Filing Flows › LCI Industries (LCII) › Q4 2025
LCI Industries (LCII) Q4 2025 earnings results (fourth quarter 2025)
10-K filed Feb 26, 2026
LCI Industries (LCII) reported revenue of $933M for the fourth quarter 2025 (Q4 2025), +16% from a year earlier and -10% from the quarter before. Operating margin was 3.8%, net earnings $18.7M (2.0% of revenue).
LCI Industries, Q4 2025: revenue $933M (+16% year over year), operating margin 3.8%, net earnings $18.7M, operating cash flow $78.9M. The chart follows the revenue to costs, profit and cash.
| Q4 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $933M | -10% | +16% |
| Gross profit | $206M | -18% | +22% |
| Operating profit | $35.4M | -53% | +119% |
| Net earnings | $18.7M | -70% | +96% |
| Operating cash flow | $78.9M | -19% | -26% |
| Free cash flow | $64.3M | -20% | -33% |
What changed
Revenue was $932.7M in Q4 2025, up 16% year over year and down 10% from the previous quarter. Travel Trailer and Fifth Wheels was the largest line at 41% of revenue.
Gross margin was 22.1%, up 1.0 points from a year earlier. Operating profit was $35.4M, a 3.8% margin (up 1.8 points year over year). Of the extra revenue versus a year earlier, 15% reached operating profit, above the 2% margin then. Operating expenses grew 11% against revenue growth of 16%. Net earnings were $18.7M, up 96% year over year. The effective tax rate was 27.2%.
Operating cash flow was $78.9M (down 26% year over year), 422% of net earnings. Non-cash charges added back $30.9M of depreciation and amortization and $5.8M of share-based compensation. Working capital and other items added $23.5M. Capital expenditures of $14.6M left free cash flow of $64.3M.
Questions
What was LCI Industries' revenue in the fourth quarter 2025?
LCI Industries (LCII) reported revenue of $933M for the fourth quarter 2025 (Q4 2025), +16% from a year earlier and -10% from the quarter before.
Was LCI Industries profitable in the fourth quarter 2025?
Operating profit was $35.4M (3.8% of revenue) and net earnings $18.7M.
Source: LCI Industries 10-K on SEC EDGAR.