LCII earnings analysis
What we found in LCII's 10-Q: the parts that mattered, the offsets in the same document, and what the company said about what comes next.
Our reading of the filing · Free to read, no account needed
LCI Industries reported robust results for Q1 2026 with revenue of $1.09 billion, exceeding both prior year and estimates. EPS grew to $2.53, up from the previous year's $1.94, reflecting improved operational efficiency despite challenges in the raw materials market. The OEM segment showed resilient performance, bolstered by price adjustments and product diversification, while management remains optimistic about future growth trajectories.
The parts that mattered.
Pulled out of the filing itself, with the figures the company reported.
- Revenue Growth Strong
- Total revenue was $1.09 billion, up 4.3% from $1.05 billion in Q1 2025.
- EPS Outperforms Estimates
- Diluted EPS rose to $2.53 from $1.94 YoY, exceeding the expected $2.18.
- Operating Profit Margin Improvement
- Operating margin improved to 8.7% from 7.8% in the previous year.
- Segment Performance Mixed
- OEM Segment revenues increased 4% to $852 million, while Aftermarket Segment revenues grew 7% to $237.7 million.
- Cash Flow Challenges
- Operating cash flow was negative at $(33.5) million, impacted by a $134.5 million increase in accounts receivable.
- Strong Liquidity Position
- Cash and cash equivalents stood at $142.2 million with $595.2 million available under the revolving credit facility.
And the other side of it.
The offsets in the same document — the things a summary that only listed the good news would have left out.
- Raw Material Cost Pressures
- Higher material costs negatively impacted profit by $38.4 million YoY.
- Interest Expense Increase
- Net interest expense rose to $9.9 million from $6.0 million last year, impacting profitability.
- Challenges in RV Market
- Wholesale shipments of travel trailers and fifth-wheels dropped 15%, indicating potential demand weaknesses.
What they reported.
What the company itself reported, taken out of the document.
- Earnings per share
- $2.53
- Gross margin
- 25.1%
- Operating margin
- 8.7%
- Segment
- OEM:$852.8M
- Segment
- Aftermarket:$237.7M
What they said about what is next.
Management expects continued revenue growth despite a challenging material cost environment.
The filing reads better than the one before it.
What came before.
- 10-K · February 26, 2026
- LCI Industries reported full-year 2025 net sales of $4.1 billion (up 10% vs. 2024) and net income of $188.3 million, or $7.57 per diluted share (vs. $142.9 million, $5.60 in 2024). Growth was driven by acquisitions…
- 10-Q · October 30, 2025
- LCI Industries reported Q3 2025 net sales of $1,036,477,000 and diluted EPS of $2.55, with gross profit of $252,613,000 and operating profit of $75,439,000. Revenue, gross profit and operating profit all increased…
- 10-Q · August 5, 2025
- LCI Industries reported quarter results with net sales of $1,107,250,000 and diluted EPS of $2.29 for the three months ended June 30, 2025. Revenue and EPS improved sequentially (vs Q1 2025) and year-over-year revenue…
- 10-Q · May 6, 2025
- LCI Industries reported a strong quarter with net sales of $1,045,590,000 (up $77,561,000 or ~8.0% vs Q1 2024) and diluted EPS of $1.94 (up $0.50 vs $1.44). Gross profit increased to $251,749,000 (gross margin ~24.1%)…
This is our reading of a public filing, not the filing. Read the original on SEC.gov · Educational only. Nothing here is investment advice.
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