Lippert CEO Sounds Positive Note on Industry

A picture of Lippert President and CEO Jason Lippert

Lippert President and CEO Jason Lippert told analysts Tuesday the RV industry may be slowing but retained growth opportunities.

“These little down spouts in the RV business, they never last long,” he said. “The RV industry continues to grow and there are lots of opportunities for us and our peers in this business.”

Jason Lippert discussed the supplier’s production plans, saying Lippert would adjust business to new levels for as long as necessary.

“As volume skyrocketed in 2021 and 2020, we focus on investment in second and third shift to increase our output and our core product lines, creating a flexible cost structure that enables us to quickly and easily adapt to changes in the production environment while helping us maintain solid levels of profitability,” he said. “Second and third shifts are much easier to flex than if we had added new buildings.”

On the product front, Jason Lippert said the company would add $250 million to $300 million in new business after the upcoming model-year change. Some new business comes from Furrion, some from other new product launches and the rest in market share gains, he said.

“ABS (anti-lock brake systems) are something we are super excited about,” Jason Lippert said. “It is going to take three to four years to really penetrate the entire industry on that, which we feel that we will. Same thing with the (new Furrion) power cord set.”

Some new products, such as hot water heaters, will be easier conversions, Jason Lippert said, because each RV already has tank heaters without Lippert in the space.

“Furnaces are coming soon for us, which is another big appliance that we are selling zero of today,” he said. “You look over the course of a couple years and what we can do to get meaningful volume there, it will continue to add up.”

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