LCI Industries Reports 4.3% Increase in Q1 Net Sales

By Hao Liu • Tuesday, May 05 11:11 • Permanent Link

LCI Industries said first-quarter net sales rose 4.3% to $1.1 billion from $1.0 billion a year earlier, as the company posted higher earnings, wider margins and stronger cash generation.

Net income climbed 27% to $62.9 million, or $2.53 a diluted share, from $49.4 million, or $1.94 a share. Adjusted diluted earnings per share increased 18% to $2.59 from $2.19. Adjusted EBITDA rose 13% to $125.0 million from $110.9 million.

Operating profit margin improved to 8.7% from 7.8%, a gain of 90 basis points.

The OEM segment generated $852.8 million in sales, up 4% from a year earlier. Within that unit, RV OEM sales fell 4% to $509.8 million, while adjacent industries OEM sales climbed 17% to $343.0 million. OEM operating profit increased to $76.5 million from $62.0 million, and the margin rose to 9.0% from 7.5%.

The aftermarket segment posted sales of $237.7 million, up 7% from the prior year. Operating profit in the segment slipped to $18.7 million from $19.3 million, and margin narrowed to 7.8% from 8.7%.

Towable RV content per unit increased 13% to $5,826.

Cash and cash equivalents totaled $142.2 million at March 31, 2026, down from $222.6 million at the end of 2025. Long-term debt, including current maturities, was $945.0 million. The company had $595.2 million of borrowing availability on its revolving credit facility, bringing total liquidity to $737 million.

During the quarter, LCI Industries returned $27.9 million to shareholders through dividends and spent $9.7 million on capital expenditures. Cash flow from operations for the trailing 12 months ended March 31 reached $255 million.

For April 2026, the company expects net sales of about $374 million, down 4% from a year earlier. It now sees 2026 North American RV wholesale shipments at 315,000 to 330,000, down from its prior range of 335,000 to 350,000.

For the full year, LCI Industries now expects revenue of $4.2 billion to $4.3 billion, operating profit margin of 7.5% to 8.0%, and adjusted EPS of $8.75 to $9.25. The company raised the lower end of its EPS range from $8.25 and left the top end unchanged. Today the company's shares have moved 2.07% to a price of $109.00. For the full picture, make sure to review LCI INDUSTRIES's 8-K report.

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