Highlights

  • Second quarter 2026 net sales were $968.7 million, compared with $1,107.3 million, and diluted earnings were $2.75 per share.
  • On June 30, 2026, LCI Industries agreed to merge with Patrick Industries, with each share converting into 1.2440 Patrick shares.
  • Cash and cash equivalents were $216.5 million at June 30, 2026, with $595.2 million available under the revolving credit facility.
  • Management expects full-year adjusted revenue of $3.9 billion to $4.1 billion and RV wholesale shipments of 280,000 to 300,000 units.

LCI Industries (NYSE:LCII) shares were trading at USD 97.32 on October 28, 2026, up 8.33%, with a relative volume at time of 9.16. The Elkhart, Indiana-based components supplier appointed an interim chief executive on June 3, entered a merger agreement with Patrick Industries on June 30 and filed its 10-Q for the quarter ended June 30, 2026 on August 5.

LCI Industries operates through its wholly-owned subsidiary Lippert Components, Inc. The company is incorporated in Delaware and lists its principal executive offices in Elkhart, Indiana. It supplies engineered components to the outdoor recreation, transportation, marine and housing industries. At June 30, 2026, it operated over 100 manufacturing facilities in North America and Europe. Its two segments are OEM and Aftermarket, and its fiscal year ends December 31.

Second Quarter 2026 Results

Consolidated net sales for the second quarter of 2026 were $968.7 million, a decrease of 12.5 percent from $1,107.3 million in the same period of 2025. Net sales were reduced by $88.8 million for IEEPA Tariff refunds expected to be passed through to customers.

Operating profit was $96.0 million, compared with $87.8 million a year earlier. Net income was $67.1 million, or $2.75 per diluted share, compared with $57.6 million, or $2.29 per diluted share.

OEM Segment net sales were $674,793 thousand, compared with $839,559 thousand, a decrease of 20 percent. Adjacent Industries OEM sales were $338,673 thousand, compared with $336,261 thousand. OEM operating profit was $44.1 million.

Aftermarket Segment net sales were $293,882 thousand, compared with $267,691 thousand, an increase of 10 percent. Aftermarket operating profit was $51.9 million.

Net cash flows provided by operating activities for the first six months were $170,218 thousand, compared with $154,937 thousand.

Merger, Leadership and Tariff Developments

On June 30, 2026, the company entered into an Agreement and Plan of Merger with Patrick Industries, Inc. and two Patrick merger subsidiaries. Each issued and outstanding share of LCI Industries common stock, other than certain excluded shares, will convert into the right to receive 1.2440 shares of Patrick common stock. The mergers remain subject to closing conditions. In specified circumstances, either party may be required to pay the other a termination fee of $94.2 million.

On June 3, 2026, Jason D. Lippert retired as Chief Executive Officer. The Board appointed John A. Sirpilla as Interim Chief Executive Officer.

The company said it expects to receive $119.3 million in IEEPA Tariff refunds and received $94.9 million during the quarter. It expects to pass through approximately $88.8 million to certain customers. The company said the amount and timing of remaining refunds remain subject to uncertainty.

Balance Sheet, Cash Flow and Capital

At June 30, 2026, the company held $216.5 million in cash and cash equivalents. Availability under its revolving credit facility was $595.2 million.

In the second quarter of 2026, the remaining balance of the 2026 Convertible Notes was paid off at maturity with cash of $92.0 million. A quarterly dividend of $1.15 per share was paid, totaling $28.0 million. No shares were repurchased in the six months, and $200.0 million remained available under the 2025 Share Repurchase Program.

Outlook

On its August 12, 2026 earnings call, management said it expects July adjusted net sales of approximately $315 million and full-year RV industry wholesale shipments of 280,000 to 300,000 units, compared with its prior range of 315,000 to 330,000 units.

Management said it expects full-year adjusted revenue of $3.9 billion to $4.1 billion and an adjusted operating profit margin in the range of 7.5% to 8%. Its adjusted earnings per share outlook is $8.25 to $8.75. These figures are non-GAAP measures stated on the call. The company estimates full-year 2026 capital expenditures of $55 to $65 million.