LCI Industries has reported net sales of $650 million in the first quarter of 2018, a 31 percent year-over-year increase. Content per travel trailer and fifth wheel increased $259 year-over-year to $3,317 in the first quarter, while content per motorhome increased $306 year-over-year to $2,328 in the first quarter.
“We experienced strong sales growth in our engineered products for leisure and mobile transportation as reflected in our record $650 million sales for the first quarter,” said LCI’s CEO, Jason Lippert. “Adjacent OEM market sales grew to $142 million for the quarter, up 50 percent from the first quarter of 2017. Aftermarket sales rose to $50 million in the first quarter of 2018, up 39 percent from the first quarter of 2017. We remain optimistic, as April 2018 consolidated net sales are approximately $245 million, 46 percent higher than April 2017. … Industry growth continued its trend from 2017 and remained strong as wholesale RV shipments were up 13 percent in the first quarter.”
“Our content per travel trailer and fifth wheel increased eight percent year-over-year, the largest annual increase since 2012, and our content per motorhome increased 15 percent year-over-year, representing our fourth straight year of double-digit content growth for motorhomes,” said Scott Mereness, LCI’s president. “We continue to invest in lean manufacturing and automation to improve the efficiency of our operations and meet industry growth demands while managing one of the most volatile commodities environments in recent history due to the new steel and aluminum tariffs. Although operating margin improved from the last two quarters of 2017, raw materials inflation, at least partially caused by the new tariffs, more than offset the margin improvement from our operational and pricing initiatives.”
Acquisitions of Taylor Made Group and Hehr are expected to add approximately $205 million of net sales to the OEM adjacent industries and aftermarket segment for the fiscal year 2018.
