Delayed Nyse  -  04:00 2022-07-05 pm EDT
119.98 USD   +4.73%
06/24LCI INDUSTRIES(NYSE : LCII) added to Russell 2000 Dynamic Index
06/23LCI INDUSTRIES : Lippert and Fontaine Modification Introduce the LUVERNE Two-Inch Tubular Grille Guard for Chevrolet Silverado Medium-Duty Trucks
06/07LCI INDUSTRIES : Regulation FD Disclosure (form 8-K)
SummaryMost relevantAll NewsAnalyst Reco.Other languagesPress ReleasesOfficial PublicationsSector newsMarketScreener Strategies

LCI Industries Announces Share Repurchase Authorization

05/19/2022 | 04:17pm EDT

LCI Industries (NYSE: LCII) (the “Company”) which, through its wholly-owned subsidiary, Lippert Components, Inc. (“Lippert”), supplies, domestically and internationally, a broad array of highly engineered components for the leading original equipment manufacturers (“OEMs”) in the recreation and transportation product markets, and the related aftermarkets of those industries, today announced that its Board of Directors has authorized a new $200 million stock repurchase program over the next three years.

“This repurchase program demonstrates the Board of Directors’ and senior management’s commitment to deploying capital that will create value for shareholders, underscoring our confidence in LCI’s long-term growth objectives. Our strong operating cash flows, balance sheet, and borrowing capacity give us the flexibility to return capital to shareholders while making further investments in our business to drive growth and innovation, pursue strategic acquisitions, and maintain appropriate debt levels,” said Jason Lippert, LCI Industries’ President and Chief Executive Officer.

The timing of stock repurchases and the number of shares will depend upon the market conditions and other factors. Share repurchases, if any, will be made in the open market and in privately negotiated transactions in accordance with applicable securities laws. The stock repurchase program may be modified, suspended, or terminated at any time by the Board of Directors. Repurchases under the stock repurchase program will be funded from the Company’s existing cash and cash equivalents, future cash flows, and its existing revolving line of credit.

About LCI Industries

LCI Industries, through its wholly-owned subsidiary, Lippert, manufactures and supplies, domestically and internationally, a broad array of highly engineered components for the leading OEMs in the recreation and transportation product markets, consisting primarily of recreational vehicles and adjacent industries, including buses; trailers used to haul boats, livestock, equipment, and other cargo; trucks; boats; trains; manufactured homes; and modular housing. The Company also supplies engineered components to the related aftermarkets of these industries, primarily by selling to retail dealers, wholesale distributors, and service centers. Lippert's products include steel chassis and related components; axles and suspension solutions; slide-out mechanisms and solutions; thermoformed bath, kitchen, and other products; vinyl, aluminum, and frameless windows; manual, electric, and hydraulic stabilizer and leveling systems; entry, luggage, patio, and ramp doors; furniture and mattresses; electric and manual entry steps; awnings and awning accessories; towing products; truck accessories; electronic components; appliances; air conditioners; televisions and sound systems; and other accessories. Additional information about Lippert and its products can be found at

Forward-Looking Statements

This press release contains certain "forward-looking statements" with respect to our financial condition, results of operations, business strategies, operating efficiencies or synergies, competitive position, growth opportunities, acquisitions, plans and objectives of management, markets for the Company's common stock, the impact of legal proceedings, and other matters. Statements in this press release that are not historical facts are "forward-looking statements" for the purpose of the safe harbor provided by Section 21E of the Securities Exchange Act of 1934, as amended, and Section 27A of the Securities Act of 1933, as amended, and involve a number of risks and uncertainties.

