LCI Industries reported an “historic” year with record annual sales in announcing 2020 earnings Tuesday.
President and CEO Jason Lippert credited the success to the company’s employees.
“This could not have been possible without the tremendous efforts of our team,” he said. “They successfully navigated an unprecedented economic environment to capture incredible industry demand, while also working to mitigate supply chain and labor constraints that have impacted the wider RV and marine space.”
Referencing the pandemic, Lippert said staff marched “right into the storm” and pivoted quickly when necessary to ensure the company’s success.
“This outperformance is a testament to the strong, cohesive culture which we continue to foster throughout our company, and I am thankful for each and every one of our teammates across the globe,” he said.
Lippert noted the company’s organic growth and diversification through Challenger Door and Veada Industries acquisitions.
“We believe that retail tailwinds, which supported our growth in 2020, will remain elevated well into 2021 and beyond,” he said. “Strong demand for recreational products continues, bolstered by expanded accessibility from popular services like peer-to-peer rentals and remote work and school, along with the significant reduction in air travel, all of which draw more consumers into the outdoor lifestyle.”
