# EDGAR Filing Document

**Accession Number:** 0000763744
**File Stem:** 0000763744-25-000124
**Filing Date:** 2025-8
**Character Count:** 64981
**Document Hash:** eb1ca2e2780ceb4bbcad93640624e50d
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000763744-25-000124.hdr.sgml**: 20250805

**ACCESSION NUMBER**: 0000763744-25-000124

**CONFORMED SUBMISSION TYPE**: 8-K

**PUBLIC DOCUMENT COUNT**: 33

**CONFORMED PERIOD OF REPORT**: 20250805

**ITEM INFORMATION**: Results of Operations and Financial Condition

**ITEM INFORMATION**: Financial Statements and Exhibits

**FILED AS OF DATE**: 20250805

**DATE AS OF CHANGE**: 20250805

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** LCI INDUSTRIES
- **CENTRAL INDEX KEY:** 0000763744
- **STANDARD INDUSTRIAL CLASSIFICATION:** MOTOR VEHICLE PARTS & ACCESSORIES [3714]
- **ORGANIZATION NAME:** 04 Manufacturing
- **EIN:** 133250533
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 8-K
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 001-13646
- **FILM NUMBER:** 251182776

**BUSINESS ADDRESS:**
- **STREET 1:** 3501 COUNTY ROAD 6 EAST
- **CITY:** ELKHART
- **STATE:** IN
- **ZIP:** 46514
- **BUSINESS PHONE:** 5745351125

**MAIL ADDRESS:**
- **STREET 1:** 3501 COUNTY ROAD 6 EAST
- **CITY:** ELKHART
- **STATE:** IN
- **ZIP:** 46514

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** DREW INDUSTRIES INC
- **DATE OF NAME CHANGE:** 20161220

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** DREW INDUSTRIES Inc
- **DATE OF NAME CHANGE:** 20150408

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** DREW INDUSTRIES INC
- **DATE OF NAME CHANGE:** 19920703

?xml version='1.0' encoding='ASCII'? lcii-20250805

**UNITED STATES**

**SECURITIES AND EXCHANGE COMMISSION**

**Washington, DC 20549**

**FORM 8-K**

**CURRENT REPORT** 

**Pursuant to Section 13 OR 15(d) of the Securities Exchange Act of 1934**

Date of Report (Date of earliest event reported): August 5, 2025

---

| | | | | |
|:---|:---|:---|:---|:---|
| **LCI INDUSTRIES** | **LCI INDUSTRIES** | **LCI INDUSTRIES** | **LCI INDUSTRIES** | **LCI INDUSTRIES** |
| (Exact name of registrant as specified in its charter) | (Exact name of registrant as specified in its charter) | (Exact name of registrant as specified in its charter) | (Exact name of registrant as specified in its charter) | (Exact name of registrant as specified in its charter) |
| **Delaware** |  | **001-13646** | **13-3250533** | **13-3250533** |
| (State or other jurisdiction of incorporation) |  | (Commission File Number) | (I.R.S. Employer<br>Identification No.) | (I.R.S. Employer<br>Identification No.) |
| **3501 County Road 6 East,** | **Elkhart,** | **Indiana** | **46514** | **46514** |
| (Address of principal executive offices) | (Address of principal executive offices) | (Address of principal executive offices) | (Zip Code) | (Zip Code) |
| Registrant's telephone number, including area code: | Registrant's telephone number, including area code: | Registrant's telephone number, including area code: | **(574)** | **535-1125** |
| **N/A** | **N/A** | **N/A** | **N/A** | **N/A** |
| (Former name or former address, if changed since last report) | (Former name or former address, if changed since last report) | (Former name or former address, if changed since last report) | (Former name or former address, if changed since last report) | (Former name or former address, if changed since last report) |

---

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (<u>see</u> General Instruction A.2. below):

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

---

| | | |
|:---|:---|:---|
| Title of each class | Trading Symbol(s) | Name of each exchange on which registered |
| Common Stock, $.01 par value | LCII | New York Stock Exchange |

---

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

------

**Item 2.02&nbsp;&nbsp;&nbsp;&nbsp;Results of Operations and Financial Condition**

On August 5, 2025, LCI Industries issued a press release setting forth LCI Industries' second quarter 2025 results. A copy of the press release is attached hereto as Exhibit 99.1.

An investor presentation that LCI Industries will refer to during its conference call to discuss the results is attached hereto as Exhibit 99.2 and will be posted on LCI Industries' investor relations website in advance of the call.

The foregoing information is furnished pursuant to Item 2.02, "Results of Operations and Financial Condition." Such information, including the Exhibits attached hereto, is being furnished and shall not be deemed "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933, except as shall be expressly set forth by specific reference in such filing.

**Item 9.01&nbsp;&nbsp;&nbsp;&nbsp;Financial Statements and Exhibits**

Exhibit Index:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| <u>[99.1](lcii-earningsrelease2q25qu.htm)</u> | Press Release dated August 5, 2025 |
| <u>[99.2](lcii-irshortdeck2q25fina.htm)</u> | Investor Presentation dated August 5, 2025 |
| 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document). |

---

**SIGNATURES**

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;LCI INDUSTRIES | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;LCI INDUSTRIES |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Registrant) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Registrant) |
| By:***<u>/s/ Lillian D. Etzkorn</u>***<br>Lillian D. Etzkorn<br>Chief Financial Officer | By:***<u>/s/ Lillian D. Etzkorn</u>***<br>Lillian D. Etzkorn<br>Chief Financial Officer |
| Dated: | August 5, 2025 |

---

## Exhibit 99.1

&nbsp;&nbsp;&nbsp;&nbsp;Exhibit 99.1

---

| | |
|:---|:---|
| **FOR IMMEDIATE RELEASE** | ![lciia.jpg](lciia.jpg) |
| **Contact: Lillian D. Etzkorn, CFO** | ![lciia.jpg](lciia.jpg) |
| **Phone:** (574) 535-1125 | ![lciia.jpg](lciia.jpg) |
| **E Mail:** <u>LCII@lci1.com</u> | ![lciia.jpg](lciia.jpg) |
|  | ![lciia.jpg](lciia.jpg) |

---

**LCI INDUSTRIES REPORTS SECOND QUARTER FINANCIAL RESULTS**

*Share gains, cost savings initiatives, and an effective tariff mitigation strategy support resilience and drive continued progress toward targets*

**Second Quarter 2025 Highlights**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Net sales of $1.1 billion in the second quarter, up 5% year-over-year

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Net income of $58 million, which was 5.2% of net sales, or $2.29 per diluted share, in the second quarter, compared to $61 million, or $2.40 per diluted share, in the second quarter of 2024

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Net income, as adjusted for executive separation costs, was $60 million, or $2.39 per diluted share, in the second quarter, compared to $2.40 in the second quarter of 2024

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Adjusted EBITDA of $121 million, or 11.0% of net sales, in the second quarter, down 1% year-over-year

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Operating profit margin of 7.9% in the second quarter, down from 8.6% in the second quarter of 2024

