📈 Price History

Ratio Health

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By Category

📊 Peer Medians

About

LCI Industries, together with its subsidiaries, manufactures and supplies engineered components for the manufacturers of recreational vehicles (RVs) and adjacent industries in the United States and internationally. It operates through two segments, Original Equipment Manufacturers (OEM) and Aftermarket. The OEM segment manufactures and distributes a range of engineered components, such as steel chassis, axles, anti-lock braking systems, and suspension systems; manual, electric, and hydraulic stabilizer and leveling systems; awnings, slide-out mechanisms, and accessories; vinyl, aluminum, and frameless windows; entry, luggage, patio, and ramp doors; electric and manual entry steps and awnings; thermoformed bath and kitchen products; furniture, mattresses, tankless water heaters, air conditioners, appliances, electronic components, televisions, and sound systems; windshields; and hitches, pin boxes, grill guards, towing electrical, and towing and truck accessories. This segment serves OEMs of RVs and adjacent industries, including boats, buses, cargo and utility trailers used to haul boats, livestock, equipment, and other cargo; trucks; trains; manufactured homes; and modular housing. The Aftermarket segment supplies engineered components to aftermarket channels of the recreation and transportation markets for retail dealers, wholesale distributors, and service centers, as well as direct-to-consumer sales through online platforms. This segment also sells replacement glass and awnings to fulfill insurance claims; and biminis, covers, buoys, fenders, towing products, truck accessories, appliances, air conditioners, televisions, sound systems, and tankless water heaters. LCI Industries was formerly known as Drew Industries Incorporated and changed its name to LCI Industries in December 2016. The company was founded in 1956 and is headquartered in Elkhart, Indiana.

Key Ratios Snapshot

📈 Growth Pattern

⚡ Latest Quarter —

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⭐ Superinvestors Holding LCII

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Manager	Shares	Value	% of Fund	Period
Jim Simons Renaissance Technologies LLC	20.1K	$2.5M	0.00%	Mar 2026

SEC Form 13F data. 45-day lag from quarter end.

🔍 Concall Decoded

🎙 Management Tone Tracker Confident Specific → Stable 4 quarters analysed

Q2 2025

Confident Specific

Management led with specific growth figures ($1.1B sales, +5% YoY, +2% organic content) and detailed tariff mitigation ($15M offset, China exposure reduction from 24% to 10% by year-end) while acknowledging persistent headwinds (high rates, dealer caution). Repeated forward-looking targets ($5B revenue by 2027, 85bps overhead reduction) without hedging.

Q3 2025

Confident Specific

Management used phrases like 'exceptionally strong quarter,' 'solid margin improvement,' and 'confidence continues to build.' They repeatedly highlighted double-digit sales growth and specific operational achievements (e.g., 140 bp margin expansion, $5M annualized savings from consolidations).

Q4 2025

Confident Specific

Management repeatedly used phrases like 'pleased with strong results', 'executing effectively', '15% top-line growth', and 'operating margin more than doubling' to underscore performance. Specific forward guidance numbers were provided for 2026 revenue ($4.2-4.3B) and operating margins (7.5-8%), reinforcing a confident and precise tone.

Q1 2026 latest

Confident Specific

Management used phrases like 'energized by the momentum', 'strong results', 'exceptional work', and provided specific figures (revenue +4%, EBITDA margin 11.5%, adjusted diluted EPS +18%) to convey confidence in their diversified strategy and self-help initiatives.

Guidance Reliability Pending · <3Q data

Investor Lens

The investment thesis is moderately stronger after this call. The company demonstrated margin expansion and revenue growth despite a weak RV industry, validating the diversification and self-help strategies. Key positive changes include the successful integration of Freedman Seating and Trans/Air, record content per towable, and aftermarket gains from First Brands disruption. However, the sluggish retail environment and unresolved tariff risks remain headwinds. Next quarter, watch for retail demand trends, progress on facility consolidations, and any further commentary on tariff pass-through. The Patrick Industries discussions ending may remove a distraction but also signals no near-term transformational M&A. Overall, the thesis holds up well as operational execution offsets cyclical weakness.

