ELKHART, Ind. – Running Sept. 23-25 in conjunction with the Elkhart RV Dealer Open House, the RV/MH Hall of Fame announced in a press release it will once again host the industry’s suppliers, offering an opportunity to exhibit products and services in front of the wholesale side of the industry.
This event has been dubbed as “The premiere supplier exhibition to show in front of dealers, manufacturers, and others.” For 2024, the Hall has once again expanded the show with the addition of a 36,000-square-foot Eastern Wing that has been designed with this event specifically in mind, according to the release.
Standard booth price for 2024 is $3,500 per indoor booth and $2,500 per outdoor booth, with specialty booths available upon request. When submitting a registration, Show Director and Hall of Fame President Darryl Searer will assist exhibitors in selecting a booth. Questions or requests for assistance in registering should be directed to Searer at 574-903-3850.
“If you have not registered, please secure your spot as soon as possible because booth space is going quickly,” the release stated.
A photo shows a section of the new space being utilized by the Comic Con Convention in March that hosted over 10,000 guests in a two day span. (Photo: MH/RV Hall of Fame)
NAPPANEE, Ind. – GEN-Y Hitch announced in a press release it has partnered with Mossy Oak to collaborate on a Bottomland Camouflage hydro dipped MEGA-DUTY hitch.
“These are the perfect hitch for the ultimate outdoorsman. Available in 10K, 16K or 21K towing capacities and between 5″ or 9″ of drop. Choose between a 2″ or a 2.5″ shank to find the best fit for your truck,” the release stated.
The GEN-Y MEGA-DUTY Drop Hitch is a fully adjustable hitch perfect for customers towing with multiple applications. The MEGA-DUTY Hitch is designed with safety in mind and can be utilized by boaters, off-roaders, and any serious outdoorsmen. Furthermore, this hitch can be used for other applications, including any bicycle rack, cargo rack, motorcycle carrier, etc.
“Partnering with Mossy Oak on this project has been a blast. Getting to see the iconic Bottomland camo on our product was an awesome feeling. When we started working together, I knew we had to create something totally unique. Once I saw and held the final product, I couldn’t believe how well it turned out! I’m excited to see these hitches out in the wild.” – Donna Schmucker, Marketing Director at GEN-Y Hitch
The Mossy Oak X GEN-Y Hitch Drop Hitches are available on GEN-Y Hitch’s website www.genyhitch.com.
REDMOND, Ore. – Expion360 Inc. (Nasdaq: XPON), an industry leader in lithium-ion battery power storage solutions, today announced a partnership with K-Z Recreational Vehicles, a subsidiary of THOR Industries Inc. This collaboration will integrate Expion360’s cutting-edge battery technology into K-Z RV’s premium offerings, enhancing the off-grid capabilities of their vehicles, according to a release.
K-Z RV’s Boondocker package, renowned for its exceptional off-grid features, will now include three Expion360 51.2V 60Ah Edge VHC heated batteries, with an option to expand to a fourth battery. The integration of Expion360’s advanced battery technology and the expert system integration is provided by Wellspring Solar. The system features full integration with Victron’s Cerbo GX for real-time communication with Expion360’s battery management system (“BMS”).
These batteries will be available in the Durango and Durango Gold fifth-wheel models.
“We are thrilled to partner with K-Z Recreational Vehicles, a respected name in the RV industry and a part of THOR Industries, Inc.,” said Brian Schaffner, CEO of Expion360. “This collaboration allows us to bring our cutting-edge lithium battery technology to a broader audience, providing K-Z RV customers with reliable and efficient power solutions for their outdoor adventures.”
In addition to the Boondocker package, K-Z RV will offer two of Expion360’s new Group 27 100Ah VHC Heated batteries as an option to their standard Off the Grid solar package. This upgrade will be available across the Durango, Durango Gold, and Durango Half-Ton models.
Brent Froman, general manager at K-Z RV, commented, “At K-Z RV, we are committed to offering our customers the best in RV technology and innovation. By partnering with Expion360, we can provide advanced lithium battery options that enhance the off-grid experience. We are excited to offer these high-quality power solutions in our Durango and Durango Gold models, as well as in the Durango Half-Ton.”
