Abstract

LCI Industries will release its quarterly results Pre-Market on February 18, 2026, with investors watching guidance, margins, and earnings trajectory alongside segment mix and forecast growth.

Market Forecast

Consensus points to LCI Industries delivering revenue of 898.67 million in the current quarter, with year-over-year growth of 10.40%; forecast adjusted EPS is 0.70, reflecting a year-over-year increase of 143.94%, and EBIT is estimated at 30.04 million with year-over-year growth of 50.69%. The revenue outlook implies a sequential step-down from the prior quarter’s volume, while earnings are guided to remain profitable with improved year-over-year comparisons given last year’s low base.

The main business remains anchored by two revenue streams that shaped last quarter’s result: RV Products and Aftermarket. The composition of revenue suggests the current quarter’s performance will continue to lean on RV Products for absolute dollar movement, while Aftermarket stability helps cushion fluctuations in volume and pricing.

The company’s most promising segment for incremental growth is the Aftermarket, which contributed 246.45 million last quarter; in this quarter, it is expected to post year-over-year gains alongside the group’s 10.40% revenue increase, reflecting supportive demand for parts and service across the installed base.

Last Quarter Review

LCI Industries reported revenue of 1.04 billion, a gross profit margin of 24.37%, GAAP net profit attributable to the parent company of 62.49 million, a net profit margin of 6.03%, and adjusted EPS of 2.55, which represented year-over-year growth of 83.45%.

A key highlight was the breadth of outperformance versus expectations: revenue beat by 72.73 million, EPS topped by 1.11, and EBIT exceeded estimates by 18.75 million, while net profit rose 8.43% quarter-on-quarter, signaling improving profitability into the seasonally stronger period.

Main business highlights were clear in the segment mix: RV Products generated 790.02 million (76.22% of total) and Aftermarket delivered 246.45 million (23.78% of total), against an overall revenue increase of 13.22% year-over-year, underscoring healthy demand across the portfolio and disciplined cost execution.

Current Quarter Outlook

Core Revenue and Margin Trajectory

The company’s forecast of 898.67 million in revenue implies a sequential decline from the prior quarter’s 1.04 billion, which aligns with typical seasonality and volume normalization after a stronger period. Against last year’s comparable quarter, however, the guidance calls for a 10.40% year-over-year increase, highlighting a recovery path built on improved throughput and pricing stability. The implied EBIT of 30.04 million represents a year-over-year rise of 50.69%, which should be consistent with better fixed-cost absorption and efficiencies on a healthier production run-rate compared with last year. Adjusted EPS of 0.70 translates to a 143.94% year-over-year increase, again reflecting last year’s lower earnings base, leverage from operating improvements, and a more balanced price/cost dynamic. The magnitude of the sequential step-down suggests margins will be sensitive to mix, overhead absorption, and input costs; delivering an in-line or modestly better margin profile could hinge on disciplined pricing, procurement gains, and factory productivity to offset any volume-related pressure. The net effect is that margin execution—rather than volume alone—will likely be the determinant of whether the quarter meets or exceeds investor expectations on profitability.

Aftermarket Momentum and Margin Mix

Within the revenue composition, the Aftermarket business remains a crucial stabilizer: at 246.45 million last quarter, it provided nearly a quarter of total sales and tends to carry favorable cash dynamics relative to original equipment shipments. In the current quarter, management’s revenue forecast suggests the Aftermarket contribution should continue to provide a consistent base, with year-over-year growth expected to move in tandem with the group’s 10.40% increase. Even if RV Products experience a sequential normalization, the Aftermarket can help anchor gross margin mix through steadier throughput and pricing tied to replacement and maintenance cycles. The business also can mitigate volatility when OEM demand fluctuates, and it often supports incremental margin capture through operational efficiencies and product breadth. For investors, the key is whether the Aftermarket’s contribution rises sufficiently to offset any margin headwinds from the OEM side; if pricing discipline and cost actions continue to hold, the Aftermarket’s predictable performance can be an important lever to sustain margin targets and earnings stability through near-term demand transitions.

Factors Most Impacting the Stock Price This Quarter

Earnings versus consensus and margin delivery are the primary catalysts for the stock across this print; with EPS guided to 0.70, a beat or miss will likely track gross margin execution and operating expense control rather than volume alone. The sequential revenue step-down from 1.04 billion to 898.67 million raises the importance of overhead absorption, pricing, and supply chain efficiencies to protect margin. Any commentary on cost trajectory—materials, logistics, labor—and the sustainability of procurement gains will be closely parsed for implications on the next two quarters. Investors will also watch how segment mix evolves: a balanced or rising Aftermarket contribution can help support margin resilience, while RV Products performance drives absolute revenue and EBIT dollars. Beyond the print, guidance cadence and visibility on order trends, production schedules, and internal efficiency initiatives will shape sentiment; credible signals that year-over-year improvements can persist despite near-term normalization often carry more weight than a single-quarter headline. Finally, capital allocation updates, including any commentary on balance sheet leverage or investment priorities, can influence the equity case when earnings are near consensus and valuation hinges on forward margin potential.

Analyst Opinions

Bullish opinions currently dominate, with recent coverage pointing to a constructive stance on the earnings trajectory and valuation. BMO Capital reaffirmed a Hold rating with a 150.00 price target, and Truist raised its price target to 147.00 while also maintaining Hold; meanwhile, aggregated views indicate an average rating skewing toward Overweight with a mean price target near 125.00, which tilts the balance of opinions to the bullish side despite conservative single-firm ratings. The positive skew rests on expected year-over-year EPS and EBIT growth in the upcoming quarter and the belief that margin execution and cost control can sustain profitability as volumes normalize. Institutions have emphasized the importance of balanced segment contributions and mix, implying that Aftermarket consistency, combined with disciplined pricing on the OEM side, should underpin a more supportive margin structure. The constructive view also reflects confidence in operational improvements observed in the prior quarter’s beat—where revenue, EPS, and EBIT all surpassed expectations—and a thesis that these improvements are not one-off but part of a broader process of cost alignment and execution. In their analysis, bullish commentators point to the company’s capacity to turn incremental efficiency gains into durable earnings power if procurement benefits and factory productivity remain intact. Expectations for the February 18, 2026 report thus center on confirming the year-over-year rebound in EPS and EBIT and providing credible signals that margin quality can withstand the sequential revenue step-down. If those conditions are met, analysts argue that valuation can absorb near-term fluctuations while tracking the company’s multi-quarter earnings normalization, with target prices reinforcing the view that forward margin potential is the key determinant of upside over the intermediate term.