Lci Industries · NYSE:LCII
Lci Industries — Q3 2021 Earnings Presentation
12 slides from Lci Industries's earnings presentation, Nov 2, 2021
Slide 1: LCI Industries Q3 2021 Earnings Conference Call
LCI Industries Q3 2021 Earnings Conference Call November 2, 2021 1
Slide 2: Forward-Looking Statements
FORWARD-LOOKING STATEMENTS This presentation contains certain “forward-looking statements” with respect to our financial condition, results of operations, business strategies, operating efficiencies or synergies, competitive position, growth opportunities, acquisitions, plans and objectives of manag
Slide 3: Third Quarter 2021 Highlights
Third Quarter 2021 Highlights Record Net Sales ■ Posted a record $1.2 billion in net sales during the third quarter ■ 1% year-over-year decline in Adjusted EBITDA for the third quarter as price adjustments lag cost inflation Growth driven by consisent execution to meet record consumer demand Growth
Slide 4: Furrion Acquisition
FURRION ACQUISITION Aligns with LCI's diversification strategy to continue driving outperformance Overview ■ Acquired Furrion, a leading distributor of a large range of appliances and other products to OEM and aftermarket customers ■ Strong management and R&D teams with international footprint and d
Slide 5: RV OEM Growth Drivers & Trends
RV OEM Growth Drivers & Trends RV OEM Key Drivers • Heightened retail demand continued throughout the third quarter, driven by ongoing secular tailwinds bringing new consumers into RV space • North American RV OEM revenues up 43% YoY Organic Growth Expectations • Executing plans to add capacity thro
Slide 6: Expanding Markets
International ■ Q3 2021 sales up 47% YoY ■ Demand in European markets remains strong, supported by similar secular trends driving U.S. growth ■ U.S. adoption of popular European products supporting content-per-unit growth Aftermarket ■ Q3 2021 sales up 18% YoY ■ Growth supported by heightened retail
Slide 7: Innovative Leadership
INNOVATIVE LEADERSHIP Leveraging our culture of innovation and technology: Our innovative culture brings technologically advanced products to a new generation of campers, enhancing the RV experience and driving the success of our platforms Safety & Security Monitoring & Control Connected & Digital C
Slide 8: Growth Strategy
GROWTH STRATEGY Growth progressed by innovation and demand Allocating Capital to Areas with the Highest Growth Return • Investment in the business, with focus on automation projects • Reduce leverage • Return capital to shareholders • Execute strategic acquisitions Integrating and Realizing Synergie
Slide 9: Q3 2021 Financial Performance
Operating Margin 11.4% 7.6% Third Quarter 2020 Third Quarter 2021 (in th ou sa nd s) Consolidated Net Income $68,347 $63,401 Third Quarter 2020 Third Quarter 2021 (in th ou sa nd s) Adjusted EBITDA* $119,388 $118,144 Third Quarter 2020 Third Quarter 2021 Headwinds including elevated freight, materia
Slide 10: Liquidity and Cash Flow
As of and for the nine months ended September 30 LIQUIDITY AND CASH FLOW 2021 2020 Cash and Cash Equivalents $73M $68M Remaining Availability under Debt Facilities(1) $417M $461M Capital Expenditures $74M $29M Dividends $64M $52M Debt / Net Income (TTM) 4.3x 4.6x Net Debt/EBITDA (TTM) 2.2x(2) 2.0x(3
Slide 11: Adjusted EBITDA Reconciliation of Non-GAAP Measures
Adjusted EBITDA Reconciliation of Non-GAAP Measures APPENDIX Adjusted EBITDA is a non-GAAP performance measure included to illustrate and improve comparability of its results from period to period. Adjusted EBITDA is defined as net income before interest expense, provision for income taxes, deprecia
Slide 12: LCI Industries Q&A
LCI INDUSTRIES Q&A 12