LCI Beats on Adjusted EPS but October Sales Fall 10% as RV Demand Stays Soft
LCII sits 34% above its 52-week low of $77.58 on elevated volume (2.8× avg).
Summary
Adjusted EPS came in at $2.21 versus $1.97 a year ago, and adjusted EBITDA rose to $111.5 million from $105.9 million, so the cost-cutting and pricing work is showing up in the numbers even as sales slipped. Net sales fell to $992.5 million from $1,036.5 million as RV OEM sales dropped 17%, partly offset by 7% growth in adjacent industries and 6% growth in aftermarket. GAAP net income fell to $50.1 million, or $2.05 per diluted share, from $62.5 million, or $2.55, with $5.1 million of merger expenses and $2.4 million of restructuring costs weighing on the quarter. The guidance is the part that matters: October net sales are running at roughly $341 million, down 10% year over year, and the full-year RV shipment range was trimmed to 285,000-295,000 units with revenue of $3.9-4.0 billion and adjusted EPS of $8.25-$8.50. That keeps the soft-demand story intact heading into the November 18 stockholder vote on the all-stock Patrick Industries merger, which management still expects to close in the first half of 2027.
At the time of this announcement, LCII was trading at $104.28 on NYSE in the Manufacturing sector, with a market capitalization of approximately $2.5B. The 52-week trading range was $77.58 to $159.66. This news item was assessed with neutral market sentiment and an importance score of 7 out of 10. Source: BusinessWire.