LCI Industries Reports Net Income of $7.3 Million for the First Quarter of 2023

LCI Industries,(LCII) a leading supplier o f components for the recreational vehicle and adjacent industries, has released its financial results for the first quarter of 2023. The company reported a net income of $7.3 million for the quarter, showcasing its financial resilience amidst challenging market conditions. Furthermore, LCI Industries achieved a total revenue of $973.3 million during the same period, reflecting its consistent performance in the face of economic fluctuations.

Net Income and Earnings Per Share

In the three months ended March 31, 2023, LCI Industries generated a net income of $7.3 million, demonstrating the company's ability to maintain profitability despite external pressures. This performance stands in contrast to the net income of $196.2 million reported in the same period last year. Earnings per common share were reported at $0.29 both on a basic and diluted basis, in comparison to $7.75 and $7.71 for the first quarter of 2022. The company's weighted average common shares outstanding showed minimal variance between the two quarters, with 25,228 shares in Q1 2023 compared to 25,329 in Q1 2022.

Revenue and Gross Profit