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Mar 31, 2024
LCI Q1 2024 Earnings Report
Delivered solid results with healthy EBITDA generation and margin expansion supported by strong operational focus and improved material costs.
Key Takeaways
LCI Industries reported first quarter 2024 results with net sales of $968 million, a decrease of 1% year-over-year. Net income was $37 million, or $1.44 per diluted share, up from $7 million, or $0.29 per diluted share, in the first quarter of 2023. EBITDA was $90 million, up from $53 million in the first quarter of 2023.
Net sales decreased by 1% year-over-year to $968 million.
Net income increased to $37 million, or $1.44 per diluted share, compared to $7 million, or $0.29 per diluted share, in the first quarter of 2023.
EBITDA increased to $90 million, up from $53 million in the first quarter of 2023.
Aftermarket Segment operating profit margin increased to 11.8%, up from 9.7% in the first quarter of 2023.
LCI
LCI
LCI Revenue by Segment
Revenue by Segment
Travel Trailers & Fifth-Wheels Revenue
CapyFin.comMotorhomes Revenue
CapyFin.comAdjacent Industries OEMs Revenue
CapyFin.comAftermarket Segment Revenue
CapyFin.com Forward Guidance
The company is well-positioned to capture market share gains and advance their competitive position throughout 2024.
Positive Outlook
- Expect a gradual improvement in production heading further into the year, led by towables.
- Introductions of advanced products are embedding the company deeper with key OEMs.
- Approximately $200 million in new business commitments for 2024.
- Committed to making continued operational improvements across footprint.
- Continue to reduce inventory and focus on cash generation.
Challenges Ahead
- Lingering headwinds.
- Lower North American marine production levels.
- Decreased selling prices which are indexed to select commodities.
- Lower volumes within marine markets.
- Impacts of inflation and elevated interest rates on consumers' discretionary spending.
Revenue & Expenses
Visualization of income flow from segment revenue to net income