LCI INDUSTRIES

LCI Industries announced that it and Patrick Industries filed their respective Premerger Notification and Report Forms under the Hart-Scott-Rodino Antitrust Improvements Act of 1976 on August 5, 2026. This filing is in connection with the previously disclosed merger agreement from June 30, 2026, where LCI Industries will merge into subsidiaries of Patrick Industries. The expiration or termination of the HSR Act waiting period is a key condition for the completion of the Mergers, which are still subject to other closing conditions.

LCI Industries reported Q2 2026 adjusted diluted EPS of $2.70, a 13% increase, despite a 4% decline in consolidated net sales to $1.1 billion. The company achieved expanded profitability through disciplined operational efficiencies and cost reductions, with adjusted operating profit up 8% to $99 million. Aftermarket net sales grew 11%, offsetting a 10% decline in OEM sales. LCI also announced nearly $90 million in tariff refunds to customers and maintained its full-year adjusted operating profit margin outlook of 7.5% to 8%, though full-year revenue and RV wholesale shipment guidance were revised downwards. The proposed merger with Patrick Industries continues to progress.

LCI Industries announced that its Board of Directors has approved a regular quarterly cash dividend of $1.15 per share of common stock. This dividend is scheduled to be paid on September 4, 2026, to shareholders who are on record at the close of business on August 21, 2026.

LCI Industries reported a decrease in net sales for the second quarter of 2026, reaching $968.7 million, down from $1,107.3 million in the prior year. Despite this, the company achieved a significant increase in net income to $67.1 million and diluted EPS of $2.75, compared to $57.6 million and $2.29 respectively in Q2 2025. The results were positively impacted by $94.9 million in IEEPA Tariff refunds, though $88.8 million was recorded as a liability for customer pass-through. The company also noted the maturity and cash settlement of its 2026 Convertible Notes and maintained strong liquidity with $595.2 million available under its revolving credit facility.

LCI Industries reported mixed second quarter 2026 results, with net income increasing 16% to $67 million and diluted EPS up 20% to $2.75, despite a 13% decrease in net sales to $969 million. The company also announced it entered into a definitive agreement to merge with Patrick Industries, Inc. in an all-stock transaction. LCI Industries lowered its 2026 guidance for North American RV wholesale shipments and revenue, but reaffirmed its operating profit margin and adjusted EPS outlook, citing strong execution and expanded profitability.

LCI Industries announced that it will release its second quarter 2026 financial results before the market opens on Wednesday, August 5, 2026. The company will also host a conference call and webcast on the same day at 8:30 a.m. ET to discuss these results. Investors can access the webcast and a supplemental earnings presentation on the company's investor relations website.

LCI Industries appointed Robert P. Hureau to its Board of Directors, increasing the board size to seven. He will serve as an independent director on the Audit, Compensation and Human Capital, and Risk Committees. Mr. Hureau brings extensive executive leadership and financial expertise from his roles as CEO of Alamo Group Inc. and former CEO of American Trailer World, along with various CFO positions in global industrial and distribution businesses.

LCI Industries and Patrick Industries announced an all-stock merger agreement, creating a premier component solutions provider for outdoor enthusiast, housing, and transportation markets. LCI shareholders will receive 1.2440 shares of Patrick common stock for each LCI share, resulting in Patrick shareholders owning approximately 52% and LCI shareholders 48% of the combined entity. The merger is expected to generate over $150 million in run-rate cost synergies and result in a pro forma revenue of $8.1 billion and adjusted EBITDA of $1.0 billion. The transaction, unanimously approved by both boards, is anticipated to close in the first half of 2027.

LCI Industries' subsidiary, Lippert Components, Inc., finalized amended and restated employment agreements with Group President Ryan R. Smith and President Jamie M. Schnur, effective June 19, 2026. These agreements clarify severance terms for "Approved Retirement" or death. Notably, Mr. Smith's cash severance multiple was reduced from three times to two times base salary and average bonus, with related payment and restrictive covenant periods shortened from 36 to 24 months.

LCI Industries announced significant leadership transitions, with Jason D. Lippert retiring as President and CEO and resigning from the Board after 32 years. John A. Sirpilla, a long-standing independent director, has been appointed Interim Chief Executive Officer. Additionally, Tracy D. Graham stepped down as Board Chair and member, with Virginia Henkels named as the new Chair. The company's Board will initiate a comprehensive search for a permanent CEO, while Mr. Lippert will serve in an advisory capacity for one year to support the transition, receiving a monthly cash payment and retaining eligibility for certain unvested equity awards. Mr. Sirpilla's compensation package includes an annual base salary of $1,100,000 and a one-time RSU grant of $1,800,000.