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LCI Industries (LCII) Tops Q2 EPS by 22c

August 6, 2019 7:21 AM

LCI Industries (NYSE: LCII) reported Q2 EPS of $1.89, $0.22 better than the analyst estimate of $1.67. Revenue for the quarter came in at $629.1 million versus the consensus estimate of $643.7 million.

"In the second quarter, we delivered solid performance led by growth in Aftermarket, as well as sequential margin expansion driven by market share gains, operational efficiencies, and material cost improvements. While the North American RV market remains challenging, our diversification strategy continues to generate solid momentum. As of June 30th, our adjacent, aftermarket, and international sales comprised over 40 percent of our last twelve-month sales, which was supported by 29 percent growth in domestic Aftermarket sales over the first quarter and 13 percent year-over-year. In addition, our Aftermarket Segment operating margin has expanded to 17.1 percent in the second quarter and 14.9 percent year-to-date. We also benefited from the implementation of initiatives to enhance our manufacturing efficiencies through several continuous improvement, lean, and automation projects, which drove lower labor costs for the quarter and enhanced margins," said LCI Industries' Chief Executive Officer, Jason Lippert. "Supplementing our investments in innovation, content growth, and market share gains, we also announced two exciting transactions during the quarter, Lewmar Marine and Lavet, which will further enhance our offerings to the marine and the international RV market, respectively. As we look to the back half of 2019, while the domestic RV market will remain somewhat pressured, we believe we have the opportunity to further drive value for our shareholders through a continued focus on diversifying our business as we remain committed to core industry leadership, innovation, and growth into new markets."

For earnings history and earnings-related data on LCI Industries (LCII) click here.

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