About K-Z Recreational Vehicles
K-Z Recreational Vehicles, a subsidiary of THOR Industries, Inc., is dedicated to designing and manufacturing RVs that promote the enjoyment of the great outdoors. Founded in 1972 and headquartered in Shipshewana, Indiana, K-Z RV is renowned for its commitment to quality, fairness, courtesy, and integrity. The company produces several popular brands of towable recreational vehicles, including Connect, Durango, Escape, Sportsmen, Sportster, Venom, and the Venture RV line, which includes Sonic, Stratus, and SportTrek.
K-Z RV operates a state-of-the-art production facility covering 530,000 square feet, with over 600 employees and 12 product lines offering more than 150 floorplans. The company prides itself on being one of the most innovative RV manufacturers in North America, continually leading the industry with new and inventive products. For more information, please visit K-Z RV.
About Wellspring Solar
Wellspring Solar, an industry leader in off-grid solar and battery solutions, has been a pivotal partner in the integration of complex energy systems for recreational and residential applications since 1995. Their expertise in system design and implementation ensures optimal performance and reliability.
Expion360 is an industry leader in premium lithium iron phosphate (LiFePO4) batteries and accessories for recreational vehicles and marine applications, with residential and industrial applications under development. On December 19, 2023, the Company announced its entrance into the home energy storage market with the introduction of two premium LiFePO4 battery storage systems that enable residential and small business customers to create their own stable micro-energy grid and lessen the impact of increasing power fluctuations and outages. Please find the press release here.
The company’s lithium-ion batteries feature half the weight of standard lead-acid batteries while delivering three times the power and ten times the number of charging cycles. Expion360 batteries also feature better construction and reliability compared to other lithium-ion batteries on the market due to their superior design and quality materials. Specially reinforced, fiberglass-infused, premium ABS and solid mechanical connections help provide top performance and safety. With Expion360 batteries, adventurers can enjoy the most beautiful and remote places on Earth even longer.
The company is headquartered in Redmond, Ore. Expion360 lithium-ion batteries are available today through more than 300 dealers, wholesalers, private-label customers, and OEMs across the country. To learn more about the company, visit expion360.com.
The RV Industry Association’s (RVIA) Regulatory & Safety Compliance Seminar, which took place on July 30 in Elkhart, Ind., was another successful educational opportunity for the industry with 106 members in attendance from over 20 different manufacturers and 20 different supplier companies, according to an RVIA News & Insights report.
The keynote presentation was given by David Mihalick, the vice president of Vehicle Safety & Regulatory Compliance at THOR Industries and chair of RVIA’s Standards Steering Committee. The presentation, titled Let’s Talk Compliance, covered how RV manufacturers must be aware of RVIA’s adopted standards, such as National Fire Protection Association 1192, in addition to NHTSA’s Federal Motor Vehicle Safety Standards.
“The management and oversight of the standards in our industry is one of the three main pillars of the RV Industry Association which keeps our industry self-regulated,” said Mihalick. “I feel a lot of pride in participating and attending the annual regulatory seminar which is one of the main educational opportunities for standards and regulations. The seminar has come a long way from the very first seminar held in 2016. It is really exciting to see the participation and the level of questions being asked by the participants. Overall, I think it was a great morning for the industry.”
Mike Becker
Mike Becker, head of Compliance at Forest River and Chair of the RVIA’s Regulatory & Safety Compliance Subcommittee, was the emcee of the event and moderator of two panels. Following the keynote presentation, there were panels consisting of industry compliance veterans, which had great audience engagement during the Q&A portions. The panelists discussed building a regulatory and safety compliance program, optimizing data analytics, compliance documentation, and more.
“This was a value-added event with some amazing contributors on a very important topic that I believe everyone, big and small, can take away a tremendous amount of value and direction,” added Curtis Carlson, vice president of Dealer Services at Alliance RV, who was also one of the seminar’s panelists this year.
RVIA would like to thank seminar sponsors Forest River Inc., THOR Industries, Winnebago Industries, Lippert, Dometic, Dexter, and TRA Certification. Thanks to their generous support, this event was free for RVIA members.
