first Thanks, quarter everyone, to and call. Lillian. Good welcome XXXX morning, LCI's earnings
excellent with want combined I to deep as to Lippert the industrial of our our growth. moment manufacturing Before Lippert addition I next to acumen, on to delivering and begin, makes team Her as Officer. new a take welcome an her financial chapter Lillian we Chief focus expertise Financial
drive years and together her to forward excited family, our to to forward to have are business We for look come. our working join
growth American RV first in and RV results. results prior in from diversification OEM a sequential to our turn quarter. a compared able delivered revenues margin Through record discipline to the XX% off considering profitability year, year through down of and We focus we robust production we've solid innovation, business. XXXX up our the flexibility, expansion. With that with to support quarter, challenging started execution manage we prior the content record but operational the in company-wide delivering Coming results, are commitment $XX let's on million first to North and and our in quarter declines navigating environment, said, to been million on $XXX
XXXX first Net the quarter. sales completed contributed from in acquisitions XXXX $XX.X in approximately million and
Our International, better XX% performing Aftermarket, combined other then adjacent businesses RV, in quarter. and revenues made up overall Marine, are much the a and of
from products will long-term. never automotive, As outperformance I've confident Lippert to am moving almost growth profitable and only diversified path including execution keep on a variety I on the Marine, us this downcycle, wide strategy before, noted building RV transportation. and has mass the content consistent in manufacturing over continued markets, Aftermarket, of for International, been that more of
the seeing improvements of also team. our under the leadership years are benefits of the guidance implemented our We throughout recent operations in seasoned
past making XX overall the industry As costs our totaling declined, manufacturing months. to been adjust to reductions align able RV has to million $XXX structure, capacity also while cost we've production meaningful quickly in
during by through management, capital strengthening enhancing quarter our $XXX Additionally, reduced solid working position. overall our inventories significantly we financial million, generation and cash the
to XX% compared the of largely earlier. first OEM, XXXX, to shipments during decreased RV into quarter due mentioned Moving sales XXXX wholesale decreased
on the and XX% to bring retail rental to consumer pre-pandemic outdoor winter Despite North an to similar As this point RVIA trip demand has consumers adjust near-term trends moderating a and keeping levels. better growth inventories XXXX retail align XX Americans production to schedules And new RVs continue early by such Gen declines, demographic underscored expected, OEMs the appropriate planning Secular the continuing as are healthy based buyers growing demand year, younger spring lifestyle, Z interest. million at RV peer-to-peer data. with and to and increase indicators dealer to of over levels. retail from remained
quality for reputation and strong continued help has drive innovation of expansion. Our market to content culture share us and capture
total year, content increased to XX% per During the prior the from $X,XXX. RV quarter,
Our the to quarter prior motor increased for year per RV XX% content the home from $X,XXX.
As we demand suspensions, consumer ABS sophisticated and products chasses, like capture refrigerators, windows. air-conditioners, for pop-tops,
With run the about generation on gains successful seeing rates. mid-'XX, upcoming models the based changeover we of model in are current million next RV in $XXX content already of
to largest in way entire Lippert great These the go and the lineup. axles kicked manufacturers to the over point add the our supplying strengthen brand In with long the with give long-term. we more first builder trailer country, partnership for content premiere a quarter, off types utility a entry the help ATW, trailer partnerships even of us
newest axle in XXX,XXX new South. quarter, to about feet, in this last consisting square opened support the Our of Texas, facility partnership
created primarily acquisitions Moving to and The the and aftermarket. awnings, people Way. massive as recent growth, for spend XX% automotive products Furrion, the need our mattresses, increased we Aftermarket, sales revenues in RVs, Girard, to have suspensions, air-conditioners, decreased year-over-year, of due like opportunities as upgrade see illustrating their lower particularly like value appliances for
categories, replacement one next in growth to expect repair their X the approximately particularly We appliances, enter three RVs of our cycles. the to newer five and years, being million product support as
impact billion, believe helping was better addressable market Aftermarket $X.X to Bronco, billion in and year content. bar worked by a the and replacement the growth we've specifically extent and automotive highlighted ForeFront close XXX,XXX bull recent the Further, to SUV RVs each our iconic business the the business. originally Lippert what for to the grille is aftermarket a that also production position now decade expand to of guard market and ago, RV the model. when of $X never capture offerings, RV our we've We dips. cycle Ford Aftermarket of an been adding approximate designed add entering The continues to share to trajectory help content repair support, that out introduction countercyclical to a build offset
entire expansion the first experience to for to their very customer the with first-class year mission quarter, of repairs deliver as XXXX, showing the the demand Aftermarket. on top In took Lippert of cases, vehicles. and upgrades consumers calls customer XXX,XXX Our support and communications, a for X.X impactful approximately make of has become incredible million on
With opportunity have offerings, customers as well season provide services. for to interact the right summer portfolio support feedback teams large the as innovative Lippert collect significant to with the our around products in-person and of corner, and critical enhancing to our
met who few engage a for back with to the keep return and campers out are a on but and this us to Lippert coming people Lippert the attended road. not on only enthusiasts have relationships to helping RVers brand, there business, We while advocating investment Finding our RV great creatively to us real earlier ways led representatives country. around from rallies build are trust the quarter, they and with also for
and largely Turning down softness housing to the North by in revenues quarter Adjacent the slightly, driven markets. American some were Markets, trailer first
years. We over did declines production are to in what the of should the and see in RV softness it's Marine steadier, we're like some but has subdued starting rapidly seeing note fact be Marine, past in than that been just now production more due not near-term that RV couple Marine increase far the important to to
and performance, was in other to shut Marine our RV particularly production when been January, critical overall totally adjacent down. Our providing markets almost support have
also to season. of markets, Transit a programs to head summer we see and Marine and the school year. starting We're develop this buses markets into Customer our boating are as part stability continuing adjacent are those big also Experience our
Our Captain's Group now boasts members. X,XXX over
expand as continue passion we drive experience customer Our our product our with on execute should our combined this to diversification innovation for segment focus offerings and on strategies.
