LCI Industries reported third quarter 2026 revenue of $992.5 million, slightly exceeding analyst expectations despite a sharp decline in broader RV wholesale volumes. While GAAP EPS of $2.05 missed the consensus estimate by one cent, adjusted EPS grew 12% year-over-year to $2.21. Management's focus on diversification into adjacent industries and aftermarket segments helped mitigate a 17% decline in RV OEM sales, allowing the company to expand adjusted operating margins by 100 basis points.
Key Highlights
- Towable RV content per unit increased 6% to $5,733, reflecting successful market share gains and price index adjustments.
- Adjusted operating profit margin expanded to 8.3% from 7.3% last year, driven by operational efficiencies and material sourcing strategies.
- Aftermarket segment sales rose 6% to $260.2 million, supported by growth in the automotive aftermarket and repair demand.
- Adjacent Industries OEM net sales grew 7% to $342.4 million, led by strength in the bus, marine, and manufactured housing sectors.