If you are interested in becoming a sponsor or have general questions about next year’s Regulatory and Safety Compliance Seminar, please contact Kyle Correa-Brady at [email protected].
ELKHART, Ind – LCI Industries (NYSE: LCII) which, through its wholly-owned subsidiary, Lippert Components Inc., supplies a broad array of components for OEMs in the recreation and transportation markets, and the related aftermarkets of those industries, today reported second quarter 2024 results.
Second Quarter 2024 Highlights
Net sales of $1.1 billion in the second quarter, up 4% year-over-year
Net income of $61 million, or $2.40 per diluted share, in the second quarter, up from $33 million, or $1.31 per diluted share, in the second quarter of 2023
EBITDA of $123 million in the second quarter, up 39% year-over-year
Operating profit margin of 8.6% in the second quarter, up from 5.4% in the second quarter of 2023
Inventory reduction of $142 million from the second quarter of 2023
Quarterly dividend of $1.05 per share paid, totaling $27 million in the second quarter
Cash flows provided by operations of $439 million for the LTM period ended June 30, 2024
Improved liquidity position with $130 million of cash and cash equivalents and $373 million of availability on revolving credit facility at June 30, 2024, up sequentially from $23 million of cash and cash equivalents and $154 million of availability at March 31, 2024
“We delivered strong second quarter results, with revenue growth in towable RV OEM, Aftermarket, and certain Adjacent OEM businesses while achieving over 300 basis points of operating profit margin expansion compared to the second quarter of 2023,” commented Jason Lippert, LCI Industries’ President and Chief Executive Officer. “Our strategy has been working. Diversification continues to help mitigate market cyclicality and support margins, while innovation is fueling content growth. Continued expansion into new product markets is also broadening our reach, which has opened up over $12 billion in combined addressable opportunities across our business. As a result, we continue to deliver strong results in a challenging backdrop and are well-placed to benefit meaningfully when the RV market rebounds and retail demand improves.”
“We are generating substantial cash flows through disciplined working capital management, having notably reduced inventories by $142 million in the past year, as well as by taking action to optimize and enhance our manufacturing footprint. Efforts to increase efficiencies, driving operational effectiveness through continuous improvements, are also helping to lift profitability. As our results reinforce our financial foundation, we plan to continue paying down debt and investing in growth opportunities for our business,” continued Mr. Lippert. “Heading further into the year, we will keep executing our strategy and drive sustained value creation for our stakeholders.”
“Thanks to the hard work and dedication of our team members, we showed solid performance in the second quarter while navigating a challenging environment. Through a consistent focus on our key strategic pillars, including customer service, safety, quality, culture and leadership, and innovation, we are delivering profitable growth while solidifying our leading position across the recreation space,” commented Ryan Smith, LCI Industries’ Group President – North America.
Second Quarter 2024 Results
Consolidated net sales for the second quarter of 2024 were $1.1 billion, an increase of 4% from 2023 second quarter net sales of $1.0 billion. Net income in the second quarter of 2024 was $61.2 million, or $2.40 per diluted share, compared to $33.4 million, or $1.31 per diluted share, in the second quarter of 2023. EBITDA in the second quarter of 2024 was $122.6 million, compared to EBITDA of $88.2 million in the second quarter of 2023. Additional information regarding EBITDA, as well as reconciliations of this non-GAAP financial measure to the most directly comparable GAAP financial measure of net income, is provided in the “Supplementary Information – Reconciliation of Non-GAAP Measures” section below.
The increase in year-over-year net sales for the second quarter of 2024 was primarily driven by increased North American RV wholesale shipments of travel trailers and fifth-wheels and market share gains in the automotive aftermarket, partially offset by lower North American marine sales volume.
July 2024 Results
July 2024 consolidated net sales were approximately $311 million, up 6% from July 2023, primarily due to an approximate 15% increase in North American RV production, partially offset by an approximate 16% decline in marine sales compared to July 2023.
