Skip to main content

LCI Reports Higher Sales in Q2 and July

1_lippert

LCI Industries said second quarter revenue and profit rose as a result of more Americans embracing outdoor recreational activities, including boating.

Net sales in the quarter were $1.5 billion, an increase of 40 percent from $1.1 billion in the year-ago quarter, LCI said in a statement yesterday. Net income more than doubled in the recent quarter to $154.5 million, from $67.9 million in the second quarter of 2021.

“While RV inventories stabilize, we are confident in our ability to keep driving content and market share gains both within and outside RV OEM,” said Jason Lippert, LCI Industries president and CEO. “The widespread availability of peer-to-peer rentals, along with increasing costs of airfare and hotel lodging, have made camping, boating and RVing attractive options for vacationing.”

In the current quarter, the company said July sales were up 5 percent from July 2021, which Lippert called a “testament to diversification efforts which are helping to offset the deceleration experienced in North American RV production.”

LCI’s marine OEM sales jumped 44 percent to $132.4 million during the 12 months ended June 30 compared with the equivalent period in 2020-’21. Content per powerboat for the same period was up 71 percent year-over-year to $1,848.

Related

1_LIMESTONE

Limestone Secures Financing for Expansion

The company said the $6 million in credit will be used to improve its Tennessee manufacturing facility and buy new equipment.

1_MCKENZIE

Mastry Marine Names Repower Center

St. Augustine, Fla.-based McKenzie Marine is the engine distributor’s latest designated Suzuki Repower Center.

1_VANDERBILT

Vanderbilt Ships First Pontoon

The company said the 700T Series was the first model shipped from its new Fort Wayne, Ind., factory and was delivered to The Marina in Angola, Ind.

1_CHIPS.ACT

NMMA Celebrates CHIPS Act

The legislation aims to return semiconductor manufacturing to the U.S. and allows businesses to deduct R&D costs in the same year they are incurred.

1_COX

Cox Marine Hires Sales and Support Staff

The diesel outboard builder this week brought aboard a new regional sales director, regional sales manager and an aftersales manager.

1_DEALEROUTLOOK

Boating Interests Lose Wind Farm Battle

The Ohio Supreme Court has ruled that a proposed wind farm off the Cleveland, Oh., waterfront meets planning requirements.

1_INFLATION.JULY

July Inflation Data Lags June

Consumer Price Index results may indicate that inflation has peaked, and Producer Price Index data was below market expectations.

1_YAMAHA

Yamaha Posts Higher Sales, Profit

The company’s first half 2022 net sales increased to $1.93 billion, and segment income rose to $330 million.