- LCI Industries (NYSE:LCII) reported second-quarter FY22 sales growth of 40% year-on-year to $1.54 billion, beating the consensus of $1.45 billion.
- Revenue growth was primarily driven by price realization, market share gains, acquisitions, and increased wholesale shipments.
- North American RV OEM sales grew 58% Y/Y to $864.3 million, driven by wholesale shipments and market share gains.
- North American adjacent industries OEM sales increased 39% Y/Y to $323.7 million.
- Gross profit rose 58.8% Y/Y to $409.1 million. Operating profit for the quarter rose 132.7% to $218.8 million.
- The company held $55 million in cash and equivalents as of June 30, 2022. Net cash flows provided by operating activities for the six months totaled $347.9 million.
- EBITDA increased 108% Y/Y to $250.7 million.
- EPS of $6.06 beat the consensus of $5.17.
- July 2021 net sales increased 5% to $368.4 million.
- Price Action: LCII shares are trading lower by 1.84% at $125.94 on the last check Tuesday.
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