one fastest market highlighting an have like be chassis, the the demand. replenish for to U.S., first sophisticated are to compared in Lippert's continued design International and space. parts, gained markets, B-van inventories starting XXXX, to customers. constraints innovation nearly of Pop-top to markets in almost another to finally quarter now critical Our content traction meet European was customers that to beginning meaningful of pent supply once ability should products, exclusively incubator, flat and has European as North business American up chain our positive International RV with the but business growing note, and XXXX products units On with known were ease. the popular the receiving RV add be to
to window addition our to our European using keep starting in performance XXXX. yet these businesses becoming heading of are lineup. great types global to into another well, our issues as gain products And content avenue RVs growth a our expect We'll with supply popularity In leveraging introductions pop-tops, revenue footprint. and acrylic we further product across winding generate impact to positive to provide our International down,
of unparalleled that than Consumer content. now products our highlights. will attracted focus in our R&D to choice ever, industry. driving on with the we've is their focus outdoor evolution on is increased lifestyle our generations innovation to believe innovative younger on I'll the our our match We innovation more interests. building And and move capabilities
Our window well share like helped have long-term systems, suspension, strengthen new technology competitive [indiscernible], slide-outs, expansion. OneControl offerings pop-tops, advantage and leveling as ABS management as systems new awnings, tire systems, drive and to new pressure new camera our market
these of have we runway Many believe just great the and with a these products we developed products newly mentioned very market have over share, long-term.
RV ABS things and market. RV work Last utility Lippert's have tech products XX% system, we of and at market. electrification a in we for unit the and believe towables our the launched in partnership a best year, make now we We're ABS, towards our addition, with to sure seat rate around product well-received at breaks the trailer which are has all components that of been history. run axle around In continuing the we to which introductions most one represents electrification XX-year XX,XXX table of
is next becomes are the we our technology all products on and focus that increase very know consumers over that have that differentiator technology the at break RVs. we here Based safety we've expect ABS Many to very laser feedback continue critical we've Lippert, as standard main that you received, culture more five significantly market on a developed years, safety. for we of to industry share the to interested like our have this believe equipment our And success. in a our on found
their leaders we own top, strong leaders they work experience and to opportunities in in previous our we so the team a quarters, have who become stated As at can believe starts right. culture caring the that for members create with
Our And the of leadership said leader team quality, great is of are development to directly emphasis we retention. the over Club of generation annual as hosted directly all team than were X,XXX and more Indiana, business. enabled well as in Boys Northern believe, has leaders members become Joe schools. members to and XXX,XXX safety, organizations drivers Girls our the success outcome impacts in and We key & In increases to retention at of efficiency, items the as local St. counties, which first on innovation, Lippert. of that higher event any donated in-house before, packed I LCI up, quarter, Pack-Out and next correlated other showed Elkhart
It impact in was an how another force to teams our the for work. live communities good, utilizing demonstrate make and yet can opportunity be we to business a where
platform purpose-driven ill volunteering that Additionally, each connect we With seRV communities to our opportunities the non-profit create Purpose other we serving believe to change RVers through to and forever where launched camp. meaningful organizations
closer serving taking six we everywhere currently RV the to who U.S., our that loving we opportunities are in rest in cannot back these are to and serving Overall, forward community community the prouder while connect give need. having RVers camping. to more those across has in to the ultimately help SeRV impact look the bringing goals accomplishments initiative to help travel team's our Ambassador We Lippert XXXX. families fact advance initiative they of cultural full-time them efforts be global are our of together.
Moving sheet now modest management are to with our generation capital fortifying focused and to on maintain allocation, through cash amply we liquidity diligent balance leverage.
balanced deployment and business. should and the pay strategy time, drive profitability debt, our investing down a to enhancements same executing operational innovation efficiency, in continuing are and that throughout We at quality,
business. are still keeping and growth receptive focused a investments strong in opportunities, balance but to our strategic making We are M&A on sheet
small quarter that in first expand Texas we us XXXX, the purchased after capacity helped that manufacturing of a In in market.
to $X spend allocated the our down investment And also We on of to additional in through growth spending will still dollars expect year. targeted and 'XX, high million remainder CapEx. some automation be we return
to reiterate I believe deliver good is the over would term. a position to closing, we results like long strong that In in Lippert
as are quickly and to to operational strategy, path diversification leadership our operations deliver us on foundation, Our mobility our value puts in cultural we focus, ability space in. and that flex markets to customers outdoor for recreation further diversified long-term the and a and our shareholders,
I look progress quarter, hard to their delivering our XXXX. would incredible like to thank forward all we teams throughout this further of for and work
work to course Hall Finally, that he of business Lippert; at Brian, the have thank our for Brian thank his I would best hard for the dedication all has tenure done and like for you over teams. and of you shown and our luck,
Etzkorn, to I Lillian on financial detail turn our CFO, will give now results. to Lillian? more
