Recent Updates — LCII
LCI Industries reported third-quarter net sales of approximately $1 billion, a 4% decline year-over-year driven by lower RV wholesale shipments, partially offset by growth in aftermarket and adjacent industries. Adjusted diluted earnings per share were $2.21, up from $1.97 in the prior year period, supported by a 100 basis point expansion in adjusted operating margin to 8.3%. The company also paid a quarterly dividend of $1.15 per share and reaffirmed its full-year 2026 adjusted revenue guidance of $3.9 billion to $4 billion and adjusted EPS range of $8.25 to $8.50. LCI Industries manufactures components and accessories for the recreational vehicle, marine, and transportation industries.
LCI Industries reported third-quarter 2026 consolidated net sales of $992 million, a decrease from $1,036 million in the same period last year, driven by lower North American RV wholesale shipments. Net income fell to $50 million, or $2.05 per diluted share, compared to $62 million, or $2.55 per diluted share, previously. Adjusted net income rose 12% to $54 million, or $2.21 per diluted share, while adjusted EBITDA increased to $111 million. The company maintained its full-year revenue guidance of $3.9 billion to $4.0 billion and reaffirmed an adjusted EPS outlook of $8.25 to $8.50. LCI Industries is a leading supplier of engineered components to the outdoor recreation, housing, and transportation markets.
LCI Industries announced that its Board of Directors unanimously determined an unsolicited, non-binding proposal from Monomoy Capital Partners to acquire the company for $101 per share in cash does not constitute a superior offer. The board cited a standalone discounted cash flow valuation exceeding $150 per share and significant value creation from the pending merger with Patrick Industries, which includes approximately $150 million of net run-rate cost synergies. LCI reiterates its support for the Patrick transaction, targeting completion in the first half of 2027 subject to shareholder approval at a special meeting on November 18, 2026, and regulatory clearances. The company operates as a global supplier of engineered components to the outdoor recreation and transportation markets.
LCI Industries confirmed receipt of an unsolicited, non-binding proposal from Monomoy Capital Partners to acquire all outstanding shares for $101 in cash. The company is already in the process of merging with Patrick Industries in an all-stock transaction agreed upon in June 2026. LCI's Board continues to recommend the Patrick deal but has a fiduciary duty to evaluate the Monomoy offer and will update shareholders in due course. Investors are advised to take no action regarding the new proposal at this time. LCI Industries is a global leader supplying engineered components to the outdoor recreation and transportation markets.
The U.S. Department of Justice issued a Second Request for additional information and documentary material regarding the proposed merger between LCI Industries and Patrick Industries. This regulatory action extends the Hart-Scott-Rodino waiting period until 30 days after both parties substantially comply, unless terminated earlier by the DOJ or extended by agreement. The companies intend to cooperate with the review process. Completion of the transaction remains subject to the satisfaction of closing conditions, including antitrust approvals. LCI Industries manufactures components and systems for the recreational vehicle industry.