Lci Industries · NYSE:LCII
Lci Industries — Q1 2020 Earnings Presentation
12 slides from Lci Industries's earnings presentation, May 8, 2020
Slide 1: First Quarter 2020 Earnings Conference Call
LCI INDUSTRIES LCI Industries First Quarter 2020 Earnings Conference Call May 5, 2020 1
Slide 2: Forward-Looking Statements and Non-GAAP Financial Measures
LCI INDUSTRIES 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 opportuniti
Slide 3: COVID-19 Response
LCI INDUSTRIES COVID-19 Response Taking steps to ensure the safety of team members and manage costs as we confront challenges brought on by COVID-19 Health and Safety Measures Cost Management Measures Resuming Production ◦ Temporarily suspended production at ◦ Reduced base salaries of CEO Jason ◦ Re
Slide 4: First Quarter 2020 Highlights
LCI INDUSTRIES First Quarter 2020 Highlights Outperformed a challenging macroeconomic environment to deliver double-digit sales growth Year-over-year growth in adjacent, aftermarket and international sales Completed the acquisition of Polyplastic Group and continuing to integrate our latest acquisit
Slide 5: RV OEM
LCI INDUSTRIES RV OEM • Despite strong RV OEM retail sales performing well in January and February, and dealers overcoming inventory issues from the prior year, challenges stemming from COVID-19 impacted performance ◦ Q1 2020 RV OEM revenues down 5% YoY (wholesale shipments up 4% YoY) due to loss of
Slide 6: Expanding Markets
LCI INDUSTRIES Expanding Markets Executing on our diversification strategy to reach goal of 40% RV OEM by 2022 Aftermarket Adjacent Markets International ◦ Integration of CURT Group ◦ Solidifying our position as the ◦ Completed the acquisition of progressing as planned, which predominant player for
Slide 7: First Quarter Innovation Highlights
LCI INDUSTRIES First Quarter Innovation Highlights Innovation: a critical part of our strategy ◦ Focus on innovative technology remains integral to our business ◦ Continuing to invest strategically in R&D to drive content growth and expand market share across all business categories ◦ Integrating ne
Slide 8: Growth Strategy
LCI INDUSTRIES Growth Strategy Integrating and Realizing Synergies from New Acquisitions ◦ Closed on the acquisition of Polyplastic Group and further integrated our six acquisitions from 2019 into the business ◦ In light of COVID-19, focusing on realizing new synergies from our most recent acquisiti
Slide 9: Q1 2020 Financial Performance
LCI INDUSTRIES Consolidated Net Sales by Market Q1 2020 Financial Performance (5)% Consolidated Net Sales Operating Margin RV OEM (in thousands) $592,172 $659,670 8.1% 6.7% +10% First Quarter 2019 First Quarter 2020 First Quarter 2019 First Quarter 2020 ADJACENT OEM Consolidated Net Income Adjusted
Slide 10: Liquidity and Cash Flow
LCI INDUSTRIES Liquidity and Cash Flow Three Months Ended March 31, ($ in millions) 2020 2019 Cash, Cash Equivalents $98.0 $35.4 Capacity Available under Debt Facilities $341.7 $481.8 Capital Expenditures $8.0 $24.4 Dividends $16.3 $15.0 Debt / Net Income (TTM) 5.5x(1) 4.6x(2) Debt / EBITDA (TTM) 2.
Slide 11: Reconciliation of Non-GAAP Measures
LCI INDUSTRIES Reconciliation of Appendix A Non-GAAP Measures The following table reconciles net income to EBITDA and Adjusted EBITDA. Three Months Ended March 31, 2020 2019 (In thousands) Net income $ 28,214 $ 34,366 Interest expense, net 5,197 2,507 Provision for income taxes 10,855 10,882 Depreci
Slide 12: Q&A
LCI INDUSTRIES Q&A