LCI Industries Reports Earnings Results for the Third Quarter and Nine Months Ended September 30, 2023
November 07, 2023 at 12:23 pm EST
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LCI Industries reported earnings results for the third quarter and nine months ended September 30, 2023. For the third quarter, the company reported sales was USD 959.32 million compared to USD 1,132.08 million a year ago. Net income was USD 25.89 million compared to USD 61.39 million a year ago. Basic earnings per share from continuing operations was USD 1.02 compared to USD 2.41 a year ago. Diluted earnings per share from continuing operations was USD 1.02 compared to USD 2.4 a year ago.
For the nine months, sales was USD 2,947.26 million compared to USD 4,312.8 million a year ago. Net income was USD 66.57 million compared to USD 412.1 million a year ago. Basic earnings per share from continuing operations was USD 2.63 compared to USD 16.23 a year ago. Diluted earnings per share from continuing operations was USD 2.62 compared to USD 16.15 a year ago.
LCI Industries, through its wholly owned subsidiary, Lippert Components, Inc. (Lippert), supplies, domestically and internationally, a broad array of engineered components for the original equipment manufacturers (OEMs) in the recreation and transportation markets. The Company's segments include OEMs and the Aftermarket. The OEMs segment manufactures and distributes a broad array of engineered components for the OEMs of RVs and adjacent industries, including boats; buses; trailers used to haul boats, livestock, equipment, and other cargo; trucks; trains; manufactured homes; and modular housing. The Aftermarket Segment supplies many of these engineered components to the related aftermarket channels of the recreation and transportation markets, primarily to retail dealers, wholesale distributors, and service centers, as well as direct to retail customers via the Internet. Lippert's products include steel chassis and related components, axles and suspension solutions, and others.