US stock futures flounder amid tech weakness, Fed caution
LCI Industries (NYSE:LCII), a supplier of components for the recreational vehicle and adjacent industries with a market capitalization of $2.25 billion and an attractive 5.15% dividend yield, held its Annual Meeting of Stockholders on May 15, 2025. According to InvestingPro analysis, the company has maintained dividend payments for 11 consecutive years and currently trades below its Fair Value. During the meeting, stockholders voted on several key matters, including the election of directors, executive compensation, and the appointment of independent auditors for the upcoming fiscal year.
The company reported that 23,304,218 shares were represented at the meeting, out of the 25,236,482 shares outstanding as of the record date, March 21, 2025. Ten individuals were elected to LCI Industries’ Board of Directors, all of whom will serve until the next annual meeting. The company’s strong governance structure is complemented by solid financials, with InvestingPro data showing liquid assets exceeding short-term obligations and a healthy current ratio of 2.96x. The elected directors included Tracy D. Graham, Brendan J. Deely, James F. Gero, Virginia L. Henkels, Jason D. Lippert, Stephanie K. Mains, Linda K. Myers, Kieran M. O’Sullivan, John A. Sirpilla, and one additional unnamed member.
In a non-binding advisory vote, the compensation of the named executive officers was approved, albeit with a notable number of votes against the proposal, indicating some level of shareholder dissent. The breakdown of the vote was 11,034,668 for, 10,379,657 against, and 588,349 abstentions, with 1,301,544 broker non-votes.
Additionally, the selection of KPMG LLP as the independent auditors for the year ending December 31, 2025, was ratified by a significant majority. The vote count for this proposal was 23,061,915 for, 239,018 against, and 3,285 abstentions.
The meeting concluded with the formalities of signing the report by Lillian D. Etzkorn, the Chief Financial Officer of LCI Industries, confirming the company’s compliance with the requirements of the Securities Exchange Act of 1934.
This news is based on the latest 8-K filing by LCI Industries with the Securities and Exchange Commission, which outlines the results of the meeting and provides insight into the company’s governance and shareholder sentiment. With a P/E ratio of 14.55 and strong financial metrics, the company maintains a "Good" financial health score according to InvestingPro. Investors seeking deeper insights can access the comprehensive Pro Research Report, available exclusively to InvestingPro subscribers, which includes detailed analysis of LCI Industries’ financial position and growth prospects.
In other recent news, LCI Industries reported a strong financial performance for the first quarter of 2025, exceeding earnings expectations with an earnings per share (EPS) of $2.19 compared to the forecasted $1.59. The company achieved a revenue of $1 billion, marking an 8% increase year-over-year. Additionally, LCI Industries announced a $300 million stock buyback program to be executed over the next three years and declared a quarterly dividend of $1.15 per share. The company’s strategic acquisitions, including Freedom Seating and TransAir, have bolstered its position in the bus market. LCI Industries aims to reach $5 billion in organic revenue by 2027, with expectations for RV OEM sales to increase by 5% in the second quarter of 2025. The company continues to focus on mitigating potential tariff impacts and plans capital expenditures of $50-$70 million for 2025. Despite challenges in the marine market, LCI Industries remains optimistic about its growth prospects in the RV and bus markets.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.