LCI Industries (LCII) Announces Prelim. 1Q21 Sales Above Consensus
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LCI Industries (NYSE: LCII) which, through its wholly-owned subsidiary, Lippert Components, Inc. ("LCI"), supplies a broad array of highly engineered components for the leading original equipment manufacturers ("OEMs") in the recreation and transportation product markets, and the related aftermarkets of those industries, today provided preliminary net sales results for the first quarter of 2021.
LCI Industries anticipates consolidated net sales for the first quarter of 2021 to be approximately $1.0 billion. Additional information will be provided in the Company’s upcoming earnings release and Form 10-Q, which we anticipate filing in early May 2021.
“Following a pivotal year in the RV industry during 2020, we had another strong quarter, with sales anticipated to have increased more than 50% over the first quarter of 2020, as we continued to meet exceptional demand across the outdoor recreation space. These record results illustrate the strength of our teams, as well as the resilience of our business as we captured new growth opportunities while mitigating supply chain constraints facing the larger industry,” commented Jason Lippert, LCI Industries’ President and Chief Executive Officer.
The financial information in this release is preliminary and is subject to completion of the Company’s closing process for the first quarter of 2021. Full and final results for the first quarter of 2021 will be included in the Company’s upcoming earnings release and Form 10-Q for the first quarter.
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