Lippert parent LCI Industries reported third-quarter financial results Nov. 5. As previously announced, LCI entered into a definitive agreement to combine with Patrick Industries in an all-stock merger and will hold a special meeting of stockholders Nov. 18 to consider the merger.

Third-quarter 2026 highlights versus 2025:

  • Consolidated net sales of $992.5 million relative to $1.04 billion.
  • Diversified businesses grew, with adjacent industries net sales growth of 7% and aftermarket up 6%, partially mitigating lower RV OEM sales
  • Operating profit margin expanded 30 basis points to 7.6% from 7.3%.
  • Adjusted operating profit margin, which excludes the impacts of merger-related expenses and restructuring costs, expanded 100 basis points to 8.3% from 7.3%.
  • Net income of $50 million, or 5% of net sales, relative to $62 million, or 6% of net sales.

“Our third-quarter results reflect continued progress in improving profitability in a soft outdoor recreation market. Margin expansion and 6% growth in product content per unit contributed to our performance and position us to achieve our updated full-year outlook,” Johnny Sirpilla, interim CEO, said in a press release. “Our 2026 performance has been driven by taking actions on those areas within our control. This includes the ongoing pursuit of operational efficiencies and strategic cost reductions. Our cost management and growth in adjacent industries and aftermarket sales contributed to our bottom line results and, we believe, leave us well-positioned as conditions normalize.

“We are also advancing toward the proposed merger with Patrick Industries, which we continue to expect to close in the first half of 2027. Until that time, our focus remains on disciplined execution and strengthening the business under current market conditions, while driving long-term shareholder value,” Sirpilla said.

LCI said OEM net sales decreased $57.7 million, or 7%, to $732.3 million for the third quarter, compared with $790 million in the same period of 2025. RV OEM net sales decreased 17% to $389.9 million.

Adjacent industries OEM net sales rose 7% to $342.4 million, driven by higher sales to transportation, marine and manufactured housing OEMs.

The company said operating profit of the OEM segment was $44.1 million in the quarter, or 6% of net sales. Those figures in 2025 were $43.6 million, or 5.5% of net sales. Aftermarket net sales increased 6% to $260.2 million, compared with $246.5 million for the same quarter a year earlier. The increase was primarily driven by increases in volume in the automotive aftermarket.

Operating profit of the aftermarket segment was $30.9 million, or 11.9% of net sales, compared with $31.9 million, or 12.9% of net sales, in the same period of 2025.

In its outlook, the company currently expects:

  • October net sales of approximately $341 million, down 10% year-over-year.
  • 2026 North American RV wholesale shipments of 285,000 to 295,000.
  • 2026 revenue of $3.9 billion to $4 billion.
  • 2026 adjusted operating profit margin of 7.5% to 8%.
  • 2026 adjusted EPS of $8.25 to $8.50.