Lci Inds Stock Price, News & Analysis

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.

LCI Industries (NYSE: LCII) has promoted Eileen Pruitt to Deputy Chief Human Resources Officer and Senior Legal Counsel. In her new role, she will collaborate with Nick Fletcher, Chief Human Resources Officer, to execute global HR strategies for over 10,000 employees and manage employment-related legal matters. Pruitt, with a J.D. and B.A. from Notre Dame, previously practiced law at a national firm representing corporate clients. Her promotion aligns with Lippert’s succession planning and aims to ensure leadership continuity as the company pursues its business strategy.

LCI Industries (NYSE: LCII) has announced a quarterly cash dividend of $0.75 per share, payable on March 26, 2021, to stockholders of record on March 12, 2021. The company, through its subsidiary Lippert Components, supplies a range of engineered components primarily for recreation and transportation OEMs, including trailers, buses, and boats. This dividend reflects the company's ongoing commitment to return value to shareholders while navigating industry challenges.

LCI Industries (NYSE: LCII) reported strong financial results for Q4 and the full year 2020, achieving record annual net sales of $2.8 billion, an 18% increase from 2019. Q4 net sales rose to $783 million, a 39% increase year-over-year. Net income for 2020 was $158.4 million or $6.27 per diluted share. The company successfully navigated supply chain challenges, capitalizing on high RV demand and executing a diversification strategy through acquisitions. January 2021 net sales were approximately $309 million, up 38% from January 2020.

LCI Industries (NYSE: LCII) will release its fourth-quarter and year-end 2020 financial results on February 9, 2021, before market open. A conference call to discuss the results, led by CEO Jason Lippert and CFO Brian Hall, is scheduled for 8:30 a.m. ET the same day. Participation will be limited to institutional investors and analysts, with a Q&A session following the presentation. Investors can listen via telephone or a live webcast available on LCI's investor website. A replay of the call will be accessible for two weeks after.

LCI Industries (NYSE: LCII), through its subsidiary Lippert Components, has acquired Veada Industries, a manufacturer of marine seating and accessories, expanding its marine product capabilities. This acquisition, the fifth in the marine sector since 2015, positions LCI to better meet the growing demand for marine products. Veada brings over 50 years of experience and will complement LCI's existing offerings, providing enhanced solutions to OEM marine customers. The leadership team of Veada is expected to synergize with LCI, addressing capacity challenges in the industry.

LCI Industries (NYSE: LCII) announced the acquisition of substantially all business assets of Challenger Door, LLC, a leading RV door manufacturer. The deal aims to enhance LCI's growth by expanding product offerings and improving customer service within the booming recreational products market. CEO Jason Lippert highlighted Challenger Door's innovative products and strong customer commitment as significant benefits for LCI’s operations. This acquisition positions LCI to better support its customers and capitalize on growth opportunities in the RV industry.

LCI Industries (NYSE: LCII) has announced a quarterly cash dividend of $0.75 per share of common stock, payable on December 18, 2020, to shareholders of record by December 4, 2020. The company, through its subsidiary, Lippert Components, Inc., supplies engineered components for OEMs in recreation and transportation markets, including RVs, buses, trailers, and more. LCI operates over 90 manufacturing facilities across North America and Europe, emphasizing its broad market reach.

LCI Industries reported a record third quarter 2020, achieving 41% revenue growth to $827.7 million and 91% earnings growth, with net income rising to $68.3 million or $2.70 per share. The growth was driven by strong demand in the RV sector and strategic acquisitions, contributing $99 million to net sales. Adjusted EBITDA reached $119.4 million, a significant increase from last year's $67.9 million. As of September 30, 2020, cash and cash equivalents increased to $68.2 million. LCI expects continued strong performance into 2021, leveraging operational capabilities and innovation.