LCI INDUSTRIES SEC 10-Q Report

LCI Industries, a leading supplier of components for the recreational vehicle (RV) and adjacent industries, has released its Form 10-Q report for the second quarter of 2025. The report highlights the company's robust financial performance and significant business developments, driven by strategic acquisitions, product innovations, and market share gains in North America.

Financial Highlights

• Net Sales: $1,107.3 million, an increase of 5.0% from $1,054.5 million in the same period of 2024, primarily due to sales from acquired businesses and higher North American RV sales.
• Gross Profit: $270.0 million, compared to $266.4 million in the same period of 2024, reflecting improved sales performance.
• Operating Profit: $87.8 million, compared to $90.6 million in the same period of 2024, with a margin of 7.9% in 2025 compared to 8.6% in 2024, impacted by executive separation costs and a shift in sales mix.
• Net Income: $57.6 million, compared to $61.2 million in the same period of 2024, reflecting the impact of increased costs and strategic investments.
• Net Income Per Common Share - Diluted: $2.29, compared to $2.40 in the same period of 2024, reflecting the changes in net income.

Business Highlights

• Revenue Segments: The OEM Segment accounted for 77% of consolidated net sales, with significant contributions from travel trailers, fifth-wheel RVs, and adjacent industries like boats and buses. The Aftermarket Segment contributed 23% of sales, focusing on discretionary accessories and replacement parts.
• Geographical Performance: The company saw a 5% increase in consolidated net sales, driven by higher North American RV sales and market share gains. International sales were slightly lower, with a decrease in European RV market volumes.
• Sales Units: Industry-wide wholesale shipments of travel trailers and fifth-wheel RVs increased by 8% in the first six months of 2025, while retail demand decreased by 3% due to inflation and interest rates. Motorhome shipments decreased by 3%, with retail demand down by 10%.
• New Product Launches: The company introduced product innovations in the Aftermarket Segment, enhancing its offerings in the RV aftermarket and expanding its relationship with Camping World.
• Future Outlook: The company anticipates continued growth opportunities in adjacent industries and the aftermarket segment, driven by product innovations and strategic partnerships. The U.S. RV ownership base, reaching a record 8.1 million households, is expected to drive robust demand for aftermarket products.

SEC Filing: LCI INDUSTRIES [ LCII ] - 10-Q - Aug. 05, 2025