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Our tariff mitigation strategy of diversifying our supply chain, with help from our vendors and other sourcing strategies, enabled us to minimize the impact of pricing to our customers as well as support profitability in the second quarter

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Cash flows provided by operations of $340 million for the LTM period ended June 30, 2025

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Quarterly dividend of $1.15 per share paid, totaling $29 million in the second quarter

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Completed $38 million in share repurchases during the second quarter, and an additional $62 million in share repurchases in July and August under the recently authorized repurchase program

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Year-to-date through August 1, 2025, $187 million returned to shareholders in form of dividends and share repurchases

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Strong liquidity position with $192 million of cash and cash equivalents and $595 million of availability on revolving credit facility at June 30, 2025

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Completed the acquisition of Freedman Seating Company, a manufacturer of transportation seating solutions to the bus and specialty vehicle markets, representing approximately $125 million in annual revenue

**Elkhart, Indiana -** August 5, 2025 - LCI Industries (NYSE: LCII), a leading supplier of engineered components to the recreation and transportation markets, today reported second quarter 2025 results.

"We delivered strong second quarter results, led by our innovative portfolio and competitive moat which together fueled share gains across key categories and generated 5% sales growth with 2% organic content growth. Additionally, we tightened our supply chain, cut indirect spend, and further optimized our footprint, which supported an EBITDA margin of 11%, a sequential expansion of 40 basis points," commented Jason Lippert, President and Chief Executive Officer. "Our proven M&A playbook was reignited in the quarter as we completed the Freedman Seating acquisition, while also returning $67 million of cash to shareholders through dividend and share repurchases. Our liquidity position remains strong, supported by both robust cash generation, ample cash reserves, and access to our credit facility, allowing us to allocate capital where most beneficial and capitalize on opportunities that offer attractive returns.

"Our performance across the first half of 2025 reinforces the resilience of the business," Mr. Lippert continued. "I'm proud of the team's accomplishments this quarter and am confident our focus on efficiency and flexibility will continue to extend our ability to create strong profits at lower volumes because of the actions we have taken.

------

Looking ahead, we remain on track to reach our $5 billion organic revenue target in 2027 and are making meaningful headway toward our 85 basis point overhead and G&A improvement goal for 2025."

"Despite the macro environment, our team continues to push LCI Industries forward with a strong foundation of operational discipline," commented Ryan Smith, LCI Industries' Group President - North America. "Our deep-rooted culture of innovation, commitment to service, and relentless focus on quality remains central to how we execute and are key to delivering results through 2025 and beyond. I want to thank our dedicated team members for their outstanding commitment and leadership as they drive growth in the face of ongoing challenges"

**Second Quarter 2025 Results**

Consolidated net sales for the second quarter of 2025 were $1,107.3 million, an increase of 5.0% from 2024 second quarter net sales of $1,054.5 million. Net income in the second quarter of 2025 was $57.6 million, or $2.29 per diluted share, compared to $61.2 million, or $2.40 per diluted share, in the second quarter of 2024. Adjusted net income in the second quarter of 2025 was $60.1 million, or $2.39 per diluted share, excluding executive separation costs, net of tax effect, during the quarter, which was down 2% from adjusted net income in the second quarter of 2024. Adjusted EBITDA in the second quarter of 2025 was $121.3 million, compared to Adjusted EBITDA of $122.6 million in the second quarter of 2024. The margin contraction was primarily driven by executive separation costs and changes in product mix for both the OEM and Aftermarket segments. Additional information regarding adjusted net income and Adjusted EBITDA, as well as reconciliations of these non-GAAP financial measures to the most directly comparable GAAP financial measure of net income, is provided in the "Supplementary Information - Reconciliation of Non-GAAP Measures" section below.

The increase in year-over-year net sales for the second quarter of 2025 was primarily due to a $43.4 million increase in net sales of the OEM Segment driven by sales from acquired businesses and higher North American RV sales driven by market share gains and an increased mix of higher content fifth-wheel units compared to the same period of 2024. Net sales from acquisitions completed in the twelve months ended June 30, 2025 contributed approximately $35.0 million in the second quarter of 2025.

**July 2025 Results**

July 2025 consolidated net sales were approximately $327 million, up 5% from July 2024, primarily due to sales from acquired businesses and pricing, partially offset by a decrease in RV production volume.

**OEM Segment - Second Quarter Performance**

OEM net sales for the second quarter of 2025 were $839.6 million, an increase of $43.4 million compared to the same period of 2024. RV OEM net sales for the second quarter of 2025 were $503.3 million, up 3% compared to the same prior year period, primarily driven by market share gains, an increase in RV mix toward higher content fifth-wheel units, and sales price increases related to tariffs, partially offset by volume decreases in the European RV market. Adjacent Industries OEM net sales for the second quarter of 2025 were $336.3 million, up 10% year-over-year, driven primarily by sales from acquired businesses.

Operating profit of the OEM Segment was $51.7 million in the second quarter of 2025, or 6.2% of net sales, compared to an operating profit of $50.6 million, or 6.4% of net sales, in the same period in 2024. The operating profit margin contraction of the OEM Segment for the quarter was primarily driven by executive separation costs and changes in sales mix towards lower margin products, partially offset by production labor efficiencies. Results for the quarter also included higher material costs for tariffs and increased freight costs, which were fully mitigated through a combination of materials sourcing strategies and targeted sales price increases.

**Aftermarket Segment - Second Quarter Performance**

Aftermarket net sales for the second quarter of 2025 were $267.7 million, an increase of 4% compared to the same period of 2024. The increase was primarily driven by product innovations and the expanding Camping World relationship within the RV aftermarket, partially offset by lower volumes within the automotive aftermarket.

------

Operating profit of the Aftermarket Segment was $36.1 million in the second quarter of 2025, a decrease of $3.9 million compared to the same period of 2024. The operating profit margin of the Aftermarket Segment was 13.5% in the second quarter of 2025, compared to 15.5% in the same period in 2024. The operating profit margin contraction of the Aftermarket Segment for the quarter was primarily driven by changes in sales mix towards lower margin products, investments in capacity, distribution and logistics technology to support growth of the Aftermarket Segment, and reduced utilization of fixed production overhead costs within the automotive aftermarket due to lower production volumes compared to the same period in 2024. Results for the quarter also included higher material costs for tariffs and increased freight costs, which were fully mitigated through a combination of materials sourcing strategies and targeted sales price increases.

"The aftermarket business delivered strong results in the second quarter as revenue growth and sequential margin expansion were fueled by the continued adoption of product innovations," said Jamie Schnur, Group President – Aftermarket. "As we continue to drive organic content growth, each RV built today represents a future aftermarket touchpoint. To ensure we capture this future growth, we remain committed to investing in technician training, strengthening dealer relationships, and delivering best-in-class service to enhance the customer experience and ultimately foster strong relationships."

