Lci Industries · NYSE:LCII
Lci Industries — Q3 2022 Earnings Presentation
13 slides from Lci Industries's earnings presentation, Nov 1, 2022
Slide 1: LCI Industries Q3 2022 Earnings Conference Call
LCI Industries Q3 2022 Earnings Conference Call November 1, 2022
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 2022 Highlights
Third Quarter 2022 Highlights Maintaining focus on diversification while driving content expansion Financial Performance Executing on Diversification ■ Net sales of $1.1 billion with net income of ■ Strength across businesses $61.4 million in the third quarter helping offset declines in RV OEM ■ 2%
Slide 4: RV OEM
RV OEM Quarterly Performance • 91,800 units shipped in Q3 2022 as retail demand softens • Q3 2022 North American RV OEM sales down (14)% YoY • Current 2022 forecast of 480 - 500k units implies 45-50% decrease in wholesale shipments in H2 2022 compared to record shipments in H1 2022 Content per Whole
Slide 5: Adjacent Markets
ADJACENT MARKETS Quarterly Performance • Q3 2022 NA Adjacent Industries sales up 20% YoY • Growth in marine and other adjacent industries continues to support effective diversification • New product introduction in marine supporting content expansion ◦ 46% growth in content per power boat (LTM basis
Slide 6: Aftermarket
AFTERMARKET Quarterly Performance • Q3 2022 sales flat YoY • Decline in automotive aftermarket sales largely offset by strength in RV and marine aftermarket sales • Ongoing portfolio expansion supported by innovative Furrion catalog • Customer experience leading towards innovative offerings by 1x1 e
Slide 7: International Business
INTERNATIONAL BUSINESS Quarterly Performance • Q3 2022 sales up 6% YoY • Diversified end market growth in rail and marine continue to propel international growth • Experiencing different consumer demand than North American business, offering geographic diversification • Maintaining focus on introduc
Slide 8: Innovation as a Culture
INNOVATION AS A CULTURE Innovating to drive record content expansion Independent Suspension ABS (Anti-Lock Brake) System Temp & Propane Sensors Gate Defender Jack OneControl On-The-Go Ladder Furrion Power Cord Set Continuously developing new product innovations to meet increasing demand for technolo
Slide 9: Growth Strategy
GROWTH STRATEGY Investing in innovation to win market share Allocating Capital to Areas with the Continue Execution of our Highest Growth Return Diversification Strategy • Investment in the business, with focus on automation • Benefit from continued sales growth in end projects markets unaffected by
Slide 10: Q3 2022 Financial Performance
Q3 2022 FINANCIAL PERFORMANCE * Additional information regarding EBITDA, as well as reconciliation of this non-GAAP financial measure to the most directly comparable GAAP financial measure, is provided in the Appendix. 10
Slide 11: Liquidity and Cash Flow
LIQUIDITY AND CASH FLOW As of and for the nine months ended September 30 2022 2021 Cash and Cash Equivalents $23M $73M Remaining Availability under Revolving Credit $369M $267M Facility(1) Capital Expenditures $104M $74M Dividends $76M $64M Debt / Net Income (TTM) 2.1x 4.3x Net Debt/EBITDA (TTM) 1.3
Slide 12: Appendix: Reconciliation of Non-GAAP Measures
APPENDIX Reconciliation of Non-GAAP Measures EBITDA Three Months Ended September 30, ($ in thousands) 2022 2021 Net Income $ 61,392 $ 63,401 Interest Expense, Net 6,910 4,667 Provision for Income Taxes 19,273 20,956 Depreciation and Amortization 32,247 28,941 EBITDA $ 119,822 $ 117,965 EBITDA is a n
Slide 13: Q&A
LCI INDUSTRIES Q&A 13