Lci Industries · NYSE:LCII
Lci Industries — Q1 2022 Earnings Presentation
11 slides from Lci Industries's earnings presentation, May 10, 2022
Slide 1: LCI Industries Q1 2022 Earnings Conference Call
LCI Industries Q1 2022 Earnings Conference Call May 10, 2022 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: First Quarter 2022 Highlights
First Quarter 2022 Highlights Record results supported by continued operational execution Record Results Growth Across All Markets ■ All-time high net sales of $1.6 billion, net ■ Achieved double-digit growth income of $196.2 million in the first quarter across all markets ■ 139% increase in EBITDA1
Slide 4: RV OEM Growth Drivers & Trends
RV OEM RV OEM Growth Drivers & Trends Key Drivers • Wholesale shipments remain strong, with 171,500 units shipped in Q1 2022 as secular trends continue to draw consumers into outdoor lifestyle • Q1 2022 North American RV OEM sales up 90% YoY Organic Growth Expectations • Current 2022 RVIA forecast o
Slide 5: Expanding Markets
EXPANDING MARKETS Utilizing Demand to Fuel Expansion of All Markets Aftermarket Adjacent Markets ■ Q1 2022 sales up 35% YoY ■ Q1 2022 sales up 42% YoY ■ Progressing integration of Furrion acquisition, ■ Continued growth in Marine, supported by supporting introduction of innovative new products conte
Slide 6: Innovation as a Culture
INNOVATION AS A CULTURE Innovation Propelling our Differentiation Strategy Independent Suspension ABS (Anti-Lock Brake) System Temp & Propane Sensors Gate Defender Jack OneControl On-The-Go Ladder Continuously developing new product innovations to meet increasing demand for technologically-advanced
Slide 7: Growth Strategy
GROWTH STRATEGY Growth progressed by innovation and demand Allocating Capital to Areas with the Integrating and Realizing Highest Growth Return Synergies from Recent • Investment in the business, with focus on automation Acquisitions projects • Realizing synergies from recent acquisitions as we • Re
Slide 8: Q1 2022 Financial Performance
Q1 2022 FINANCIAL PERFORMANCE Consolidated Net Sales Operating Margin Consolidated Net Sales by Market (in thousands) +84% $1,644,568 16.4% $1,000,258 RV OEM 10.1% First Quarter 2021 First Quarter 2022 First Quarter 2021 First Quarter 2022 +42% Adjacent OEM Consolidated Net Income EBITDA* +35% After
Slide 9: Liquidity and Cash Flow
LIQUIDITY AND CASH FLOW As of and for the three months ended March 31 2022 2021 Cash and Cash Equivalents $55M $63M Remaining Availability under Revolving Credit $130M $142M Facility(1) Capital Expenditures $42M $21M Dividends $23M $19M Debt / Net Income (TTM) 3.1x 3.9x Net Debt/EBITDA (TTM) 1.8x(2)
Slide 10: Appendix: Reconciliation of Non-GAAP Measures
APPENDIX Reconciliation of Non-GAAP Measures EBITDA Three Months Ended March 31, ($ in thousands) 2022 2021 Net Income $ 196,181 $ 74,120 Interest Expense, Net 6,252 2,705 Provision for Income Taxes 67,268 24,606 Depreciation and Amortization 31,812 24,516 EBITDA $ 301,513 $ 125,947 EBITDA is a non-
Slide 11: Q&A
LCI INDUSTRIES Q&A 1