**Income Taxes**

The Company's effective tax rate was 26.2% for the quarter ended June 30, 2025, compared to 26.0% for the quarter ended June 30, 2024. The increase in the effective tax rate was primarily due to an increase in non-deductible executive compensation.

**Balance Sheet and Other Items**

At June 30, 2025, the Company's cash and cash equivalents balance was $191.9 million, compared to $165.8 million at December 31, 2024. The Company used $98.2 million for acquisitions, $66.3 million for share repurchases, $58.4 million for dividend payments to shareholders, and $21.8 million for capital expenditures in the six months ended June 30, 2025.

The Company's outstanding long-term indebtedness, including current maturities, was $948.0 million at June 30, 2025, and the Company was in compliance with its debt covenants. As of June 30, 2025, the Company had $595.3 million of borrowing availability under the revolving credit facility.

**Conference Call & Webcast**

LCI Industries will host a conference call to discuss its second quarter results on Tuesday, August 5, 2025, at 8:30 a.m. Eastern time, which may be accessed by dialing (833) 470-1428 for participants in the U.S. and (929) 526-1599 for participants outside the U.S. using the required conference ID 708394. Due to the high volume of companies reporting earnings at this time, please be prepared for hold times of up to 15 minutes when dialing in to the call. In addition, an online, real-time webcast, as well as a supplemental earnings presentation, can be accessed on the Company's website, www.investors.lci1.com.

A replay of the conference call will be available for two weeks by dialing (866) 813-9403 for participants in the U.S. and (44) 204-525-0658 for participants outside the U.S. and referencing access code 734651. A replay of the webcast will be available on the Company's website immediately following the conclusion of the call.

**About LCI Industries**

LCI Industries (NYSE: LCII), through its Lippert subsidiary, is a global leader in supplying engineered components to the outdoor recreation and transportation markets. We believe our innovative culture, advanced manufacturing capabilities, and dedication to enhancing the customer experience have established Lippert as a reliable partner for both OEM and aftermarket customers. For more information, visit www.lippert.com.

------

**Forward-Looking Statements**

This press release contains certain "forward-looking statements" with respect to our financial condition, results of operations, profitability, margins, business strategies, operating efficiencies or synergies, competitive position, growth opportunities, acquisitions, plans and objectives of management, markets for the Company's common stock, the impact of legal proceedings, and other matters. Statements in this press release that are not historical facts are "forward-looking statements" for the purpose of the safe harbor provided by Section 21E of the Securities Exchange Act of 1934, as amended, and Section 27A of the Securities Act of 1933, as amended, and involve a number of risks and uncertainties.

Forward-looking statements, including, without limitation, those relating to production levels, future business prospects, net sales, expenses and income (loss), operating margins, capital expenditures, tax rate, cash flow, financial condition, liquidity, covenant compliance, retail and wholesale demand, integration of acquisitions, R&D investments, commodity prices, addressable markets, and industry trends, whenever they occur in this press release are necessarily estimates reflecting the best judgment of the Company's senior management at the time such statements were made. 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 include, in addition to other matters described in this press release, the impacts of costs and availability of, and tariffs on, raw materials (particularly steel and aluminum) and other components, future pandemics, geopolitical tensions, armed conflicts, or natural disasters on the global economy and on the Company's customers, suppliers, team members, business and cash flows, pricing pressures due to domestic and foreign competition, seasonality and cyclicality in the industries to which we sell our products, availability of credit for financing the retail and wholesale purchase of products for which we sell our components, inventory levels of retail dealers and manufacturers, availability of transportation for products for which we sell our components, the financial condition of our customers, the financial condition of retail dealers of products for which we sell our components, retention and concentration of significant customers, the costs, pace of and successful integration of acquisitions and other growth initiatives, availability and costs of production facilities and labor, team member benefits, team member retention, realization and impact of expansion plans, efficiency improvements and cost reductions, the disruption of business resulting from natural disasters or other unforeseen events, the successful entry into new markets, the costs of compliance with environmental laws, laws of foreign jurisdictions in which we operate, other operational and financial risks related to conducting business internationally, and increased governmental regulation and oversight, information technology performance and security, the ability to protect intellectual property, warranty and product liability claims or product recalls, interest rates, oil and gasoline prices, and availability, the impact of international, national and regional economic conditions and consumer confidence on the retail sale of products for which we sell our components, and other risks and uncertainties discussed more fully under the caption "Risk Factors" in the Company's Annual Report on Form 10-K for the year ended December 31, 2024, and in the Company's subsequent filings with the Securities and Exchange Commission. Readers of this press release are cautioned not to place undue reliance on these forward-looking statements, since there can be no assurance that these forward-looking statements will prove to be accurate. 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.

###

------

**LCI INDUSTRIES**

**OPERATING RESULTS**

*(unaudited)*

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| | Three Months Ended <br>June 30, | Three Months Ended <br>June 30, | Six Months Ended <br>June 30, | Six Months Ended <br>June 30, | |
| | 2025 | 2024 | 2025 | 2024 | Last Twelve<br>Months |
| *(In thousands, except per share amounts)* |  |  |  |  |  |
| Net sales | $1107250 | $1054544 | $2152840 | $2022573 | $3871475 |
| Cost of sales | 837229 | 788099 | 1631070 | 1532222 | 2960341 |
| &nbsp;&nbsp;&nbsp;&nbsp;Gross profit | 270021 | 266445 | 521770 | 490351 | 911134 |
| Selling, general and administrative expenses | 182217 | 175841 | 352649 | 342136 | 671991 |
| &nbsp;&nbsp;&nbsp;&nbsp;Operating profit | 87804 | 90604 | 169121 | 148215 | 239143 |
| Interest expense, net | 9689 | 7962 | 15680 | 17283 | 27296 |
| Loss on extinguishment of debt |  |  | 8053 |  | 8053 |
| &nbsp;&nbsp;&nbsp;&nbsp;Income before income taxes | 78115 | 82642 | 145388 | 130932 | 203794 |
| Provision for income taxes | 20480 | 21479 | 38315 | 33224 | 51562 |
| &nbsp;&nbsp;&nbsp;&nbsp;Net income | $57635 | $61163 | $107073 | $97708 | $152232 |
| Net income per common share: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Basic | $2.29 | $2.40 | $4.23 | $3.86 | $6.00 |
| &nbsp;&nbsp;&nbsp;&nbsp;Diluted | $2.29 | $2.40 | $4.23 | $3.85 | $5.99 |
| Weighted average common shares outstanding: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Basic | 25157 | 25473 | 25297 | 25344 | 25381 |
| &nbsp;&nbsp;&nbsp;&nbsp;Diluted | 25157 | 25504 | 25297 | 25367 | 25431 |
| Depreciation | $16826 | $17936 | $33489 | $36521 | $67361 |
| Amortization | $13497 | $14103 | $26376 | $28207 | $53469 |
| Capital expenditures | $12736 | $12720 | $21774 | $21328 | $42779 |

