LCI Industries: Initiation Of Coverage – Is The RV Recovery & The Strength In The Aftermarket Sector Here To Stay?

This is our first report on RV producer, Lippert (LCI Industries). In its Q4 2023 earnings, LCI Industries reported net revenue of $3.8 billion. This was a decline from the previous year’s revenue of $5.2 billion, mostly due to lower RV OEM and Marine industry production levels. Despite the challenging environment around the RV and Marine businesses, the company was able to maintain its market leading position through consistent execution on diversification priorities and operational discipline.