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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.
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
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