LCI Industries reported third‑quarter 2025 results showing consolidated net sales of $1,036.5 million, up 13.2% year‑over‑year. Net income rose to $62.5 million, or $2.55 per diluted share, a 75% increase from the $35.6 million net income reported in Q3 2024. Operating profit margin expanded to 7.3% from 5.9% in the prior year, driven by a $8.6 million gain in fixed‑cost absorption and a $9.1 million benefit from lower material costs. Adjusted net income reached $48.1 million, up 35% to $1.97 per diluted share, while adjusted EBITDA grew 24% to $105.9 million from $85.2 million in Q3 2024.
The OEM segment generated $790.0 million in net sales, with RV OEM sales at $470.1 million and adjacent‑industry OEM sales at $319.9 million. RV OEM sales increased 15% year‑over‑year, and adjacent‑industry OEM sales grew 22% to $319.9 million, supported by acquisitions and higher utility‑trailer demand. Aftermarket sales rose 7% to $246.5 million, with operating profit at $31.9 million and a margin of 12.9%, a decline from 13.9% in Q3 2024.
Management attributed revenue growth to higher North American RV volumes, favorable pricing, and $41.9 million in sales from acquisitions completed in the twelve months ended September 30, 2025. Cost‑control initiatives, including material‑sourcing strategies and supply‑chain efficiencies, contributed to the margin expansion, while the company maintained disciplined capital allocation.
The company noted ongoing headwinds such as higher material costs driven by tariffs and rising steel and aluminum prices, which could impact future profitability. Management emphasized the importance of continued cost management and pricing flexibility to mitigate these pressures.
LCI Industries provided guidance for October 2025 net sales of approximately $380 million, up 15% year‑over‑year, and is on track to deliver an 85‑basis‑point operating profit margin improvement for full‑year 2025 compared to 2024. The company forecasts a 7.0% to 8.0% operating profit margin for 2026 and is exploring divestiture of approximately $75 million of revenue that is dilutive to the business.
Financially, LCI Industries reported $200 million in cash and cash equivalents and $595 million available under its revolving credit facility as of September 30, 2025. The company returned $215 million to shareholders through dividends and share repurchases year‑to‑date and continues to invest in innovation, with new product lines projected to reach significant annualized sales run rates.
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