Lippert Posts Results of Second Quarter
August 9, 2023
Net sales of $1 billion were down 34% year-over-year, driven in part by decreased North American RV wholesale shipments.
Net sales of $1 billion were down 34% year-over-year, driven in part by decreased North American RV wholesale shipments.
Net sales decreased 41% compared to the year-ago quarter, and marine sales of $119.3 million were down 6%.
Lillian D. Etzkorn assumes the position of executive vice president and chief financial officer.
Consolidated net sales were down 3%, but North American marine OEM net sales were up 22%.
The company said its mix of RV and marine exposure is enhancing earnings as consumers take to the outdoors for vacation options.
The company’s Bradenton, Fla., production facility “demonstrated high performance, specifically in the area of leadership and culture.”
The company said net income more than doubled in the first quarter, and sales to marine manufacturers rose 49 percent.
The summit will deal with topics such as human resources, finance, marketing and general business practices.
The company reports net sales of $1.2 billion and net income of $82.3 million.
With “historic levels of new consumers continuing to take advantage of the outdoor lifestyle,” the Lippert parent posted $1.2 billion in net sales.
Net sales of $1 billion were down 34% year-over-year, driven in part by decreased North American RV wholesale shipments.
Net sales decreased 41% compared to the year-ago quarter, and marine sales of $119.3 million were down 6%.
Lillian D. Etzkorn assumes the position of executive vice president and chief financial officer.
Consolidated net sales were down 3%, but North American marine OEM net sales were up 22%.
The company said its mix of RV and marine exposure is enhancing earnings as consumers take to the outdoors for vacation options.
The company’s Bradenton, Fla., production facility “demonstrated high performance, specifically in the area of leadership and culture.”
The company said net income more than doubled in the first quarter, and sales to marine manufacturers rose 49 percent.
The summit will deal with topics such as human resources, finance, marketing and general business practices.
The company reports net sales of $1.2 billion and net income of $82.3 million.
With “historic levels of new consumers continuing to take advantage of the outdoor lifestyle,” the Lippert parent posted $1.2 billion in net sales.
