LCI Beats Q3 Estimates With $2.21 Adjusted EPS Despite 4.2% Sales Decline
LCII sits 32% above its 52-week low of $77.58.
Summary
LCI posted Q3 adjusted EPS of $2.21, beating the $2.07 consensus, even though revenue slipped 4.2% to $992.48 million on weaker RV shipments. Sales still edged past the $990.98 million analysts expected, and margin expansion lifted adjusted profit 12% year over year. Reported net income was $50.09 million, or $2.05 per share, weighed down by $19.2 million of merger costs. The beat is modest and comes as four analysts cut estimates in the past 30 days, with the consensus EPS estimate down about 8.9% over three months. The bigger story remains the November 18 stockholder vote on the all-stock Patrick merger, which the board is defending against Monomoy's rejected $101-a-share cash bid.
At the time of this announcement, LCII was trading at $102.03 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 positive market sentiment and an importance score of 7 out of 10. Source: Reuters.