Lci Industries · NYSE:LCII
Lci Industries — Q2 2020 Earnings Presentation
11 slides from Lci Industries's earnings presentation, Aug 4, 2020
Slide 1: Second Quarter 2020 Earnings Conference Call
LCI INDUSTRIES LCI Industries Second Quarter 2020 Earnings Conference Call August 4, 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: Second Quarter 2020 Highlights
LCI INDUSTRIES Second Quarter 2020 Highlights Successfully resumed production across all facilities to meet accelerated RV demand, with record sales for June and July Significant year-over-year sales growth in Aftermarket and International markets, advancing diversification strategy and driving posi
Slide 4: RV OEM
LCI INDUSTRIES RV OEM • Retail demand recovered rapidly in June and into July following temporary production shutdowns, which impacted overall performance for the second quarter ◦ Q2 2020 RV OEM revenues down 38% YoY (wholesale shipments down 34% YoY) ◦ Sales in June and July up 39% and 53% respecti
Slide 5: Expanding Markets
LCI INDUSTRIES Expanding Markets Executing on our diversification strategy to reach goal of 40% North American RV OEM by 2022 Aftermarket Adjacent Markets International ◦ CURT sold a record number of hitches ◦ Marine experienced solid growth in ◦ Facilities overseas reopened after and continues to g
Slide 6: Second Quarter Innovation Highlights
LCI INDUSTRIES Second 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 building as it becomes more frequently requested and adopted amongst customers ◦ Tire pressure m
Slide 7: Growth Strategy
LCI INDUSTRIES Growth Strategy Integrating and Realizing Synergies from New Acquisitions ◦ In light of COVID-19, 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 spl
Slide 8: Q2 2020 Financial Performance
LCI INDUSTRIES Consolidated Net Sales by Market Q2 2020 Financial Performance (38)% Consolidated Net Sales Operating Margin RV OEM (in thousands) $629,068 $525,765 10.4% 4.0% (23)% Second Quarter 2019 Second Quarter 2020 Second Quarter 2019 Second Quarter 2020 ADJACENT OEM Consolidated Net Income Ad
Slide 9: Liquidity and Cash Flow
LCI INDUSTRIES Liquidity and Cash Flow Six Months Ended June 30, ($ in millions) 2020 2019 Cash, Cash Equivalents $62.3 $60.7 Remaining availability under Debt Facilities(1) $401.2 $557.1 Capital Expenditures $14.5 $35.8 Dividends $32.7 $31.3 Debt / Net Income (TTM) 6.6x(2) 1.8x(3) Net Debt / EBITDA
Slide 10: 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 Six Months Ended June 30, June 30, 2020 2019 2020 2019 (In thousands) Net income $ 13,186 $ 47,527 $ 41,400 $ 81,893 Interest expense, net 3,698 2
Slide 11: Q&A
LCI INDUSTRIES Q&A