LCI Industries (LCII) Q3 FY2026 earnings: revenue $992 million, down 4.2% on the year

LCI Industries (LCII) reported revenue of $992 million for Q3 FY2026, the quarter ended 30 September 2026, down 4.2% on the same quarter a year earlier. Net income was $50 million, down 19.9% on the year, and diluted earnings per share $2.05. The figures are the company's own, from the 10-Q it filed with the SEC on 5 November 2026.

Revenue

$992 million

-4.2% on the year · +2.5% on the quarter

Q4 FY2024Q3 FY2026

Operating margin

7.6%

7.3% a year earlier

Q4 FY2024Q3 FY2026

Net income

$50 million

-19.9% on the year · -25.4% on the quarter

Q4 FY2024Q3 FY2026

Diluted EPS

$2.05

-19.6% on the year · -25.5% on the quarter

Q4 FY2024Q3 FY2026

this quarterthe same quarter a year earlierHover a bar for its figure.

What management said

Guidance figures: 1 lowered, 2 narrowed, 1 new, 4 kept.

Net sales fell on lower RV shipments: Net sales were $992.5 million against $1,036.5 million, mainly on lower North American RV wholesale shipments, partly offset by commodity-linked price increases and automotive aftermarket growth.
Diluted EPS down, adjusted EPS up: Diluted EPS fell 20% to $2.05, while adjusted diluted EPS rose 12% to $2.21 from $1.97 after excluding merger expenses, restructuring costs and IEEPA tariff refund effects.
RV OEM sales fell 17%: OEM segment net sales were $732.3 million, down 7%. RV OEM sales fell 17% to $389.9 million on lower North American travel trailer and fifth-wheel shipments.

Read the earnings call summary

Income statement (profit and loss)

$ million	Q3 FY2026	Q2 FY2026	Q3 FY2025	On the quarter	On the year
Revenue	992	969	1,036	+2.5%	-4.2%
Cost of revenue	729	668	784	+9.2%	-7.0%
Gross profit	264	301	253	-12.4%	+4.4%
Gross margin	26.6%	31.1%	24.4%
Selling, general and administrative	129	144	128	-10.1%	+1.4%
Operating income	75.0	96.0	75.4	-21.8%	-0.6%
Operating margin	7.6%	9.9%	7.3%
Pre-tax income	68.3	90.2	84.0	-24.3%	-18.7%
Income tax	18.2	23.1	21.5	-21.0%	-15.4%
Effective tax rate	26.7%	25.6%	25.6%
Net income	50.1	67.1	62.5	-25.4%	-19.9%
Net margin	5.0%	6.9%	6.0%
Diluted EPS	$2.05	$2.75	$2.55	-25.5%	-19.6%

$ million except per share.

Free 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. A quarter marked † is shown as the company last restated it in a later filing, so it compares with the quarters around it on one basis; rest on a figure for the one first filed. EPS is as filed.

Cash flow

$ million	Q3 FY2026	Q2 FY2026	Q3 FY2025	On the quarter	On the year
Operating cash flow	67.1	204	97.2	-67.1%	-31.0%
Capital expenditure	13.4	18.8	16.3	-28.3%	-17.5%
Free cash flow	53.6	185	80.9	-71.0%	-33.7%
Free cash flow margin	5.4%	19.1%	7.8%
Cash from investing	-7.4	-13.5	1.7
Cash from financing	-29.0	-121	-92.1
Depreciation and amortisation	28.9	30.9	30.5	-6.2%	-5.1%
Share-based compensation	4.7	7.0	5.9	-32.5%	-20.1%
Buybacks	0.0	0.0	62.2
Dividends paid	28.0	28.0	27.8	+0.0%	+0.5%
Dividend per share	$1.15	$1.15	$1.15	0.0%	0.0%
Diluted shares, weighted	24m	24m	24m	+0.1%	-0.2%
Shares outstanding at period end	24m	24m	24m	0.0%	+0.5%

Cash flow lines for the quarter; where the company files them year to date, the quarter is the difference between two filings.

Balance sheet

$ million	Q3 FY2026	Q2 FY2026	Q3 FY2025	On the quarter	On the year
Shareholders' equity	1,458	1,432	1,362	+1.8%	+7.1%
Debt	852	853	948	-0.0%	-10.1%
Operating lease liabilities	241	248	211	-2.9%	+14.1%
Other liabilities	649	735	648	-11.8%	+0.1%
Total liabilities and equity	3,200	3,268	3,169	-2.1%	+1.0%
Fixed assets	406	415	431	-2.2%	-5.8%
Goodwill	619	619	621	-0.0%	-0.3%
Intangible assets	360	373	410	-3.5%	-12.3%
Cash and equivalents	246	217	200	+13.4%	+23.0%
Receivables	385	383	364	+0.6%	+5.9%
Inventory	747	769	741	-2.9%	+0.7%
Other assets	438	493	402	-11.1%	+8.9%
Total assets	3,200	3,268	3,169	-2.1%	+1.0%

Questions

What was LCI Industries' revenue in Q3 FY2026?

