LCI Industries (NYSE:LCII) Q1 2022 Earnings Conference Call May 10, 2022 8:30 AM ET

Company Participants

Brian Hall – Executive Vice President and Chief Financial Officer

Jason Lippert – President and Chief Executive Officer

Conference Call Participants

Kathryn Thompson – Thompson Research Group

Scott Stember – MKM Partners

Daniel Moore – CJS Securities

Fred Wightman – Wolfe Research

Ethan Huntley – Jefferies

Brandon Rolle – D.A. Davidson

Operator

Hello everyone and welcome to today’s First Quarter 2022 LCI Industries’ Earnings Conference Call. My name is Emma, and I will be coordinating your call today. [Operator Instructions]

I’ll now pass the call over to Brian Hall to begin. Please go ahead Brian.

Brian Hall

Good morning, everyone, and welcome to the LCI Industries’ first 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 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 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

Thanks, Brian, and good morning, everyone, and welcome to LCI’s first quarter 2022 earnings call. On the heels of an amazing 2021 we carry forward our momentum to deliver record top line and earnings performance. Our wide range of innovative offerings, coupled with our ongoing focus to providing best-in-class customer service and experience continue to be key competitive differentiators, accelerating growth in our aftermarket, marine and adjacent businesses alongside RV. As these other businesses continue to flourish, we are reinforcing our ability to drive countercyclical growth, helping position us to deliver strong profitability over the long term.

We ended the quarter with a record $1.6 billion in revenues up 64% year-over-year with strong demand across the markets we serve supporting double-digit revenue growth in each of our core markets. Our recent acquisitions added approximately $79 million in net sales for the quarter helping expand our market share.