LCI Industries (LCII) FY2019 results: revenue $2.4 billion, down 4.2% on the year
LCI Industries (LCII) reported revenue of $2.4 billion for fiscal 2019, the year ended 31 December 2019, down 4.2% on the year before. Net income was $147 million, down 1.4%, and diluted earnings per share $5.84. The figures are the company's own, from the 10-K it filed with the SEC on 27 February 2020.
Revenue
$2.4 billion
-4.2% on the year
FY2012FY2019
Operating margin
8.4%
8.0% a year earlier
FY2012FY2019
Net income
$147 million
-1.4% on the year
FY2012FY2019
Diluted EPS
$5.84
+0.2% on the year
FY2012FY2019
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2019
FY2018
FY2017
On the year
Last 8 years
Revenue
2,371
2,476
2,148
-4.2%
Cost of revenue
1,832
1,955
1,655
-6.3%
Gross profit
539
520
493
+3.6%
Gross margin
22.7%
21.0%
23.0%
Selling, general and administrative
339
322
279
+5.4%
Operating income
200
199
214
+0.7%
Operating margin
8.4%
8.0%
10.0%
Pre-tax income
191
192
213
-0.5%
Income tax
44.9
43.8
80.0
+2.5%
Effective tax rate
23.5%
22.8%
37.6%
Net income
147
149
133
-1.4%
Net margin
6.2%
6.0%
6.2%
Diluted EPS
$5.84
$5.83
$5.24
+0.2%
$ million except per share. Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.
Cash flow
$ million
FY2019
FY2018
FY2017
On the year
Last 8 years
Operating cash flow
270
157
153
+72.1%
Capital expenditure
58.2
120
87.2
-51.4%
Free cash flow
211
36.8
65.5
+474.5%
Free cash flow margin
8.9%
1.5%
3.0%
Cash from investing
-504
-303
-146
Cash from financing
255
135
-66.9
+88.8%
Depreciation and amortisation
75.4
67.5
54.7
+11.6%
Share-based compensation
16.1
14.1
20.0
+14.3%
Buybacks
0.0
28.7
0.0
Dividends paid
63.8
59.3
51.1
+7.7%
Dividend per share
$2.55
$2.35
$2.05
+8.5%
Diluted shares, weighted
25m
25m
25m
-1.5%
Shares outstanding at period end
25m
n/a
n/a
Balance sheet
$ million
FY2019
FY2018
FY2017
On the year
Last 8 years
Shareholders' equity
801
706
653
+13.4%
Debt
631
294
49.9
+114.5%
Operating lease liabilities
79.8
0.0
n/a
Other liabilities
351
244
243
+44.3%
Total liabilities and equity
1,863
1,244
946
+49.7%
Fixed assets
366
323
229
+13.5%
Goodwill
351
180
124
+94.9%
Intangible assets
341
176
130
+93.6%
Cash and equivalents
35.4
14.9
26.0
+136.9%
Receivables
200
122
82.2
+64.2%
Inventory
394
341
275
+15.6%
Other assets
175
87.2
79.6
+100.6%
Total assets
1,863
1,244
946
+49.7%
10-K for the year ended 31 December 2019, filed 27 February 2020: the filing.