OEM Segment – Second Quarter Performance
OEM net sales for the second quarter of 2024 were $796.1 million, an increase of $37.1 million compared to the same period of 2023. RV OEM net sales for the second quarter of 2024 were $490.0 million, up 20% compared to the same prior year period, driven by a 15% increase in North American travel trailer and fifth-wheel wholesale shipments, increased selling prices which are indexed to select commodities, and market share gains. Adjacent Industries OEM net sales for the second quarter of 2024 were $306.2 million, down 12% year-over-year, primarily due to lower sales to North American marine and utility trailers OEMs, driven by current dealer inventory levels, inflation, and rising interest rates impacting retail consumers. North American marine OEM net sales in the second quarter of 2024 were $64.2 million, down 33% year-over-year.
Operating profit of the OEM Segment was $50.6 million in the second quarter of 2024, or 6.4% of net sales, compared to $18.6 million, or 2.5% of net sales, in the same period in 2023. The operating profit expansion of the OEM Segment for the quarter was primarily driven by decreased material and freight costs.
Aftermarket Segment – Second Quarter Performance
Aftermarket net sales for the second quarter of 2024 were $258.4 million, up 1% year-over-year, primarily driven by market share gains in the automotive aftermarket, partially offset by lower volumes within marine and RV aftermarkets, which have been negatively impacted by lower consumers’ discretionary spending. Operating profit of the Aftermarket Segment was $40.0 million in the second quarter of 2024, or 15.5% of net sales, compared to $36.5 million, or 14.3% of net sales, in the same period in 2023. The operating profit expansion of the Aftermarket Segment for the quarter was primarily driven by decreased material and freight costs, partially offset by increased labor costs and investments to expand capacity within the automotive aftermarket.
“Our Aftermarket business remains healthy, as we delivered another quarter of solid margin expansion, continuing to support overall profitability for Lippert. Strength in the automotive aftermarket was a primary driver during the quarter, along with the structural tailwind from the record number of RVs entering the repair, replacement, and upgrade cycle,” commented Jamie Schnur, LCI Industries’ Group President – Aftermarket. “We look forward to continue delivering long-term, profitable growth as we leverage our core competencies and seek to gain share in premium markets like appliances, transportation, and building products.”
Income Taxes
The Company’s effective tax rate was 26.0% for the quarter ended June 30, 2024, compared to 25.6% for the quarter ended June 30, 2023. The increase in the effective tax rate was primarily due to a discrete tax expense related to the surrender of certain company-owned life insurance policies.
Balance Sheet and Other Items
At June 30, 2024, the Company’s cash and cash equivalents balance was $130.4 million, compared to $66.2 million at December 31, 2023. The Company used $53.5 million for dividend payments to shareholders, $21.3 million for capital expenditures, and $20.0 million for an acquisition in the six months ended June 30, 2024.
The Company remained focused on inventory reductions to improve cash generation and optimize working capital in the second quarter. As of June 30, 2024, the Company’s net inventory balance was $687.9 million, down from $768.4 million at December 31, 2023 and $830.0 million at June 30, 2023.
The Company’s outstanding long-term indebtedness, including current maturities, was $829.7 million at June 30, 2024, and the Company was in compliance with its debt covenants. As of June 30, 2024, the Company had $130.4 million of cash and cash equivalents, and the Company had $373.1 million of borrowing availability under the revolving credit facility.
Conference Call & Webcast
LCI Industries will host a conference call to discuss its second quarter results on Tuesday, August 6, 2024, at 8:30 a.m. Eastern time, which may be accessed by dialing (833) 470-1428 for participants in the U.S. and (929) 526-1599 for participants outside the U.S. using the required conference ID 439054. Due to the high volume of companies reporting earnings at this time, please be prepared for hold times of up to 15 minutes when dialing in to the call. In addition, an online, real-time webcast, as well as a supplemental earnings presentation, can be accessed on the Company’s website, www.investors.lci1.com .
A replay of the conference call will be available for two weeks by dialing (866) 813-9403 for participants in the U.S. and (44) 204-525-0658 for participants outside the U.S. and referencing access code 716397. A replay of the webcast will be available on the Company’s website immediately following the conclusion of the call.
