RVBusiness, September/October 2019

LCI 2Q Revenue Dips but Aftermarket Boosts Earnings Lippert While the North American RV market remains challenging our diversification strategy continues to generate solid momentum As of June 30 our adjacent aftermarket and international sales comprised over 40 of our last 12 month sales which was supported by 29 growth in domestic aftermarket sales over the first quarter and 13 year over year In addition our aftermarket segment operating margin has expanded to 171 in the second quarter and 149 year to date RVB 30 to 2468 from 2438 a year ago The content increases are a result of organic growth including new product introductions and price increases as well as acquisitions Lippert reported In the second quarter we delivered solid performance led by growth in aftermarket as well as sequential margin expansion driven by market share gains operational efficiencies and material cost improvements noted LCI CEO Jason S E P T E M B E R O C T O B E R 2 0 1 9 RVBusiness 19 Elkhart Ind based LCI Industries parent to Lippert Components Inc reported that consolidated net sales for the second quarter ended June 30 were 6291 million representing an 8 decline from 2018 second quarter net sales of 6845 million Net income during the three month period was 475 million compared to 472 million in the second quarter of 2018 The firm noted that the decrease in year over year net sales for the second quarter of 2019 reflected lower RV wholesale shipments as dealers normalize their inventory levels which Lippert believes to be in the final stages of correction That was positively offset by continued growth in the companys aftermarket and international markets Net sales from acquisitions completed by the company over the 12 months contributed 86 million in the second quarter of 2019 LCI reported that the companys content per travel trailer and fifth wheel RV for the 12 months increased 74 to 3486 compared to 3412 the prior year The companys content per motorhome for the 12 months increased Camping World Sees Uptick in 2Q Sales Despite Market Headwinds Camping World Holdings Inc reported revenue for the second quarter of 15 billion a 23 increase from the year ago period For the second quarter our company generated record revenue of nearly 15 billion and sold an all time high of 33715 new and used recreational vehicles said Chairman and CEO Marcus A Lemonis Despite some of the headwinds across the new RV market which were evidenced by a significant decline in both new RV wholesale shipments and RV registration reports we grew both revenue and unit volume and achieved close to 100 million in adjusted EBITDA in the quarter Among the 2Q highlights as reported by CWHI a retail network accounting for more than 20 of U S retail that as of June 30 operated a total of 227 RV and outdoor retail locations with 151 of them selling new and or used RVs Revenue increased 23 to 147 billion and the number of active customers increased 258 to 525 million Good Sam memberships increased 134 RVB