LCI reported net sales of $547 million in the fourth quarter, a 36 percent year-over-year increase, and a sales growth for fiscal 2017 of $469 million to a record of $2.1 billion.
“We exceeded $2.1 billion in net sales in 2017, just four years after reaching $1 billion,” said Jason Lippert, CEO of LCI. “We are achieving record top and bottom line numbers, and we are doing it at a time when labor and materials environments are particularly challenging. Our continuing growth story is a testament to the focus of our more than 11,000 team members.”
Content per travel trailer and fifth-wheel RV increased $241 to $3,263 in 2017, and content per motorhome RV increased $208 to $2,219.
The Jan. 26 acquisition of Taylor Made Group is expected to add $154 million of net sales in 2018.
“The RV industry growth trend in 2017 remained strong as wholesale RV shipments were up 19 percent in the fourth quarter,” said Lippert. “Orders appear to be strong going into 2018 as dealer sentiment remains bullish, as evidenced by the recent Tampa RV show, and OEMs continue to add capacity to meet demand. We also continue to see strong growth in our aftermarket and adjacent market sales. Aftermarket sales reached $171 million in 2017, up 31 percent from 2016. We remain optimistic, as January 2018 consolidated net sales are approximately $205 million, 35 percent higher than January 2017.”
“Recent acquisitions contributed $42 million in net sales in 2017,” said said Scott Mereness, LCI’s president, “and we anticipate the recent acquisition of Taylor Made Group will add revenue of $154 million in 2018.”
The increase in year-over-year net sales reflects industry-wide growth in wholesale shipments of towable and motorized RVs by OEMs, which increased 20 percent and 16 percent, respectively, in the fourth quarter of 2017.
The organic growth rate was 31 percent for the fourth quarter and acquisitions provided the remainder of the 36 percent increase.