LCI Industries (LCII) reported revenue of $992 million for Q3 FY2026, the quarter ended 30 September 2026, down 4.2% on the same quarter a year earlier.

How much did LCI Industries earn in Q3 FY2026?

Net income for Q3 FY2026 was $50 million, down 19.9% on the year, and diluted earnings per share $2.05.

When did LCI Industries report Q3 FY2026 results?

LCI Industries filed its 10-Q for the quarter ended 30 September 2026 with the SEC on 5 November 2026.

Quarterly results, the last 20 quarters

	Q4 FY2021 *	Q1 FY2022	Q2 FY2022	Q3 FY2022	Q4 FY2022 *	Q1 FY2023	Q2 FY2023	Q3 FY2023	Q4 FY2023 *	Q1 FY2024	Q2 FY2024	Q3 FY2024	Q4 FY2024 *	Q1 FY2025 †	Q2 FY2025 †	Q3 FY2025 †	Q4 FY2025 *	Q1 FY2026	Q2 FY2026	Q3 FY2026
Revenue	1,213	1,645	1,536	1,132	894	973	1,015	959	838	968	1,055	915	803	1,046	1,107	1,036	933	1,091	969	992
Cost of revenue	921	1,180	1,127	879	747	787	797	748	676	744	788	696	634	794	837	784	727	817	668	729
Gross profit	292	464	409	253	147	186	218	211	161	224	266	220	169	252	270	253	206	274	301	264
Gross margin	24%	28%	27%	22%	16%	19%	21%	22%	19%	23%	25%	24%	21%	24%	24%	24%	22%	25%	31%	27%
SG&A	178	195	190	165	170	166	163	165	158	166	176	166	153	121	128	128	119	123	144	129
Operating income	114	270	219	87.6	-23.0	20.0	55.2	45.6	2.6	57.6	90.6	53.9	16.1	81.3	87.8	75.4	35.4	95.2	96.0	75.0
Operating margin	9%	16%	14%	8%	-3%	2%	5%	5%	0%	6%	9%	6%	2%	8%	8%	7%	4%	9%	10%	8%
Pre-tax income	108	263	213	80.7	-31.3	9.6	44.9	35.3	-6.8	48.3	82.6	47.4	11.0	67.3	78.1	84.0	25.7	85.2	90.2	68.3
Tax rate	24%	26%	27%	24%	n/a	25%	26%	27%	n/a	24%	26%	25%	13%	27%	26%	26%	27%	26%	26%	27%
Net income	82.3	196	155	61.4	-17.1	7.3	33.4	25.9	-2.4	36.5	61.2	35.6	9.5	49.4	57.6	62.5	18.7	62.9	67.1	50.1
Net margin	7%	12%	10%	5%	-2%	1%	3%	3%	-0%	4%	6%	4%	1%	5%	5%	6%	2%	6%	7%	5%
Diluted EPS	$3.23	$7.71	$6.06	$2.40	-$0.68	$0.29	$1.31	$1.02	-$0.09	$1.44	$2.40	$1.39	$0.37	$1.94	$2.29	$2.55	$0.77	$2.53	$2.75	$2.05
Operating cash flow	-124	135	213	138	117	74.7	199	116	138	-7.7	193	78.4	107	42.7	112	97.2	78.9	-33.5	204	67.1
Capital expenditure	24.7	42.0	28.8	32.9	26.9	17.2	16.9	16.0	12.1	8.6	12.7	10.1	10.9	9.0	12.7	16.3	14.6	9.7	18.8	13.4
Free cash flow	-149	92.9	184	105	90.1	57.5	182	99.7	126	-16.3	180	68.3	95.7	33.7	99.5	80.9	64.3	-43.1	185	53.6
Buybacks	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	0.0	0.0	0.0	0.0	28.3	38.1	62.2	0.0	0.0	0.0	0.0
Dividends paid	22.7	22.9	26.7	26.7	26.5	26.6	26.6	26.6	26.6	26.7	26.7	26.7	29.3	29.4	29.0	27.8	27.8	27.9	28.0	28.0
Shares outstanding	25m	25m	25m	25m	25m	25m	25m	25m	25m	25m	25m	25m	25m	25m	25m	24m	24m	24m	24m	24m
Filing	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q

Each quarter as filed, linked to its filing.

* The fourth quarter is the full year less the first three quarters, because the company files the year and not the quarter on its own. A fourth quarter's EPS, and its diluted share count where shown, are from the company's results press release for that quarter, checked against the company's filed figures or a second data source. A quarter marked † is shown as the company last restated it in a later filing, so it compares with the quarters around it on one basis; rest on a figure for the one first filed. EPS 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 the share count are as they are. Free 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. Cash flow lines filed year to date are the difference between two filings. Shares outstanding are at the period end where the balance sheet tags them, otherwise the count on the filing's cover page. A derived fourth-quarter EPS is left blank when a split in the year makes the arithmetic meaningless.

10-Q for the period ended 30 September 2026, filed 5 November 2026: the filing.