AI-generated concall tone analysis · Updated 2026-06-09 · Not investment advice

🎙 Management Tone Confident Specific → Stable 4 quarters Full tone analysis in Intelligence →

📊 MIXED LCI Industries Q1 2026: Revenue $1.1B, EBITDA margin 11.5%, RV content $5,826

Revenue & Profitability

First quarter 2026 consolidated net sales were $1.1 billion, up 4% year-over-year. GAAP net income was $63 million ($2.53 per share); adjusted diluted EPS was $2.59, up 18%. Operating profit totaled $95 million, up 17%, with operating margin expanding 90 basis points to 8.7%. Adjusted EBITDA was $125 million, up 13%, with margin of 11.5%.

Outlook

Management now expects RV wholesale shipments of 315,000–330,000 units in 2026, down 20,000 units from prior guidance. Marine industry deliveries are expected flat to up low single digits. Retail RV demand remains sluggish, but used RV sales are strong mid-single to mid-teens. Tariffs and material cost inflation are ongoing headwinds, with pricing actions expected to offset with a short lag.

Growth Drivers

Key growth drivers include innovation (new products generating $270 million annualized run rate, $140 million incremental from model year change), aftermarket expansion (capturing $70 million opportunity from First Brands bankruptcy), adjacent OEM markets (marine, bus, utility trailer, up 17% in Q1), and European restructuring benefits. Content per RV unit continues to rise, led by fifth wheel mix and pricing.

Balance Sheet & CapEx

Capital expenditures are expected to be $55–$75 million for full year 2026, focused on business investment and innovation. Key capacity investments include a 600,000 square foot distribution center in South Bend (online last quarter) and a 400,000 square foot facility in Seguin, Texas (expected by year-end) to consolidate operations.

Margins

Operating margin improved 90 basis points to 8.7% in Q1, driven by self-help initiatives (footprint optimization, G&A discipline, pricing). Full-year operating margin guidance is 7.5%–8%, with 70–120 bps improvement targeted. Aftermarket operating margin was 7.8% (down from 8.7%) due to tariff costs and investment in capacity. The company targets double-digit EBIT margins long-term.

Key Risks

Management and analysts highlighted risks from tariff and material cost inflation, with potential lags in passing through pricing. Sluggish RV retail demand and lower wholesale shipment guidance (315k–330k units) could pressure volumes. Aftermarket margins are temporarily compressed by tariffs and investment. Facility consolidation execution is also a risk.

Generated by AI · Q1 2026 results · Not investment advice

✓ 📞 Earnings Call Transcripts (5 quarters) submit a missing quarter

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📞 Earnings Call Transcripts (5)

Q2 2026 Q2 2026 2026-08-05

Q2 2026 saw improved profitability and margin expansion despite a 4% sales decline, driven by cost efficiencies and strong aftermarket growth. Full-year guidance was lowered for revenue but margins and EPS are expected to remain robust, supported by innovation and disciplined execution.

Q1 2026 Q1 2026 2026-05-05

Q1 2026 saw 4% revenue growth, 18% adjusted EPS growth, and margin expansion, driven by diversification, innovation, and operational improvements. Guidance remains strong despite a softer RV outlook, with continued gains expected from new products, facility consolidations, and aftermarket momentum.

Q4 2025 Q4 2025 2026-02-18

Q4 2025 saw 16% sales growth and 180 bps margin expansion, driven by innovation, acquisitions, and strong aftermarket performance. 2026 guidance calls for $4.2–$4.3B revenue, 7.5–8% margin, and continued facility consolidations, with growth supported by new products and market share gains.

Q3 2025 Q3 2025 2025-10-30

Sales grew 13% to $1B with strong margin expansion and double-digit gains in RV and adjacent markets. Facility consolidations, innovation, and acquisitions drove results, while guidance calls for continued growth, margin improvement, and disciplined capital allocation into 2026.

Q2 2025 Q2 2025 2025-08-05

Q2 2025 sales rose 5% year-over-year to $1.1 billion, driven by market share gains, acquisitions, and product innovation. Margins were pressured by tariffs and product mix, but cost actions and supply chain diversification supported resilience. Guidance for 2025 and long-term targets remain unchanged.

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