EDITOR’S NOTE: The following is the latest list of RV recalls compiled by the National Highway Traffic Safety Administration (NHTSA). Per strict NHTSA protocols, manufacturers will next notify its dealer partners of the recall notice. Each notice will include details of the affected vehicles as well as the appropriate remedy.
Forest River Inc. is recalling 63 certain 2025 Cherokee CKT20-0G travel trailers. During installation, an incorrect length screw was used to install the microwave, which allowed the screw to enter the microwave compartment. Dealers will inspect and replace the microwave as necessary, free of charge. Owner notification letters are expected to be mailed Sept. 4. Owners may contact Forest River customer service at 1-260-499-2100. Forest River’s number for this recall is 89-1819.
Tiffin Motorhomes Inc. is recalling 393 certain 2022-2023 Phaeton, Allegro Bus, and Zephyr motorhomes. The PowerGlide chassis controller may have insufficient circuit protection, which can result in a blown fuse and cause an engine shutdown. Dealers will install circuit protection, free of charge. Owner notification letters are expected to be mailed Sept. 27. Owners may contact Tiffin customer service at 1-256-356-8661. Tiffin’s number for this recall is TIF-141.
Jayco Inc. is recalling seven certain 2025 Entegra Cornerstone motorhomes. The chassis batteries could have inadequate overcurrent fuse protection. Dealers will install a 150-amp manual reset breaker, free of charge. Owner notification letters are expected to be mailed Aug. 30. Owners may contact Jayco customer service at 1-800-283-8267. Jayco’s number for this recall is 9903610.
From Alliance RV: Discover how Alliance RVs are made and join us in creating memories that last a lifetime. Or just escape the craziness! Watch as we try to fly a drone from concept to production to enjoying the great outdoor!
The cherished wife of Andy Pais for 21 years; devoted mother to Patrick Thomas Koch and Emory Andrew Pais; beloved daughter of Thomas R. and Constance Koch (nee Brunnert); dear sister of Laurie Bauer (Adam); cherished daughter in law of Jerome and Cynthia Pais; dear sister in law of Melanie Anderson (Jeromy); loving aunt of Tommy Bauer and Collin Bauer, Kayden Anderson, Connor Anderson and Kendall Anderson.
Jaime worked at Protective for just under 20 years. She had a passion for the work that she did but truly enjoyed the relationships with those she worked with at her home office, corporate office, and throughout the industry. Jaime’s final position with the company was Senior Director of Product Development but always aspired for the next level of responsibility or next challenge in her career while also trying to uplift those around her.
WASHINGTON, D.C. – Aug 4 marked the fourth anniversary of the passage of the Great American Outdoors Act (GAOA), a landmark law that the outdoor recreation industry was instrumental in passing and that has had a profound impact on the outdoor recreation industry and our nation’s economy, according to a release from the Outdoor Recreation Roundtable (ORR).
The Great American Outdoors Act represents the most significant investment in outdoor recreation and conservation in decades and has played a critical role in supporting the $1.1 trillion economic powerhouse that is the outdoor recreation industry. The law has funded critical outdoor recreation infrastructure and conservation projects across the country funding the Land and Water Conservation Fund (LWCF) with at least $900 million annually and helping to solve for the growing maintenance backlog across our nation’s recreation assets.
Jessica Wahl Turner
“ORR was instrumental in the passage of GAOA, which received broad bipartisan support, when it was needed most, during an international pandemic when the outdoors faced unprecedented visitation,” said ORR President Jessica Wahl Turner. “Today, we celebrate how this landmark legislation has not only revitalized our parks, forests, trails, campgrounds, lakes, and rivers but has also bolstered the economic vitality of countless communities nationwide.
“GAOA’s success is evident in the myriad projects it has spurred funding for, ensuring that our natural treasures are preserved and accessible for future generations. It has also bolstered our outdoor recreation amenities — improving recreational boating infrastructure, creating parks and open spaces, rehabilitating campgrounds and much, much more. It is an understatement to say that GAOA has made significant strides in enhancing outdoor experiences for all Americans.