---

------

**LCI INDUSTRIES**

**SEGMENT RESULTS**

*(unaudited)*

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| | Three Months Ended <br>June 30, | Three Months Ended <br>June 30, | Six Months Ended <br>June 30, | Six Months Ended <br>June 30, | |
| | 2025 | 2024 | 2025 | 2024 | Last Twelve<br>Months |
| *(In thousands)* |  |  |  |  |  |
| Net sales: |  |  |  |  |  |
| &nbsp;&nbsp;OEM Segment: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;RV OEMs: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Travel trailers and fifth-wheels | $441926 | $426349 | $913120 | $817112 | $1610586 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Motorhomes | 61372 | 63620 | 120980 | 132458 | 221588 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Adjacent Industries OEMs | 336261 | 306155 | 629014 | 604866 | 1136954 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total OEM Segment net sales | 839559 | 796124 | 1663114 | 1554436 | 2969128 |
| &nbsp;&nbsp;Aftermarket Segment: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total Aftermarket Segment net sales | 267691 | 258420 | 489726 | 468137 | 902347 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total net sales | $1107250 | $1054544 | $2152840 | $2022573 | $3871475 |
| Operating profit: |  |  |  |  |  |
| &nbsp;&nbsp;OEM Segment | $51684 | $50562 | $113657 | $83399 | $137339 |
| &nbsp;&nbsp;Aftermarket Segment | 36120 | 40042 | 55464 | 64816 | 101804 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total operating profit | $87804 | $90604 | $169121 | $148215 | $239143 |
| Depreciation and amortization: |  |  |  |  |  |
| &nbsp;&nbsp;OEM Segment depreciation | $12169 | $13733 | $24496 | $27768 | $50212 |
| &nbsp;&nbsp;Aftermarket Segment depreciation | 4657 | 4203 | 8993 | 8753 | 17149 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total depreciation | $16826 | $17936 | $33489 | $36521 | $67361 |
| &nbsp;&nbsp;OEM Segment amortization | $9638 | $10150 | $18752 | $20430 | $38165 |
| &nbsp;&nbsp;Aftermarket Segment amortization | 3859 | 3953 | 7624 | 7777 | 15304 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total amortization | $13497 | $14103 | $26376 | $28207 | $53469 |

---

------

**LCI INDUSTRIES**

**BALANCE SHEET INFORMATION**

*(unaudited)*

---

| | | |
|:---|:---|:---|
| | June 30,<br>2025 | December 31,<br>2024 |
| *(In thousands)* |  |  |
| ASSETS |  |  |
| Current assets |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Cash and cash equivalents | $191931 | $165756 |
| &nbsp;&nbsp;&nbsp;&nbsp;Accounts receivable, net | 386074 | 199560 |
| &nbsp;&nbsp;&nbsp;&nbsp;Inventories, net | 710288 | 736604 |
| &nbsp;&nbsp;&nbsp;&nbsp;Prepaid expenses and other current assets | 69952 | 58318 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total current assets | 1358245 | 1160238 |
| Fixed assets, net | 433012 | 432728 |
| Goodwill | 618898 | 585773 |
| Other intangible assets, net | 423037 | 392018 |
| Operating lease right-of-use assets | 239865 | 224313 |
| Other long-term assets | 101081 | 99669 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total assets | $3174138 | $2894739 |
| LIABILITIES AND STOCKHOLDERS' EQUITY |  |  |
| Current liabilities |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Current maturities of long-term indebtedness | $3677 | $423 |
| &nbsp;&nbsp;&nbsp;&nbsp;Accounts payable, trade | 228092 | 187684 |
| &nbsp;&nbsp;&nbsp;&nbsp;Current portion of operating lease obligations | 39450 | 38671 |
| &nbsp;&nbsp;&nbsp;&nbsp;Accrued expenses and other current liabilities | 213079 | 185275 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total current liabilities | 484298 | 412053 |
| Long-term indebtedness | 944313 | 756830 |
| Operating lease obligations | 215695 | 199929 |
| Deferred taxes | 16793 | 26110 |
| Other long-term liabilities | 127939 | 112931 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total liabilities | 1789038 | 1507853 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total stockholders' equity | 1385100 | 1386886 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total liabilities and stockholders' equity | $3174138 | $2894739 |

---

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**LCI INDUSTRIES**

**SUMMARY OF CASH FLOWS**

*(unaudited)*

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| | | |
|:---|:---|:---|
| | Six Months Ended <br>June 30, | Six Months Ended <br>June 30, |
| | 2025 | 2024 |
| *(In thousands)* |  |  |
| Cash flows from operating activities: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Net income | $107073 | $97708 |
| &nbsp;&nbsp;&nbsp;&nbsp;Adjustments to reconcile net income to cash flows provided by operating activities: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Depreciation and amortization | 59865 | 64728 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Stock-based compensation expense | 10949 | 9301 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Loss on extinguishment of debt | 8053 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Other non-cash items | 6514 | 2238 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Changes in assets and liabilities, net of acquisitions of businesses: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Accounts receivable, net | (168012) | (118962) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Inventories, net | 62977 | 96351 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Prepaid expenses and other assets | (4899) | (2746) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Accounts payable, trade | 33012 | 18977 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Accrued expenses and other liabilities | 39405 | 17687 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net cash flows provided by operating activities | 154937 | 185282 |
| Cash flows from investing activities: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Capital expenditures | (21774) | (21328) |
| &nbsp;&nbsp;&nbsp;&nbsp;Acquisitions of businesses | (98187) | (19957) |
| &nbsp;&nbsp;&nbsp;&nbsp;Other investing activities | (3389) | 552 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net cash flows used in investing activities | (123350) | (40733) |
| Cash flows from financing activities: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Vesting of stock-based awards, net of shares tendered for payment of taxes | (4858) | (9111) |
| &nbsp;&nbsp;&nbsp;&nbsp;Proceeds from revolving credit facility |  | 86248 |
| &nbsp;&nbsp;&nbsp;&nbsp;Repayments under revolving credit facility | (19261) | (87766) |
| &nbsp;&nbsp;&nbsp;&nbsp;Proceeds from term loan borrowings | 391000 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Repayments under term loan and other borrowings | (281525) | (15007) |
| &nbsp;&nbsp;&nbsp;&nbsp;Proceeds from issuance of convertible notes | 448500 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Repurchase of convertible notes | (368920) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Purchases of convertible note hedge contracts | (67574) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Proceeds from issuance of warrants concurrent with note hedge contracts | 27600 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Partial unwind of convertible note hedge and warrants | 1378 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Payment of debt issuance costs | (4821) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Payment of dividends | (58388) | (53455) |
| &nbsp;&nbsp;&nbsp;&nbsp;Repurchases of common stock | (66338) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Other financing activities | (895) | (2) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net cash flows used in financing activities | (4102) | (79093) |
| Effect of exchange rate changes on cash and cash equivalents | (1310) | (1195) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net increase in cash and cash equivalents | 26175 | 64261 |
| Cash and cash equivalents at beginning of period | 165756 | 66157 |
| Cash and cash equivalents at end of period | $191931 | $130418 |

