LCII - LCI Industries' preliminary Q4 revenue earnings miss estimates

January, 25 2023 05:16 PM LCI Industries

LCI Industries ( NYSE: LCII ) on Wednesday provided preliminary Q4 revenue and earnings figures that missed estimates.
Elkhart, Ind.-based LCII makes engineered components for original equipment manufacturers (OEMs) in the RV and transportation markets.
The company said it expects Q4 2022 net sales to range from $890M to $900M, significantly below the consensus revenue estimate of $924.68M.
LCII said Q4 EPS was expected to be a loss of $0.62 to $0.73. The consensus EPS estimate is for a profit of $0.87.
"During the fourth quarter, RV OEMs made larger-than-anticipated adjustments to production levels by taking a collective month of production down in order to normalize inventories as retail demand slowed, which had an adverse impact on our results," LCII CEO Jason Lippert said in a statement .
Lippert added that RV OEM production was anticipated to return to run rates more consistent with 2019 levels in the back half of 2023.
LCII stock was down 1% to $105 after hours.

For further details see: