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Sep 30, 2023
LCI Q3 2023 Earnings Report
LCI Industries reported a decrease in net sales and net income, but saw growth in the Aftermarket segment and progress in diversification efforts.
Key Takeaways
LCI Industries reported a 15% decrease in net sales to $1.0 billion and a 58% decrease in net income to $26 million, or $1.02 per diluted share, for the third quarter of 2023. The Aftermarket segment showed year-over-year growth, and diversification efforts continued to drive sales. The company reduced inventory by $238 million year-to-date and repaid $211 million of indebtedness.
Net sales decreased by 15% year-over-year to $1.0 billion.
Net income decreased by 58% year-over-year to $26 million, or $1.02 per diluted share.
Aftermarket segment and Adjacent Industries OEM net sales exceeded 56% of total net sales for the twelve months ended September 30, 2023, showcasing diversification strategy.
Inventory was reduced by $238 million year-to-date through September 30, 2023.
Revenue by Segment
Forward Guidance
LCI Industries did not provide specific forward guidance for the next quarter or full year in this earnings report.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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