Lci Industries · NYSE:LCII
Lci Industries — Q2 2025 Earnings Presentation
18 slides from Lci Industries's earnings presentation, Aug 5, 2025
Slide 1: Q2 2025 Earnings Conference Call
Q2 2025 Earnings Conference Call 8.5.2025
Slide 2: Forward-Looking Statements
Forward-Looking Statements This presentation contains certain “forward-looking statements” with respect to our financial condition, results of operations, profitability, margin growth, business strategies, operating efficiencies or synergies, competitive position, growth opportunities, acquisitions,
Slide 3: Second Quarter 2025 Highlights
Second Quarter 2025 Highlights Share gains, cost savings initiatives, and our effective tariff mitigation strategy support resilience Quarterly Financial Performance Gaining Share through Innovation • Net sales of $1.1 billion, up 5% year-over-year • Launched new marine ladder product • Net income o
Slide 4: RV OEM
RV OEM Performance and Trends • 81,400 North American wholesale towable units shipped in Q2 2025, down 1% YoY • 97,100 estimated North American retail towable units sold in Q2 2025, down 2% YoY • Gained share in our top 5 RV product categories: appliances, awnings, chassis, furniture, and windows fo
Slide 5: Innovation Driving RV Organic Content Growth
Innovation Driving RV Organic Content Growth Key 2025 Model Year Product Wins New Window Designs Furrion® 18K Chill Cube Touring Coil and Integrated Shades Air Conditioner Suspension Sequential Towable Content Growth (LTM) YoY Towable Content Growth (LTM) * "Other" includes impact of RV unit shipmen
Slide 6: Adjacent Industries OEM
Adjacent Industries OEM Performance and Trends • Q2 2025 Adjacent Industries sales up 10% YoY • Increase primarily due to acquired sales from recent acquisitions in the resilient bus market, partially offset by continued headwinds in marine • Trans Air (acquired in March) - bus climate control syste
Slide 7: Aftermarket
Aftermarket Performance and Trends • Q2 2025 sales up 4% from the prior year driven by product innovations and the expanding Camping World relationship within the RV aftermarket, partially offset by lower volumes within the automotive aftermarket • 200 bps YoY margin contraction primarily driven by
Slide 8: Innovation Driving Growth
Marine Ladder Residential Windows Anti-Lock Braking Systems Innovation Touring Coil Suspension Driving Growth 4000 Series Windows Continued focus on innovation driving an ongoing increase of new product introductions Bi Fold Sundeck Chill Cube Air Conditioner 8
Slide 9: Growth Strategy
Growth Strategy Expanding share across diversified portfolio with cutting-edge innovations and best-in-class service Focus on Delivering Unparalleled Customer Capture Share of $13 Billion of Addressable Experience Opportunities in Adjacent and Aftermarket End • Over 150K RV consumer and dealer conta
Slide 10: Capital Allocation Highlights
Capital Allocation Highlights Executing on our capital allocation strategy through acquisitions, debt refinancing, and returning capital to shareholders Strategic Acquisitions Returning Capital to Shareholders • Recently completed two acquisitions to deepen • Paid quarterly dividend of $1.15 per sha
Slide 11: Q2 2025 Financial Performance
Q2 2025 Financial Performance +5% (70) bps (6)% (1)% * Additional information regarding Adjusted EBITDA, as well as reconciliation of this non-GAAP financial measure to the most directly comparable GAAP financial measure, is provided in the Appendix. 11
Slide 12: Liquidity and Cash Flow
Liquidity and Cash Flow As of and for the six months ended June 30 2025 2024 Cash and Cash Equivalents $192M $130M Remaining Availability under $595M $373M Revolving Credit Facility(1) Capital Expenditures $22M $21M Dividends $58M $53M Share Repurchases $66M $—M Debt / Net Income (TTM) 6.2x 6.8x Net
Slide 13: 2025 Tariff Update
2025 Tariff Update Q2 Breakdown: Raw Material & Component • $15.4 million of tariff expenses in the Source by Market (at year-end) quarter mitigated 2024 Actual Q2 2025 Actual 2025 Target 2H Tariff Mitigation Actions: Rest of World Rest of World • Diversify supply chain - transition into ~11% Rest o
Slide 14: 2025 Outlook
2025 Outlook RV Industry • Our current full year 2025 North American forecast is 320 - 350k wholesale unit shipments • Continued momentum and product placement with newly launched products in recent model year updates • Consolidated July 2025 sales up 5% YoY, primarily due to acquisition sales and p
Slide 15: Reconciliation of Non-GAAP Measures
Appendix Reconciliation of Non-GAAP Measures ADJUSTED EBITDA Three months ended June 30, Six months ended June 30, ADJUSTED EBITDA (TTM) Twelve months ended June 30, ($ in thousands) 2025 2024 2025 2024 ($ in thousands) 2025 2024 Net income $ 57,635 $ 61,163 $ 107,073 $ 97,708 Net income $ 152,232 $
Slide 16: Reconciliation of Non-GAAP Measures (cont.)
Appendix Reconciliation of Non-GAAP Measures (cont.) ADJUSTED NET INCOME Three Months Ended June 30, Six months ended June 30, ($ in thousands, except per share amounts) 2025 2024 2025 2024 Net income $ 57,635 $ 61,163 $ 107,073 $ 97,708 Loss on extinguishment of debt — — 8,053 — Executive separatio
Slide 17: Historical Unit Mix as Percentage of LCI RV OEM Chassis Shipments
Appendix Historical Unit Mix as Percentage of LCI RV OEM Chassis Shipments 17
Slide 18: Q&A
Q&A