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LCI Industries Reports Third Quarter Financial Results
Growth in Adjacent Industries and Aftermarket; Strong Execution Drives Operating Margin Expansion
Third Quarter 2026 Highlights versus Third Quarter 2025
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Consolidated net sales of $992 million relative to $1,036 million
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Diversified businesses grew, with Adjacent Industries net sales growth of 7% and Aftermarket up 6%, partially mitigating lower RV OEM sales
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Operating profit margin expanded 30 bps to 7.6% from 7.3%
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Adjusted operating profit margin, which excludes the impacts of merger-related expenses and restructuring costs, expanded 100 bps to 8.3% from 7.3%
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Net income of $50 million, or 5.0% of net sales, relative to $62 million, or 6.0% of net sales
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Diluted earnings per share decreased 20% to $2.05 relative to $2.55
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Adjusted net income of $54 million; adjusted diluted EPS increased 12% to $2.21 from $1.97
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Adjusted EBITDA of $111 million, or 11.2% of net sales, up from $106 million, or 10.2% of net sales
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Towable RV content per unit up 6% to $5,733
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Cash flows from operations of $316 million for the LTM ended September 30, 2026
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$28 million returned to shareholders
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Strong liquidity position of $841 million, comprising $246 million of cash and cash equivalents and $595 million of availability on revolving credit facility at September 30, 2026
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As previously announced, on June 30, 2026, the Company entered into a definitive agreement to combine with Patrick Industries, Inc. in an all-stock merger. The Company will hold a special meeting of stockholders on November 18, 2026. Please visit www.PatrickandLippertTogether.com for more information.
ELKHART, Ind., November 05, 2026–(BUSINESS WIRE)–LCI Industries (NYSE: LCII), a leading supplier of engineered components to the recreation and transportation markets, today reported third quarter 2026 results.
“Our third-quarter results reflect continued progress in improving profitability in a soft outdoor recreation market. Margin expansion and 6% growth in product content per unit contributed to our performance and position us to achieve our updated full-year outlook,” said Johnny Sirpilla, Interim Chief Executive Officer. “Our 2026 performance has been driven by taking actions on those areas within our control. This includes the ongoing pursuit of operational efficiencies and strategic cost reductions. Our cost management and growth in adjacent industries and aftermarket sales contributed to our bottom line results and we believe leave us well-positioned as conditions normalize.”
Mr. Sirpilla continued, “Our new product pipeline and the repair and replacement needs of the installed RV base provide opportunities to serve customers even as demand for new units remains constrained. We are also advancing toward the proposed merger with Patrick Industries, which we continue to expect to close in the first half of 2027. Until that time, our focus remains on disciplined execution and strengthening the business under current market conditions, while driving long-term shareholder value.”
