In 2020, LCI Industries and Lippert Components Inc.’s posted its best sales year in its 74-year history.
Wednesday, the company previewed details that 2021 could be even better.
The company announced 2021 first quarter preliminary net sales of approximately $1 billion. That would be the highest quarterly amount in company history, topping the $827.7 million in net sales in 2020’s third quarter.
In addition, the $1 billion figure would put Lippert on pace to shatter 2020’s total net sales record of $2.8 billion.
“Following a pivotal year in the RV industry during 2020, we had another strong quarter, with sales anticipated to have increased more than 50% over the first quarter of 2020, as we continued to meet exceptional demand across the outdoor recreation space,” LCI Industries President and CEO Jason Lippert said. “These record results illustrate the strength of our teams, as well as the resilience of our business as we captured new growth opportunities while mitigating supply chain constraints facing the larger industry.”
Thompson Research Group Analyst Kathryn Thompson suggested the company’s results could have been even better.
“The results are likely muted partly from supply chain constraints from both general supply/demand dynamics, as well as implications from the Texas freeze, such as reduced foam for seats,” she said. “Regardless of the constraints, the industry seems to have been able to continue production at a break neck pace to work through historical backlog levels.”