---

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**LCI INDUSTRIES**

**SUPPLEMENTARY INFORMATION**

*(unaudited)*

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| | Three Months Ended | Three Months Ended | Three Months Ended | Six Months Ended | Six Months Ended | | |
| | June 30, | June 30, | June 30, | June 30, | June 30, | | |
| | 2025 | | 2024 | 2025 | 2024 |<br>Last Twelve<br>Months | |
| Industry Data<sup>(1)</sup> *(in thousands of units):* |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Industry Wholesale Production: |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Travel trailer and fifth-wheel RVs | 81.4 |  | 82.0 | 167.7 | 155.4 | 303.9 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Motorhome RVs | 9.3 |  | 8.8 | 18.7 | 19.2 | 34.4 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Industry Retail Sales: |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Travel trailer and fifth-wheel RVs | 97.1 | (2) | 98.6 | 159.5 | 163.7 | 302.2 | (2) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Impact on dealer inventories | (15.7) | (2) | (16.6) | 8.2 | (8.3) | 1.7 | (2) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Motorhome RVs | 10.6 | (2) | 11.9 | 19.6 | 21.7 | 38.0 | (2) |
|  |  |  |  | Twelve Months Ended | Twelve Months Ended |  |  |
|  |  |  |  | June 30, | June 30, |  |  |
|  |  |  |  | 2025 | 2024 |  |  |
| Lippert Content Per Industry Unit Produced: |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Travel trailer and fifth-wheel RV |  |  |  | 5234 | 5237 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Motorhome RV |  |  |  | 3793 | 3766 |  |  |
|  |  |  |  | June 30, | June 30, | December 31, |  |
|  |  |  |  | 2025 | 2024 | 2024 |  |
| Balance Sheet Data *(debt availability in millions):* |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Remaining availability under the revolving credit facility <sup>(3)</sup> |  |  |  | 595.3 | 373.1 | $452.5 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Days sales in accounts receivable, based on last twelve months |  |  |  | 29.6 | 30.5 | 29.9 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Inventory turns, based on last twelve months |  |  |  | 4.2 | 3.9 | 4.0 |  |
|  |  |  |  | 2025 | 2025 |  |  |
| Estimated Full Year Data: |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Capital expenditures |  |  |  | $50 - $70 million | $50 - $70 million |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Depreciation and amortization |  |  |  | $115 - $125 million | $115 - $125 million |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Stock-based compensation expense |  |  |  | $18 - $23 million | $18 - $23 million |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Annual tax rate |  |  |  | 25% - 27% | 25% - 27% |  |  |

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<sup>(1)</sup> Industry wholesale production data for travel trailer and fifth-wheel RVs and motorhome RVs provided by the Recreation Vehicle Industry Association. Industry retail sales data provided by Statistical Surveys, Inc.

<sup>(2)</sup> June 2025 retail sales data for RVs has not been published yet, therefore 2025 retail data for RVs includes an estimate for June 2025 retail units. Retail sales data will likely be revised upwards in future months as various states report.

<sup>(3)</sup> Remaining availability under the revolving credit facility is subject to covenant restrictions.

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**LCI INDUSTRIES**

**SUPPLEMENTARY INFORMATION**

**RECONCILIATION OF NON-GAAP MEASURES**

*(unaudited)*

The following table reconciles net income to Adjusted EBITDA and net income as a percentage of net sales to Adjusted EBITDA as a percentage of net sales.

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| | | | | |
|:---|:---|:---|:---|:---|
| | Three Months Ended June 30, | Three Months Ended June 30, | Six Months Ended June 30, | Six Months Ended June 30, |
| | 2025 | 2024 | 2025 | 2024 |
| *(In thousands)* |  |  |  |  |
| Net income | $57635 | $61163 | $107073 | $97708 |
| &nbsp;&nbsp;&nbsp;&nbsp;Interest expense, net | 9689 | 7962 | 15680 | 17283 |
| &nbsp;&nbsp;&nbsp;&nbsp;Provision for income taxes | 20480 | 21479 | 38315 | 33224 |
| &nbsp;&nbsp;&nbsp;&nbsp;Depreciation expense | 16826 | 17936 | 33489 | 36521 |
| &nbsp;&nbsp;&nbsp;&nbsp;Amortization expense | 13497 | 14103 | 26376 | 28207 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;EBITDA | $118127 | $122643 | $220933 | $212943 |
| &nbsp;&nbsp;&nbsp;&nbsp;Loss on extinguishment of debt |  |  | 8053 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Executive separation costs | 3193 |  | 3193 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Adjusted EBITDA | $121320 | $122643 | $232179 | $212943 |
| Net sales | $1107250 | $1054544 | $2152840 | $2022573 |
| Net income as a percentage of net sales | 5.2% | 5.8% | 5.0% | 4.8% |
| Adjusted EBITDA as a percentage of net sales | 11.0% | 11.6% | 10.8% | 10.5% |

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The following table reconciles net income to adjusted net income and net income per diluted share to adjusted net income per diluted share.

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| | | | | |
|:---|:---|:---|:---|:---|
| | Three Months Ended June 30, | Three Months Ended June 30, | Six Months Ended June 30, | Six Months Ended June 30, |
| | 2025 | 2024 | 2025 | 2024 |
| *(In thousands, except per share amounts)* |  |  |  |  |
| Net income | $57635 | $61163 | $107073 | $97708 |
| &nbsp;&nbsp;&nbsp;&nbsp;Loss on extinguishment of debt |  |  | 8053 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Executive separation costs | 3193 |  | 3193 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Tax effect of adjustments | (765) |  | (2695) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Adjusted net income | $60063 | $61163 | $115624 | $97708 |
| Net income per common share - diluted | $2.29 | $2.40 | $4.23 | $3.85 |
| &nbsp;&nbsp;&nbsp;&nbsp;Loss on extinguishment of debt |  |  | 0.32 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Executive separation costs | 0.13 |  | 0.13 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Tax effect of adjustments | (0.03) |  | (0.11) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Adjusted net income per common share - diluted | $2.39 | $2.40 | $4.57 | $3.85 |
| Weighted average common shares outstanding - diluted | 25157 | 25504 | 25297 | 25367 |

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In addition to reporting financial results in accordance with U.S. GAAP, the Company has provided the non-GAAP performance measures of Adjusted EBITDA, Adjusted EBITDA as a percentage of net sales, adjusted net income, and adjusted net income per diluted common share to illustrate and improve comparability of its results from period to period. Adjusted EBITDA is defined as net income before interest expense, net, provision for income taxes, depreciation expense, amortization expense, loss on extinguishment of debt, and executive separation costs during the three and six month periods ended June 30, 2025 and 2024. Adjusted net income is defined as net income adjusted for loss on extinguishment of debt and executive separation costs, and the related tax effects during the three and six month periods ended June 30, 2025. The Company considers these non-GAAP measures in

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evaluating and managing the Company's operations and believes that discussion of results adjusted for these items is meaningful to investors because it provides a useful analysis of ongoing underlying operating trends. These measures are not in accordance with, nor are they substitutes for, GAAP measures, and they may not be comparable to similarly titled measures used by other companies.

