via telephone or a live webcast available on LCI's investor website. A replay of the call will be accessible for two weeks after.
LCI Industries (NYSE: LCII), through its subsidiary Lippert Components, has acquired Veada Industries, a manufacturer of marine seating and accessories, expanding its marine product capabilities. This acquisition, the fifth in the marine sector since 2015, positions LCI to better meet the growing demand for marine products. Veada brings over 50 years of experience and will complement LCI's existing offerings, providing enhanced solutions to OEM marine customers. The leadership team of Veada is expected to synergize with LCI, addressing capacity challenges in the industry.
LCI Industries (NYSE: LCII) announced the acquisition of substantially all business assets of Challenger Door, LLC, a leading RV door manufacturer. The deal aims to enhance LCI's growth by expanding product offerings and improving customer service within the booming recreational products market. CEO Jason Lippert highlighted Challenger Door's innovative products and strong customer commitment as significant benefits for LCI’s operations. This acquisition positions LCI to better support its customers and capitalize on growth opportunities in the RV industry.
LCI Industries (NYSE: LCII) has announced a quarterly cash dividend of $0.75 per share of common stock, payable on December 18, 2020, to shareholders of record by December 4, 2020. The company, through its subsidiary, Lippert Components, Inc., supplies engineered components for OEMs in recreation and transportation markets, including RVs, buses, trailers, and more. LCI operates over 90 manufacturing facilities across North America and Europe, emphasizing its broad market reach.
LCI Industries reported a record third quarter 2020, achieving 41% revenue growth to $827.7 million and 91% earnings growth, with net income rising to $68.3 million or $2.70 per share. The growth was driven by strong demand in the RV sector and strategic acquisitions, contributing $99 million to net sales. Adjusted EBITDA reached $119.4 million, a significant increase from last year's $67.9 million. As of September 30, 2020, cash and cash equivalents increased to $68.2 million. LCI expects continued strong performance into 2021, leveraging operational capabilities and innovation.
LCI Industries (NYSE: LCII) is set to publish its financial results for Q3 2020 on November 2, 2020, before market opens. The company will host a conference call at 8:30 a.m. ET on the same day to discuss these results, which will be accessible to institutional investors and analysts. Individual investors and other interested parties can listen to a live webcast via the company’s website. LCI, through its subsidiary Lippert Components, supplies highly engineered components for OEMs in the recreation and transportation sectors.
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