LCI Industries (NYSE:LCII) Q3 2022 Earnings Conference Call November 1, 2022 8:30 AM ET
Company Participants
Brian Hall - EVP & CFO
Jason Lippert - President, CEO & Director
Conference Call Participants
Kathryn Thompson - Thompson Research Group
Fred Wightman - Wolfe Research
Craig Kennison - Baird
Scott Stember - MKM Partners
Daniel Moore - CJS Securities
Mike Swartz - Truist Securities
Brandon Rolle - D.A. Davidson
Patrick Buckley - Jefferies
Operator
Good morning, and welcome to today's LCI Industries Third Quarter 2022 Earnings Call. My name is Bailey and I'll be your moderator for today's call. All lines will be muted during the presentation portion with an opportunity for questions and answers at the end. [Operator Instructions].
I would now like to go ahead and pass the conference over to Brian Hall. Sir, please go ahead when you're ready.
Brian Hall
Good morning, everyone, and welcome to the LCI Industries third quarter 2022 conference call. I am joined on the call today by Jason Lippert, President, CEO, and Director. We will discuss the results for the quarter in just a moment.
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 would 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 the forward-looking statements are made except as required by law.
With that, I'd like to turn the call over to Jason Lippert.
Jason Lippert
Good morning, everyone. Thanks, Brian.
I'd like to start off by thanking our teams across the business for their dedication and hard work they've put in this quarter to drive our business forward. As a company, LCI has been laser-focused on building a portfolio that will help position us for the profitable growth in any operating environment through the steadfast execution of our diversification strategy, coupled with a company-wide commitment to innovation.
Well, we are seeing softened RV demand due to the overbuilding of inventory and continued macroeconomic challenges, we were able to largely overcome the nearly 40% drop in North American RV OEM production in the third quarter through strong performance in our diversified portfolio of Marine, RV aftermarket and other adjacent market-focused businesses.