## Exhibit 99.2

![](lcii-irshortdeck2q25fina001.jpg)

Q 2 2 0 2 5 E a r n i n g s C o n f e r e n c e C a l l 8 . 5 . 2 0 2 5

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![](lcii-irshortdeck2q25fina002.jpg)

This presentation contains certain "forward-looking statements" with respect to our financial condition, results of operations, profitability, margin growth, business strategies, operating efficiencies or synergies, competitive position, growth opportunities, acquisitions, plans and objectives of management, markets for the Company's common stock, the impact of legal proceedings, and other matters. Statements in this presentation that are not historical facts are "forward-looking statements" for the purpose of the safe harbor provided by Section 21E of the Securities Exchange Act of 1934, as amended, and Section 27A of the Securities Act of 1933, as amended, and involve a number of risks and uncertainties. Forward-looking statements, including, without limitation, those relating to the Company's production levels, future business prospects, net sales, expenses and income (loss), capital expenditures, tax rate, cash flow, financial condition, liquidity, covenant compliance, growth strategy, retail and wholesale demand and shipments, integration of acquisitions, R&D investments, commodity prices, addressable markets, and industry trends, whenever they occur in this presentation are necessarily estimates reflecting the best judgment of the Company's senior management at the time such statements were made. 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 include, in addition to other matters described in this presentation, the impacts of costs and availability of, and tariffs on, raw materials (particularly steel and aluminum) and other components, future pandemics, geopolitical tensions, armed conflicts, or natural disasters on the global economy and on the Company's customers, suppliers, team members, business and cash flows, pricing pressures due to domestic and foreign competition, seasonality and cyclicality in the industries to which we sell our products, availability of credit for financing the retail and wholesale purchase of products for which we sell our components, inventory levels of retail dealers and manufacturers, availability of transportation for products for which we sell our components, the financial condition of our customers, the financial condition of retail dealers of products for which we sell our components, retention and concentration of significant customers, the costs, pace and successful integration of acquisitions and other growth initiatives, availability and costs of production facilities and labor, team member benefits, team member retention, realization and impact of expansion plans, efficiency improvements and cost reductions, the disruption of business resulting from natural disasters or other unforeseen events, the successful entry into new markets, the costs of compliance with environmental laws, laws of foreign jurisdictions in which we operate, other operational and financial risks related to conducting business internationally, and increased governmental regulation and oversight, information technology performance and security, the ability to protect intellectual property, warranty and product liability claims or product recalls, interest rates, oil and gasoline prices and availability, the impact of international, national and regional economic conditions and consumer confidence on the retail sale of products for which we sell our components, and other risks and uncertainties discussed more fully under the caption "Risk Factors" in the Company's Annual Report on Form 10-K for the year ended December 31, 2024, and in the Company's subsequent filings with the Securities and Exchange Commission, including the Company's Quarterly Reports on Form 10-Q. Readers of this presentation are cautioned not to place undue reliance on these forward-looking statements, since there can be no assurance that these forward-looking statements will prove to be accurate. 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. This presentation includes certain non-GAAP financial measures, such as adjusted net income, adjusted net income per diluted share, adjusted EBITDA, adjusted EBITDA as a percentage of net sales, net debt to EBITDA leverage, and free cash flow. These non-GAAP financial measures should not be considered a substitute for the comparable GAAP financial measures. Reconciliations of these non-GAAP financial measures to the most directly comparable GAAP financial measure are included in the presentation. 2 Forward-Looking Statements

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![](lcii-irshortdeck2q25fina003.jpg)

Quarterly Financial Performance • Net sales of $1.1 billion, up 5% year-over-year • Net income of $58 million ($2.29 per diluted share), or 5.2% of net sales, down 6% year-over-year • Adjusted net income1 of $60 million ($2.39 adjusted net income per diluted share1) • Adjusted EBITDA1 of $121 million, or 11.0% of net sales, down 1% year-over-year Executing Cost Management and Continuous Improvement Initiatives • Second quarter operating profit margin of 7.9%, down 70 bps year-over year; but up sequentially over the first quarter operating profit margin of 7.8% • Tariff mitigation strategy of diversifying supply chain, with help from vendors and other sourcing strategies, enabled us to minimize impact of pricing to customers as well as support profitability in Q2 • Making meaningful headway to deliver an 85bp margin improvement in 2025 through optimizing infrastructure Gaining Share through Innovation • Launched new marine ladder product • Delivered towable organic content growth both sequentially over 1Q25 and year-over-year2 • Continued momentum with $100M run rate from recent new product launches with 2025 RV model year - including ABS, A/C innovation, coil spring suspension, new window designs, and new patented SunDeck 3 1 Additional information regarding adjusted net income, adjusted net income per diluted share, Adjusted EBITDA, and Adjusted EBITDA as a percentage of net sales, and reconciliations of these non-GAAP financial measures to the most directly comparable GAAP financial measures, are provided in the Appendix 2 For twelve months ended June 30, 2025 Capital Allocation • Strong liquidity position with $192 million of cash and cash equivalents and $595 million of availability on revolving credit facility at June 30, 2025 • Returned $67.1 million to shareholders through a quarterly dividend of $1.15 per share aggregating $29.0 million, and $38.1 million in share repurchases in the second quarter • $128.3 million in share repurchases year-to-date through August 1, 2025 • Acquired Freedman Seating in April, representing approximately $125 million in annual revenues in the bus market Second Quarter 2025 Highlights Share gains, cost savings initiatives, and our effective tariff mitigation strategy support resilience

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![](lcii-irshortdeck2q25fina004.jpg)

4 RV OEM Performance and Trends • 81,400 North American wholesale towable units shipped in Q2 2025, down 1% YoY • 97,100 estimated North American retail towable units sold in Q2 2025, down 2% YoY • Gained share in our top 5 RV product categories: appliances, awnings, chassis, furniture, and windows for the quarter ended June 30, 2025 • Q2 2025 RV OEM sales up 3% YoY, driven by market share gains, increased mix in higher-content fifth wheels, and targeted price increases related to tariffs, partially offset by softness in the European RV OEM market Net Sales (in thousands) $489,969 $503,298 Q2 2024 Q2 2025 NA RV Wholesale/Retail/Inventory Change Retail Wholesale Inventory Linear (Inventory) 3Q 21 4Q 21 1Q 22 2Q 22 3Q 22 4Q 22 1Q 23 2Q 23 3Q 23 4Q 23 1Q 24 2Q 24 3Q 24 4Q 24 1Q 25 2Q 25 0 50,000 100,000 150,000 200,000 (80,000) (60,000) (40,000) (20,000) — 20,000 40,000 60,000 80,000

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![](lcii-irshortdeck2q25fina005.jpg)