“As we celebrate this anniversary, we also look to the future with optimism. The GAOA has paved the way for new legislation, such as the Expanding Public Lands Outdoor Recreation Experiences (EXPLORE) Act, the first-ever recreation-specific legislative package, which is currently making its way through Congress. This new legislation aims to build on GAOA’s foundation, further expanding opportunities for outdoor recreation and ensuring continued support for the industry, all without any additional costs to taxpayers. Given the ongoing deferred maintenance and repair challenges our national parks, forests, wildlife refuges and other public lands continue to face, it is critical that Congress continues to invest in outdoor recreation infrastructure, including reauthorizing the GAOA Legacy Restoration Fund, and protect against any efforts to undermine LWCF.
“We are grateful for the collaboration with federal agencies, lawmakers, industry partners, and our members who have worked tirelessly to prioritize and implement the GAOA and the projects it has helped to fund. The continued investment in our outdoor infrastructure and conservation efforts is essential for the health, well-being, and prosperity of our nation and we look forward to building on the successes of GAOA and ensuring that the benefits of our public lands are enjoyed by all.”
About ORR
The Outdoor Recreation Roundtable is the nation’s leading coalition of outdoor recreation associations representing the more than 110,000 outdoor businesses in the recreation economy and the full spectrum of outdoor-related activities. The most recent data from the U.S. Department of Commerce shows that outdoor recreation generated $1.1 trillion and 5 million American jobs in 2022, comprising 2.2% of the nation’s economy and 3.2% of all employees in the country.
FAIRFAX, Va. – Dealership professionals interested in de-escalating tense situations and keeping a peaceful work environment may be interested in two education workshops and a half-day course presented by Sara Jeckovich, peacebuilder consultant of Pollack Peacebuilding Systems presented during the 2024 RV Dealers Convention/Expo.
Sara Jeckovich
At 1:15 p.m. Nov. 12 and repeated at 8 a.m. Nov. 14, Jeckovich will cover “Peaceful Leaders & Retaining Employees” as part of the fixed operations education track.
Learning objectives:
How to recognize and reduce ‘quiet quitting’
Techniques to help your team members feel seen, heard, and valued
What does it mean to be a Peaceful Leader and how does this help retain top employees?
Jeckovich will introduce an innovative approach to leadership, which emphasizes fostering productive and cohesive teams. The Peaceful Leadership model is built around recognizing that if leaders want to retain employees, it’s important for everyone to feel appreciated, included, encouraged, and safe.
Then, at 11:30 a.m. Nov. 14, Jeckovich will lead the two-hour super session “De-Escalation Interactive Workshop: A Deep Dive” in the fixed operations education track.
Learning objectives for this super session include:
A communication framework for conflict resolution to minimize escalation and risk
How to self-regulate and respond with empathy in stressful situations
Increase awareness of escalation and identify the underlying root cause
Establish positive communication with customers/clients/vendors
Important de-escalation skills that can help deal with stressful situations or a crisis
For an additional fee, attendees can join Jeckovich at 8 a.m. Nov. 12 as she presents the half-day leadership development course “Giving Feedback” – sponsored by Gulf Stream Coach. Attendance is limited to 50 participants.
Good feedback builds trust, improves performance, and promotes a more peaceful and productive workplace.
Learning objectives for this session:
Set clear expectations and hold people accountable peacefully
How to initiate and effectively lead a difficult conversation
How to peacefully give feedback on challenging ideas
How to give effective feedback on troubling behavior or language
Increase rapport and collaboration across people and departments
About the RV Dealers Convention/Expo
The convention allows North America’s top dealership personnel to forge valuable connections with peers, industry leaders, and potential business partners in the Expo. Dealership professionals can expand their network and gain insights from the best in the RV industry.
The dealer-organized RVDA Convention will provide an in-depth look into the current sales landscape. Attendees will have access to valuable resources to optimize all departments within a dealership, including fixed operations.
To register for the 2024 RV Dealers Convention/Expo and to watch workshop video previews click here. The half-day course may be added during event registration. Regular updates will be posted on the convention website, Facebook, Instagram, LinkedIn, and X.
The event is sponsored by RVDA of the U.S., RVDA of Canada, and the Mike Molino RV Learning Center.
Watch as we try to fly a drone from concept to production to enjoying the great outdoor!
