Lci Industries · NYSE:LCII
Lci Industries — Q1 2021 Earnings Presentation
11 slides from Lci Industries's earnings presentation, May 4, 2021
Slide 1: LCI Industries First Quarter 2021 Earnings Conference Call
LCI INDUSTRIES 1 LCI Industries First Quarter 2021 Earnings Conference Call May 4, 2021
Slide 2: Forward-Looking Statements and Non-GAAP Financial Measures
LCI INDUSTRIES 2 Forward-Looking Statements and Non-GAAP Financial Measures 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 opportuni
Slide 3: First Quarter 2021 Highlights
LCI INDUSTRIES 3 First Quarter 2021 Highlights Posted a record $1.0 billion in net sales during the first quarter, along with 68% growth in adjusted EBITDA Achieved double-digit growth across all markets, while significantly expanding market share and content per vehicle Completed two strategic acqu
Slide 4: RV OEM
LCI INDUSTRIES 4 RV OEM • Retail demand continued its incredible momentum throughout the quarter, expected to remain at elevated levels throughout 2021 and beyond ◦ Q1 2021 RV OEM revenues up 64% YoY (wholesale shipments up 49% YoY) • New product innovation and market share gains drove continued str
Slide 5: Expanding Markets
LCI INDUSTRIES 5 Expanding Markets Executing on our diversification strategy to reach goal of 40% North American RV OEM by end of 2022 Adjacent Markets Aftermarket International ◦ Q1 2021 sales up 45% YoY ◦ Expanded our chassis manufacturing capabilities by welcoming Wolfpack Chassis, adding 50,000
Slide 6: Innovation Highlights
LCI INDUSTRIES 6 Innovation Highlights Innovation: a critical part of our strategy ◦ R&D expertise and innovation remain core components of LCI’s long-term strategy ◦ Extending OneControl capabilities to integrate into customer support, as demand builds for more technologically sophisticated product
Slide 7: Growth Strategy
LCI INDUSTRIES 7 Growth Strategy Integrating and Realizing Synergies from New Acquisitions ◦ LCI remains focused on realizing new synergies from our most recent acquisitions, preserving cash, and paying down debt in the near-term ◦ Maintaining a robust pipeline of M&A targets split evenly across all
Slide 8: Q1 2021 Financial Performance
LCI INDUSTRIES 8 Consolidated Net Sales $659,670 $1,000,258 First Quarter 2020 First Quarter 2021 Operating Margin 6.7% 10.1% First Quarter 2020 First Quarter 2021 Q1 2021 Financial Performance Consolidated Net Sales by Market YoY (in thousands) +64% RV OEM +34% ADJACENT OEM +45% AFTERMARKET SEGMENT
Slide 9: Liquidity and Capital Metrics
LCI INDUSTRIES 9 ($ in millions) 2021 2020 Cash, Cash Equivalents $63.3 $98.0 Remaining availability under Debt Facilities(1) $292.4 $341.7 Capital Expenditures $21.0 $8.0 Dividends $18.9 $16.3 Debt / Net Income (TTM) 3.9x(2) 5.5x(3) Net Debt / EBITDA (TTM) 1.9x(2) 2.4x(3) Cash from Operating Activi
Slide 10: Reconciliation of Non-GAAP Measures
LCI INDUSTRIES 10 Reconciliation of Non-GAAP Measures The following table reconciles net income to EBITDA and Adjusted EBITDA. Three Months Ended March 31, 2021 2020 (In thousands) Net income $ 74,120 $ 28,214 Interest expense, net 2,705 5,197 Provision for income taxes 24,606 10,855 Depreciation ex
Slide 11: Q&A
Q&A L C I I N D U S T R I E S