Touring Coil Suspension Furrion® 18K Chill Cube Air Conditioner \* "Other" includes impact of RV unit shipments versus industry production, index sales price adjustments, and the impact of acquisitions and divestitures New Window Designs and Integrated Shades Innovation Driving RV Organic Content Growth Sequential Towable Content Growth (LTM) YoY Towable Content Growth (LTM) Key 2025 Model Year Product Wins 5

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![](lcii-irshortdeck2q25fina006.jpg)

6 Adjacent Industries OEM Performance and Trends • Q2 2025 Adjacent Industries sales up 10% YoY • Increase primarily due to acquired sales from recent acquisitions in the resilient bus market, partially offset by continued headwinds in marine • Trans Air (acquired in March) - bus climate control systems • Freedman Seating - bus seating solutions • Expanding presence in transportation and building products markets: • Increasing market share in axles to top trailer brands, which produce 500k+ utility and cargo trailers annually • Adding windows in off-road vehicles, school buses, and manufactured housing Net Sales (in thousands) $306,155 $336,261 Q2 2024 Q2 2025 Q2 2025 Adjacent Industries OEM Net Sales by Market (in millions) $90 $63 $49 $79 $50 $5 Utility Trailers Marine Building Products Transportation International Other Q2 2024 Adjacent Industries OEM Net Sales by Market (in millions) $78 $64 $52 $54 $51 $7 Utility Trailers Marine Building Products Transportation International Other

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![](lcii-irshortdeck2q25fina007.jpg)

7 Aftermarket Performance and Trends • Q2 2025 sales up 4% from the prior year driven by product innovations and the expanding Camping World relationship within the RV aftermarket, partially offset by lower volumes within the automotive aftermarket • 200 bps YoY margin contraction primarily driven by increases in sales mix of lower margin products and investments in capacity and distribution processes to support growth of the aftermarket segment, partially offset by increases in selling prices for targeted products primarily related to increasing material costs • Driving portfolio expansion in diversified markets with towing and truck accessories, boating accessories, appliances, and electronics • Meeting heightened repair and replacement demand as RV ownership has reached record levels in recent years Net Sales (in thousands) $258,420 $267,691 Q2 2024 Q2 2025

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![](lcii-irshortdeck2q25fina008.jpg)

8 Innovation Driving Growth Continued focus on innovation driving an ongoing increase of new product introductions Marine Ladder Bi Fold Sundeck Anti-Lock Braking Systems 4000 Series Windows Chill Cube Air Conditioner Touring Coil Suspension Residential Windows

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![](lcii-irshortdeck2q25fina009.jpg)

9 Capture Share of $13 Billion of Addressable Opportunities in Adjacent and Aftermarket End Markets • Leveraging the expertise gained as a market leader in the RV space • Delivering innovative products through leading, nimble manufacturing capabilities • Utilizing manufacturing synergies to enhance offerings in the transportation and building products markets • Capitalizing on opportunities as RVs enter the repair and replacement cycle with our content Growth Strategy Expanding share across diversified portfolio with cutting-edge innovations and best-in-class service Focus on Delivering Unparalleled Customer Experience • Over 150K RV consumer and dealer contacts monthly • Over 1M technical video views and technical website hits in the second quarter • Developing innovations that enhance the outdoor experience with a focus on safety, durability, and enjoyment • Building upon long-term relationships by offering trainings and online resources to further cement Lippert as a trusted partner Capital Allocation Strategy • Focusing on strategic acquisitions to expand presence in existing markets • Investing in R&D and innovation to drive profitable growth • Returning capital to shareholders • Maintaining a strong balance sheet $13B of Addressable Opportunities in Adjacent and Aftermarket Markets (in billions) $7.4 $0.6 $1.0 $1.7 $2.4 Auto, Marine & RV Aftermarket Marine Building Products Transportation International

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![](lcii-irshortdeck2q25fina010.jpg)

10 Strategic Acquisitions • Recently completed two acquisitions to deepen our presence in adjacent industries • Trans/Air acquired in March 2025 • Provider of climate control systems for a wide range of vehicles for the bus markets • Freedman Seating acquired in April 2025 • Manufacturer of transportation seating solutions • Serves bus, rail and specialty vehicle/ transportation vehicle markets Capital Allocation Highlights Executing on our capital allocation strategy through acquisitions, debt refinancing, and returning capital to shareholders Returning Capital to Shareholders • Paid quarterly dividend of $1.15 per share, aggregating $29 million • Repurchased 424K shares of common stock for $38 million in the second quarter under newly authorized $300 million repurchase program • Repurchased an additional 634k shares of common stock for $61.9 million in July and August 2025, resulting in $186.6 million of total capital returned to shareholders through dividends and share buybacks year-to-date through August 1, 2025 (in m ill io ns) $3 $96 $4 $4 $4 $464 $4 $373 2026 Convertible Notes 2030 Convertible Notes Term Loan B 2025 2026 2027 2028 2029 2030 2031 2032 $— $490 Future Debt Maturities

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![](lcii-irshortdeck2q25fina011.jpg)

11 Q2 2025 Financial Performance Operating Margin 8.6% 7.9% Second Quarter 2024 Second Quarter 2025 (in th ou sa nd s) Consolidated Net Income $61,163 $57,635 Second Quarter 2024 Second Quarter 2025 (in th ou sa nd s) Adjusted EBITDA\* $122,643 $121,320 Second Quarter 2024 Second Quarter 2025 \* Additional information regarding Adjusted EBITDA, as well as reconciliation of this non-GAAP financial measure to the most directly comparable GAAP financial measure, is provided in the Appendix. (in th ou sa nd s) Consolidated Net Sales $1,054,544 $1,107,250 Second Quarter 2024 Second Quarter 2025 +5% (70) bps (1)%(6)%

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![](lcii-irshortdeck2q25fina012.jpg)

12 Liquidity and Cash Flow As of and for the six months ended June 30 2025 2024 Cash and Cash Equivalents $192M $130M Remaining Availability under Revolving Credit Facility(1) $595M $373M Capital Expenditures $22M $21M Dividends $58M $53M Share Repurchases $66M $—M Debt / Net Income (TTM) 6.2x 6.8x Net Debt/Adjusted EBITDA (TTM)(2) 2.1x 2.1x Cash from Operating Activities $155M $185M Free Cash Flow(2) $133M $164M 1 Remaining availability under the revolving credit facility is subject to covenant restrictions. 2 Additional information regarding net debt to Adjusted EBITDA and free cash flow, as well as a reconciliation of these non-GAAP financial measures to the most directly comparable GAAP financial measures, is provided in the Appendix.

