US-based component maker LCI Industries, which operates under the Lippert name, has reported its financial results for the fourth quarter and full year (ending 31 December 2025), showing an increase in net sales and revenue.
Lippert 2025 full-year performance
For the year ended 31 December 2025, consolidated net sales increased 10 per cent to $4.1bn from $3.7bn in 2024. The firm says this $380.8m rise reflects $124.5m in revenue from acquired businesses, pricing actions related to higher material costs and higher North American RV sales, supported by a greater mix of higher-content fifth-wheel units, market share gains, and a modest increase in wholesale shipments.
Net income increased 32 per cent to $188.3m, or $7.57 per diluted share, from $142.9m, or $5.60 per diluted share. Adjusted net income totals $185.4m, or $7.46 per diluted share, excluding loss on extinguishment of debt, gain on sale of real estate, restructuring costs and executive separation costs, net of tax effect. Operating profit margin improved to 6.8 per cent from 5.8 per cent.
Jason Lippert, president and chief executive, says: “We delivered a very strong 2025 with our strategic execution delivering results that validate our multi-year investment in operational excellence and diversification. Despite a difficult wholesale environment in the fourth quarter, our team’s relentless focus on innovation, efficiency, and market expansion contributed to a strong fourth quarter performance. This included 16 per cent revenue growth and operating profit that more than doubled, capping off a year of accomplishments that have positioned us well as we look to the future.
“We enter 2026 in a strong competitive position, poised to deliver operating margin expansion and exceptional shareholder value creation.”
Lippert Q4 2025 results
Consolidated net sales increased 16.1 per cent to $932.7m in the fourth quarter of 2025, compared with $803.1m in the same period of 2024. The $129.6m rise is mainly attributable to a $115m increase in the OEM segment. This reflects sales price adjustments linked to higher material costs, $40.1m in revenue from businesses acquired during the year and higher North American RV sales driven by market share gains and a greater proportion of premium fifth-wheel units.
Based on current market conditions and existing tariffs, the company expects January 2026 net sales of approximately $343m, up 4 per cent year-on-year. It forecasts revenue of $4.2bn to $4.3bn, operating profit margin of 7.5 per cent to 8 per cent and adjusted EPS of $8.25 to $9.25.
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