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Jun 30, 2025
LCI Q2 2025 Earnings Report
LCI Industries reported strong second quarter results, driven by innovative portfolio, share gains, and effective cost management, despite a challenging macro environment.
Key Takeaways
LCI Industries delivered robust second-quarter results with net sales increasing by 5% year-over-year to $1.1 billion. The company achieved a net income of $58 million, or $2.29 per diluted share, and an adjusted net income of $60 million, or $2.39 per diluted share. Growth was fueled by share gains in key categories, organic content growth, and strategic cost-saving initiatives, including supply chain tightening and footprint optimization. The company also reignited its M&A playbook with the acquisition of Freedman Seating Company and maintained a strong liquidity position.
Net sales increased by 5% year-over-year to $1.1 billion in the second quarter of 2025.
Net income was $58 million ($2.29 per diluted share), with adjusted net income at $60 million ($2.39 per diluted share).
Adjusted EBITDA was $121 million, representing an 11.0% margin, despite a slight year-over-year decrease.
The company maintained a strong liquidity position with $192 million in cash and cash equivalents and $595 million in revolving credit facility availability.
Revenue by Segment
Forward Guidance
LCI Industries is on track to achieve its $5 billion organic revenue target by 2027 and is making significant progress towards its 85 basis point overhead and G&A improvement goal for 2025. The company anticipates capital expenditures between $50 million and $70 million, depreciation and amortization between $115 million and $125 million, and an annual tax rate of 25% to 27% for the full year 2025.
Positive Outlook
- On track to reach $5 billion organic revenue target in 2027.
- Making meaningful headway toward 85 basis point overhead and G&A improvement goal for 2025.
- Anticipated capital expenditures for 2025 are between $50 million and $70 million.
- Expected depreciation and amortization for 2025 are between $115 million and $125 million.
- Projected annual tax rate for 2025 is between 25% and 27%.
Challenges Ahead
- No specific negative forward guidance points were explicitly stated in the provided text for the full year 2025.
Revenue & Expenses
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Historical Earnings Impact
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Avg. Return Before/After Earnings
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