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![](lcii-irshortdeck2q25fina013.jpg)

13 2025 Tariff Update 2025 Target2024 Actual Raw Material & Component Source by Market (at year-end) China ~24% Rest of World ~11% U.S.A. ~65% China ~10% Rest of World ~23% U.S.A. ~67% Assuming reciprocal tariffs at a 10% rate and all other announced tariffs, potential 2025 margin impact of ~290bps (prior to mitigation efforts) Q2 Breakdown: • $15.4 million of tariff expenses in the quarter mitigated 2H Tariff Mitigation Actions: • Diversify supply chain - transition into more strategically favorable regions ◦ Proceeding cautiously due to volatility in tariff rates • Tariff cost share with vendors • Pricing pass-through on targeted products Working with OEM customers to mitigate cost impacts to end-consumer through: • Product and pricing strategies of Good/Better/Best • Utilizing existing inventory product Q2 2025 Actual China ~17% Rest of World ~16% U.S.A. ~67%

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14 2025 Outlook RV Industry • Our current full year 2025 North American forecast is 320 - 350k wholesale unit shipments • Continued momentum and product placement with newly launched products in recent model year updates • Consolidated July 2025 sales up 5% YoY, primarily due to acquisition sales and pricing, partially offset by a decrease in RV production volume. Other Markets • Aftermarket - Continued focus on organic and inorganic growth, expect headwinds in automotive aftermarket to continue • Marine - Expect continued slowness for the balance of 2025 • Transportation, Building Products and Utility Trailer Markets - Expanding market penetration with modest industry headwinds Cost Reductions • On track to deliver an 85bp margin improvement in 2025 through optimizing infrastructure

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15 Appendix Reconciliation of Non-GAAP Measures ADJUSTED EBITDA Three months ended June 30, Six months ended June 30, ADJUSTED EBITDA (TTM) Twelve months ended June 30, ($ in thousands) 2025 2024 2025 2024 ($ in thousands) 2025 2024 Net income $57,635 $61,163 $107,073 $97,708 Net income $152,232 $121,218 Interest expense, net 9,689 7,962 15,680 17,283 Interest expense, net 27,296 37,064 Provision for income taxes 20,480 21,479 38,315 33,224 Provision for income taxes 51,562 38,144 Depreciation and amortization 30,323 32,039 59,865 64,728 Depreciation and amortization 120,830 130,947 EBITDA $118,127 $122,643 $220,933 $212,943 EBITDA $351,920 $327,373 Loss on extinguishment of debt — — 8,053 — Loss on extinguishment of debt 8,053 — Executive separation costs 3,193 — 3,193 — Executive separation costs 3,193 — Adjusted EBITDA $121,320 $122,643 $232,179 $212,943 Adjusted EBITDA $363,166 $327,373 Net sales $1,107,250 $1,054,544 $2,152,840 $2,022,573 Net sales $3,871,475 $3,819,432 Net income as a % of Net Sales 5.2 % 5.8 % 5.0 % 4.8 % Net income as a % of Net Sales 3.9 % 3.2 % Adjusted EBITDA as a % of Net Sales 11.0 % 11.6 % 10.8 % 10.5 % Adjusted EBITDA as a % of Net Sales 9.4 % 8.6 % FREE CASH FLOW Six months ended June 30, NET DEBT/ADJUSTED EBITDA (TTM) June 30, 2025 June 30, 2024 ($ in thousands) 2025 2024 Total debt $947,990 $829,746 Net cash flows provided by Less cash and cash equivalents 191,931 130,418 operating activities $154,937 $185,282 Net debt $756,059 $699,328 Capital expenditures (21,774) (21,328) Free cash flow $133,163 $163,954 Total Debt/Net Income (TTM) 6.2x 6.8x Net Debt/Adjusted EBITDA (TTM) 2.1x 2.1x Adjusted EBITDA, Adjusted EBITDA as a percentage of net sales, and free cash flow are non-GAAP performance measures included to illustrate and improve comparability of the Company's results from period to period. Adjusted EBITDA is defined as net income before interest expense, provision for income taxes, depreciation and amortization expense, loss on extinguishment of debt, and executive separation costs. Free cash flow is defined as net cash flows provided by operating activities less capital expenditures. The Company considers these non-GAAP measures in evaluating and managing the Company's operations and believes that discussion of results adjusted for these items is meaningful to investors because they provide a useful analysis of ongoing underlying trends. The adjusted measures are not in accordance with, nor are they a substitute for, GAAP measures, and they may not be comparable to similarly titled measures used by other companies. The net debt to Adjusted EBITDA ratio on a trailing twelve month basis is a non-GAAP performance measure included because the Company believes it is useful to investors in evaluating the Company's leverage. The net debt to Adjusted EBITDA ratio is defined as total debt, less cash and cash equivalents, divided by Adjusted EBITDA. The net debt to Adjusted EBITDA ratio is a non-GAAP measure and should not be considered a substitute for the ratio of total debt to net income determined in accordance with GAAP. The Company's calculation of its net debt to Adjusted EBITDA ratio might not be calculated in the same manner as, and thus might not be comparable to, similarly titled measures used by other companies.

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16 Appendix Reconciliation of Non-GAAP Measures (cont.) ADJUSTED NET INCOME Three Months Ended June 30, Six months ended June 30, ($ in thousands, except per share amounts) 2025 2024 2025 2024 Net income $57,635 $61,163 $107,073 $97,708 Loss on extinguishment of debt — — 8,053 — Executive separation costs 3,193 — 3,193 — Tax effect of adjustment (765) — (2,695) — Adjusted net income $60,063 $61,163 $115,624 $97,708 ADJUSTED NET INCOME PER DILUTED SHARE Net income per common share - diluted $2.29 $2.40 $4.23 $3.85 Loss on extinguishment of debt — — 0.32 — Executive separation costs 0.13 — 0.13 — Tax effect of adjustment (0.03) — (0.11) — Adjusted net income per common share - diluted $2.39 $2.40 $4.57 $3.85 Weighted average common shares outstanding - diluted 25,157 25,504 25,297 25,367 Adjusted net income and adjusted net income per diluted common share are non-GAAP performance measures included to illustrate and improve comparability of the Company's results from period to period. Adjusted net income is defined as net income adjusted for loss on extinguishment of debt and executive separation costs and the related tax effects. The Company considers these non-GAAP measures in evaluating and managing the Company's operations and believes that discussion of results adjusted for these items is meaningful to investors because they provide a useful analysis of ongoing underlying trends. The adjusted measures are not in accordance with, nor are they a substitute for, GAAP measures, and they may not be comparable to similarly titled measures used by other companies.

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17 Appendix Historical Unit Mix as Percentage of LCI RV OEM Chassis Shipments 15.5% 15.8% 15.5% 15.9% 15.4% 18.6% 17.9% 20.5% 19.3% 18.9% 23.0% 24.3% 23.7% 20.5% 84.5% 84.2% 84.5% 84.1% 84.6% 81.4% 82.1% 79.5% 80.7% 81.1% 77.0% 75.7% 76.3% 79.5% Single Axle Travel Trailer Multi Axle TT and Fifth Wheels 1Q22 2Q22 3Q22 4Q22 1Q23 2Q23 3Q23 4Q23 1Q24 2Q24 3Q24 4Q24 1Q25 2Q25 —% 20.0% 40.0% 60.0% 80.0% 100.0%

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Q&A

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