Lippert Q3 sales down 3 percent

The company is relying on aftermarket and international sales to offset declines in OEM sales in RV and marine.
Publish date:

Lippert Components today reported third-quarter sales of $586.2 million, a 3 percent decrease compared to the same period a year ago. Net income was up to $35.8 million compared to $33.8 million a year ago.

The company said in a statement that sales for its “Adjacent Industries OEMs,” which includes marine, rose to $162.6 million compared to $157.9 million a year ago. Aftermarket sales were up 16 percent to $74.7 million for the quarter. International sales were up 32 percent to $35.3 million.

“We executed further on our diversification strategy in the third quarter, again delivering notable growth in our aftermarket and international sales, which now together make up over 41 percent of our last 12 months’ sales,” Jason Lippert, CEO, said in the statement. “Importantly, we have been able to grow these businesses despite decreased recreational vehicle and marine volumes as dealers move closer to more normalized inventory levels.”


Mustang Survival Hires PR Partner

Formidable Media will provide public relations for the safety gear and apparel manufacturer.

Southern Marinas Acquires N.C. Facility

Ocean Isle Marina along the Intracoastal Waterway is the latest acquisition of Southern Marinas Holdings II.

NMMA Reports Retail Trends for Cruising, Water Sports and Fishing Boats

A newly released section from its U.S. Recreational Boating Statistical Abstract shows record growth across these categories.

Smartgyro Expands Operations

The gyrostabilizer manufacturer moves to a larger facility and makes hires in anticipation of growth.

SmartPlug Adds Employee, Moves to Larger Facility

Andrew Lankford is named quality assurance engineer, while the move gives the company 40 percent more manufacturing space.

The Next Wavve

The smart-device-based navigation app expands functionality with real-time tide and current monitoring.

Dealers: Have You Added Service Staff?

This month’s Pulse Report survey addresses the service department. Take the survey here.