LCI Industries (NYSE:LCII) Q2 2023 Earnings Conference Call August 8, 2023 8:30 AM ET
Company Participants
Lillian Etzkorn - EVP & CFO
Jason Lippert - CEO, President & Director
Conference Call Participants
Kathryn Thompson - Thompson Research Group
Frederick Wightman - Wolfe Research
Michael Swartz - Truist Securities
Brandon Rollé - D.A. Davidson & Co.
Daniel Moore - CJS Securities
Craig Kennison - Robert W. Baird & Co.
Bret Jordan - Jefferies
Scott Stember - ROTH MKM Partners
Operator
Good morning or good afternoon, all, and welcome to the LCI Industries Q2 2023 Earnings Call. My name is Adam, and I'll be your operator for today. [Operator Instructions].
I will now hand the floor over to Lillian Etzkorn to begin. So Lillian, please go ahead when you are ready.
Lillian Etzkorn
Good morning, everyone, and welcome to the LCI Industries' Second Quarter 2023 Conference Call. I am joined on the call today by Jason Lippert, President and CEO; and Kip Emenhiser, VP of Finance and Treasurer. We will discuss the results for the quarter in just a minute.
But first, I would like to inform you that certain statements made in today's conference call regarding LCI Industries and its operations may be considered forward-looking statements under the securities laws and involve a number of risks and uncertainties. As a result, the company cautions you that there are a number of factors, many of which are beyond the company's control, which could cause actual results and events to differ materially from those described in the forward-looking statements. These factors are discussed in our earnings release and in our Form 10-K and other filings with the SEC. The company disclaims any obligation or undertaking to update forward-looking statements to reflect circumstances or events that occur after the date that the forward-looking statements are made, except as required by law.
With that, I would like to turn the call over to Jason.
Jason Lippert
Thank you, Lillian. Good morning, everyone, and welcome to LCI's Second Quarter 2023 Earnings Call.
We delivered solid results in the second quarter, highlighted by continued content growth and sequential margin expansion as we navigate a challenging RV operating environment. Revenues were $1 billion, down 34% compared to the prior year, but up $41 million sequentially. Net sales from acquisitions completed in '23 and '22 contributed approximately $17 million for the quarter. While revenues are down compared to the record highs we reached in 2022, our results are still $386 million above the second quarter of 2019.