Lci Industries · NYSE:LCII
Lci Industries — Q3 2020 Earnings Presentation
11 slides from Lci Industries's earnings presentation, Nov 2, 2020
Slide 1: LCI Industries Third Quarter 2020 Earnings Conference Call
LCI INDUSTRIES LCI Industries Third Quarter 2020 Earnings Conference Call November 2, 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: Third Quarter 2020 Highlights
LCI INDUSTRIES Third Quarter 2020 Highlights Leveraged leading production capabilities to capture record RV industry retail demand, driving double digit sales and EPS growth Substantial growth in Aftermarket and International markets, significantly advancing diversification strategy Generated solid
Slide 4: RV OEM
LCI INDUSTRIES RV OEM • Retail demand continued its historical momentum throughout the quarter, expected to remain at elevated levels heading into 2021 ◦ Q3 2020 RV OEM revenues up 32% YoY (wholesale shipments up 37% YoY) ◦ Total consolidated net sales in September and October up 43% and 25% respect
Slide 5: Expanding Markets
LCI INDUSTRIES Expanding Markets Executing on our diversification strategy to reach goal of 40% North American RV OEM by 2022 Currently at less than 51% of total net sales for the TTM ended September 30, 2020 Aftermarket Adjacent Markets International ◦ Aftermarket Q3 sales up 149% YoY ◦ Adjacent in
Slide 6: Third Quarter Innovation Highlights
LCI INDUSTRIES Third Quarter Innovation Highlights Innovation: a critical part of our strategy ◦ R&D expertise and innovation remains a core component of LCI’s long-term strategy ◦ Demand for OneControl continues to build as OEMs increasingly adopt electric versus manual products ◦ Synergies within
Slide 7: Growth Strategy
LCI INDUSTRIES 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 m
Slide 8: Q3 2020 Financial Performance
LCI INDUSTRIES Consolidated Net Sales by Market YoY Q3 2020 Financial Performance +32% Consolidated Net Sales Operating Margin RV OEM (in thousands) +11% $827,729 11.4% $586,221 8.4% ADJACENT OEM Third Quarter 2019 Third Quarter 2020 Third Quarter 2019 Third Quarter 2020 +149% Consolidated Net Incom
Slide 9: Liquidity and Cash Flow
LCI INDUSTRIES Liquidity and Cash Flow As of and for the Nine Months Ended September 30, ($ in millions) 2020 2019 Cash, Cash Equivalents $68.2 $27.5 Remaining availability under Debt Facilities(1) $460.9 $548.7 Capital Expenditures $28.7 $47.8 Dividends $51.5 $47.5 Debt / Net Income (TTM) 4.6x(2) 1
Slide 10: Reconciliation of Appendix A 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 Nine Months Ended September 30, September 30, 2020 2019 2020 2019 (In thousands) Net income $ 68,347 $ 35,809 $ 109,747 $ 117,702 Interest expense
Slide 11: Q&A
L C I I N D U S T R I E S Q&A