LCI Industries Reports Record Profit
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Elkhart-based LCI Industries (NYSE: LCII) is reporting record full-year net income of $288 million in 2021, up from $129 million the previous year. Chief Executive Officer Jason Lippert said, despite challenges involving labor, freight and supply chains, the company delivered record revenues of $4.5 billion in 2021.
The recreational vehicle manufacturer is also reporting record fourth quarter net income of $82.3 million, up from $33.6 million during the same period in 2020.
“This performance is the direct result of the dedication of our team members who worked tirelessly to overcome these headwinds by leveraging our automation and continuous improvement initiatives,” said Lippert. “Organic growth was up significantly this year, and, at the same time, we further laid the groundwork for long-term growth through six strategic acquisitions which expanded our competitive footprint in new, growing markets while adding a wide range of innovative offerings.”
Last year, the manufacturer acquired several companies, including Furrion in Elkhart, Trazcor Inc. in Goshen, and Texas-based Ranch Hand Equipment LLC, among others.
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