LCI Industries reports sees Q4 EPS (14c)-(4c), consensus 41c

Sees Q4 revenue $832M-$842M, consensus $846.31M. “As RV and marine OEMs took action during the fourth quarter to further normalize industry inventories, our results were adversely impacted by lower than expected production levels at the OEMs, including longer shutdowns at pontoon manufacturers within the marine industry. While marine production has continued to be soft as we begin 2024, RV production has shown a slow and modest start returning from the holiday shutdowns and is outpacing January 2023 levels. We expect an improving trend for RV with February orders looking stronger year-over-year, as retail shows are giving off positive sentiment,” commented Jason Lippert, LCI Industries’ president and CEO. “The strength of our diversification strategy, coupled with our tenured leadership and continued focus on operational excellence and customer experience, has proven critical as we navigate these near-term challenges. We remain acutely focused on taking non-strategic costs out of our business and leveraging our flexible capacity to support margin improvements. At the same time, we are delivering solid growth and performance in our Aftermarket segment and other adjacent businesses to offset weakness in the RV and marine industries. We believe our business is built to withstand these near-term pressures, and we plan to continue to invest strategically and are confident in the mid- to long-term profitable growth of our business.”