Lci Inds Stock Price, News & Analysis

LCI Industries (NYSE: LCII) announced a quarterly cash dividend of $0.90 per share, payable on June 18, 2021. Shareholders on record as of June 4, 2021, will qualify for this dividend. The company, through its subsidiary Lippert, supplies engineered components to OEMs in the recreation and transportation sectors, including trailers, boats, and manufactured homes. LCI has a broad product portfolio ranging from chassis and axles to entry systems and accessories.

LCI Industries (NYSE: LCII) has priced $400 million in 1.125% convertible senior notes due 2026 in a private placement aimed at qualified institutional buyers. The notes, maturing on May 15, 2026, feature an initial conversion rate of 6.0369 shares per $1,000 principal amount, representing a 27.5% premium over the recent stock price. The company intends to use proceeds for entering into hedge transactions, repaying revolving credit, and general corporate purposes. The closing is expected on May 13, 2021, with an option for purchasers to buy an additional $60 million in notes.

LCI Industries (NYSE: LCII) announced plans for a private offering of $400 million in convertible senior notes due 2026. The notes, subject to market conditions, may have an additional $60 million option. They will be unsecured with a semi-annual interest, and can be converted under specific conditions starting January 15, 2026. Proceeds will fund convertible note hedge transactions, repay credit facilities, and for general corporate purposes. The offering has not been registered under the Securities Act, and its impact on stock value depends on market conditions.

LCI Industries (LCII) reported first quarter 2021 results, achieving record revenues of $1 billion, a 52% increase from $659.7 million in Q1 2020. Net income surged to $74.1 million ($2.93 per diluted share) from $28.2 million ($1.12 per share) year-over-year. The growth was fueled by strong RV retail demand and a booming aftermarket business, which has tripled in size over three years. Despite operational challenges, the company remains confident in its market position and liquidity, with $63.3 million in cash as of March 31, 2021, and compliance with debt covenants.

LCI Industries (NYSE: LCII) announced the acquisition of 100% of Schaudt GmbH, a leading supplier of electronic controls for the European Caravan Industry. This acquisition, part of Lippert's European strategy, aims to enhance local operations in Germany and support key customers. Schaudt will serve as the hub for Lippert's German operations, aligning its technology solutions with Lippert Technologies. The acquisition is expected to strengthen customer relationships and improve service delivery in the European RV market.

LCI Industries (NYSE: LCII) will release its first-quarter 2021 financial results on May 4, 2021, before the market opens. A conference call will be held the same day at 8:30 a.m. ET, focusing on the results and business matters, with a Q&A session for institutional investors and analysts. The call can be accessed by calling specific numbers for participants in the U.S. and outside. LCI Industries provides a range of engineered components for OEMs in the recreation and transportation sectors through its subsidiary, Lippert.

LCI Industries (NYSE: LCII) has announced its acquisition of Kaspar Ranch Hand Equipment, LLC, a prominent manufacturer specializing in custom bumpers and accessories for the automotive aftermarket. This strategic acquisition aims to strengthen Lippert's position in the automotive accessory market, expanding its portfolio following the CURT Group acquisition in 2019. Ranch Hand's products are recognized for their safety features and premium quality, which are expected to complement Lippert's existing offerings. The acquisition aligns with Lippert's growth strategy and commitment to the automotive sector.

LCI Industries (NYSE: LCII) expects first quarter 2021 net sales of approximately $1.0 billion, reflecting a remarkable 50% increase from Q1 2020. This growth is driven by exceptional demand in the outdoor recreation sector. The financial results are preliminary and will be finalized in the upcoming earnings release and Form 10-Q, expected in early May 2021. President and CEO Jason Lippert highlighted the company's ability to capitalize on new growth opportunities while managing supply chain constraints.

LCI Industries (NYSE: LCII) has appointed Stephanie Mains as an independent director on its Board. Mains brings a wealth of experience, having previously served as Interim President and CEO of GE Power Conversion and President and CEO of ABB Industrial Solutions. She has held various executive roles in GE Energy and currently sits on the boards of several companies. Her extensive operational background is expected to significantly benefit LCI Industries and its stakeholders.