Forward-looking statements, including, without limitation, those relating to our future business prospects, net sales, expenses and income (loss), capital expenditures, tax rate, cash flow, financial condition, liquidity, covenant compliance, retail and wholesale demand, integration of acquisitions, R&D investments, and industry trends, whenever they occur in this press release are necessarily estimates reflecting the best judgment of the Company's senior management at the time such statements were made. There are a number of factors, many of which are beyond the Company's control, which could cause actual results and events to differ materially from those described in the forward-looking statements. These factors include, in addition to other matters described in this press release, the impacts of COVID-19, or other future pandemics, on the global economy and on the Company's customers, suppliers, employees, business and cash flows, pricing pressures due to domestic and foreign competition, costs and availability of, and tariffs on, raw materials (particularly steel and aluminum) and other components, seasonality and cyclicality in the industries to which we sell our products, availability of credit for financing the retail and wholesale purchase of products for which we sell our components, inventory levels of retail dealers and manufacturers, availability of transportation for products for which we sell our components, the financial condition of our customers, the financial condition of retail dealers of products for which we sell our components, retention and concentration of significant customers, the costs, pace of and successful integration of acquisitions and other growth initiatives, availability and costs of production facilities and labor, team member benefits, team member retention, realization and impact of expansion plans, efficiency improvements and cost reductions, the disruption of business resulting from natural disasters or other unforeseen events, the successful entry into new markets, the costs of compliance with environmental laws, laws of foreign jurisdictions in which we operate, other operational and financial risks related to conducting business internationally, and increased governmental regulation and oversight, information technology performance and security, the ability to protect intellectual property, warranty and product liability claims or product recalls, interest rates, oil and gasoline prices and availability, the impact of international, national and regional economic conditions and consumer confidence on the retail sale of products for which we sell our components, and other risks and uncertainties discussed more fully under the caption "Risk Factors" in the Company's Annual Report on Form 10-K for the year ended December 31, 2021, and in the Company's subsequent filings with the Securities and Exchange Commission. Readers of this press release are cautioned not to place undue reliance on these forward-looking statements, since there can be no assurance that these forward-looking statements will prove to be accurate. The Company disclaims any obligation or undertaking to update forward-looking statements to reflect circumstances or events that occur after the date the forward-looking statements are made, except as required by law.

© Business Wire 2022
All news about LCI INDUSTRIES
06/24LCI INDUSTRIES(NYSE : LCII) added to Russell 2000 Dynamic Index
06/23LCI INDUSTRIES : Lippert and Fontaine Modification Introduce the LUVERNE Two-Inch Tubular ..
06/07LCI INDUSTRIES : Regulation FD Disclosure (form 8-K)
06/02LCI INDUSTRIES : Ex-dividend day for
05/31LCI INDUSTRIES : Lippert Staying Ahead of Industry Trends with Acquisition of RV Tent Comp..
05/31INSIDER SELL : Lci Industries
05/23LCI INDUSTRIES : Lippert Names Sundar Ananthasivan Senior Vice President of Aftermarket En..
05/19LCI Industries' Board Approves $200 Million Share Repurchase Plan, Raises Quarterly Div..
05/19LCI INDUSTRIES : Regulation FD Disclosure (form 8-K)
05/19LCI INDUSTRIES : Other Events, Financial Statements and Exhibits (form 8-K)
More news
Analyst Recommendations on LCI INDUSTRIES
More recommendations
Financials (USD)
Sales 2022 5 567 M - -
Net income 2022 465 M - -
Net Debt 2022 - - -
P/E ratio 2022 6,27x
Yield 2022 3,27%
Capitalization 2 912 M 2 912 M -
Capi. / Sales 2022 0,52x
Capi. / Sales 2023 0,56x
Nbr of Employees 13 900
Free-Float 86,4%
Duration : Period :
LCI Industries Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends LCI INDUSTRIES
Short TermMid-TermLong Term
Income Statement Evolution
Mean consensus BUY
Number of Analysts 7
Last Close Price 114,56 $
Average target price 149,00 $
Spread / Average Target 30,1%
EPS Revisions
Managers and Directors
Jason Douglas Lippert President, Chief Executive Officer & Director
Brian Michael Hall Chief Financial Officer & Executive Vice President
Tracy D. Graham Chairman
Ryan Richard Smith Senior Vice President-Operations
Jamie M. Schnur Chief Administrative Officer
Sector and Competitors
1st jan.Capi. (M$)
LCI INDUSTRIES-26.50%2 912
POLARIS INC.-8.08%6 011
BRP INC.-28.50%5 007
YETI HOLDINGS, INC.-46.17%3 842