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Jun 30, 2023
LCI Q2 2023 Earnings Report
Diversification and operational focus led to sequential margin expansion.
Key Takeaways
LCI Industries reported Q2 2023 results with net sales of $1.0 billion, a 34% decrease year-over-year. Net income was $33 million, or $1.31 per diluted share, down 78% year-over-year. The company continued its diversification strategy, with North American RV OEM net sales less than 42% of total net sales.
Net sales of $1.0 billion in the second quarter, down 34% year-over-year
Net income of $33 million, or $1.31 per diluted share, in the second quarter, down 78% year-over-year
EBITDA of $88 million, down 65% year-over-year
Continued execution of diversification strategy with North American RV OEM net sales less than 42% of total net sales for twelve months ended June 30, 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 demand environment is improving, with order forecasts trending slightly upwards from the last quarter, dealer destocking beginning to slow, and older inventory clearing out as the latest models enter the market.
Positive Outlook
- Order forecasts trending slightly upwards from the last quarter
- Dealer destocking beginning to slow
- Older inventory clearing out as the latest models enter the market
- Millions more campers hit the road this Memorial Day and Fourth of July versus 2022
- RV trips being almost 50% cheaper versus traditional modes of vacation
Revenue & Expenses
Visualization of income flow from segment revenue to net income