Lippert’s overall sales and profits fell in the third quarter of 2022, the company reported, yet the RV supplier broke records again for the sales of towable content in each RV.
Lippert reported its content per towable RV for the 12 months ending Sept. 30, 2022, increased 55% from the previous 12 months to a record $5,853. The total is up 9% from the second quarter of 2022, when Lippert reported a then-record $5,382.
The company said the content increase primarily resulted from organic growth, including pricing and new product introductions, market share gains and acquisitions.
“The operational improvements we have implemented over the last several years have enabled us to nimbly balance capacity while maintaining our product quality,” President and CEO Jason Lippert said, “as wholesale RV production is expected to remain tempered in the near-term.”
Content per motorhome rose 39% to $3,806.
Lippert’s third-quarter sales fell 3% from the third quarter of 2021. The company’s profits also fell 3% from the third quarter of 2021 as the RV industry as a whole slowed.
“Our results continue to demonstrate the effectiveness of our diversification strategy, which has positioned Lippert to maintain strong performance during a downturn in RV demand,” Jason Lippert said. “Other key end markets, including marine, motorhomes, manufactured housing, power sports and the RV aftermarket, continued to perform well, helping our overall business more effectively than if it was solely concentrated in the RV market.”
Lippert said October 2022 net sales fell 24% from October 2021. The company said the decline demonstrated “positive trends … a testament to diversification efforts which are helping to offset the deceleration experienced in North American RV production.”
