LCI Industries (NYSE:LCII) Q2 2022 Earnings Conference Call August 2, 2022 8:30 AM ET
Company Participants
Brian Hall - EVP & CFO
Jason Lippert - CEO, President & Director
Conference Call Participants
Scott Stember - MKM Partners
Daniel Moore - CGS Security
Kathryn Thompson - Thompson Research Group
Bret Jordan - Jefferies
Michael Swartz - Truist Securities
Frederick Wightman - Wolfe Research
Operator
Thank you, everybody for your patience. We welcome you today to today's LCI Second Quarter 2022 Conference Call. My name is Drew and I'll be coordinating your call today. If you would like to ask a question during the call, please press staff followed by one on your telephone keypad. And if you change your mind, please press staff followed by two. I'm now going to hand over to Brian Hall to begin. Please go ahead.
Brian Hall
Good morning, everyone. And welcome to the LCI Industry's Second 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 would like to turn the call over to Jason Lippert. Jason.
Jason Lippert
Good morning, everyone. And welcome to LCI second quarter 2022 earnings call. Continuing on momentum from the beginning of the year, we deliver another quarter of incredible performance. Thanks to the solid competitive differentiation we have built up in our aftermarket, Europe, Marine and other adjacent industries, coupled with our culture innovation and customer experience. We are consistently finding ways to grow our value. As we continue to drive our diversification strategy forward, we are creating strong growing businesses, which greatly help mitigate the cyclicality of our RV OEM business, which we believe will generate great value for years to come. We ended the quarter with $1.5 billion in revenues, up 40% year over year with strong demand across the markets we serve to support double digit revenue growth in each of our core markets. Our recent acquisitions of Furrion, Girard, Trazcor and others added approximately $81 million in net sales for the quarter, helping expand our market share in new high growth markets.