Welcome to our dedicated page for Lazydays Holdings news (Ticker: LAZY), a resource for investors and traders seeking the latest updates and insights on Lazydays Holdings stock.
Lazydays, symbol LAZY, is a renowned leader in the recreational vehicle (RV) industry. Founded in 1976, Lazydays has grown to become the world’s largest RV dealership with prominent locations in Tampa, FL, and Tucson, AZ. As America’s RV destination, Lazydays provides a comprehensive range of RV services, offering an unmatched selection of RV brands such as Airstream, Fleetwood RV, Winnebago, and many others. With over 1,700 RVs available, Lazydays caters to every budget and preference.
Lazydays is committed to delivering an exceptional customer experience, as evidenced by the nearly one million RV enthusiasts who visit annually. The company prides itself on providing outstanding service and expertise, ensuring that both seasoned RVers and newcomers can maximize their RV lifestyle.
In recent financial updates, Lazydays reported a revenue decline to $280.7 million in Q3 2023, a net loss of $5.6 million, and an adjusted net loss of $2.9 million. Despite these challenges, Lazydays continues to expand, acquiring Buddy Gregg Motorhomes, Century RV, and RVzz, and opening new locations in Wilmington, Ohio, Fort Pierce, FL, and Surprise, AZ. This strategic approach to growth is expected to add significant revenue in the coming years.
With a robust selection of RV brands, state-of-the-art service facilities, and a dedication to customer satisfaction, Lazydays remains a pivotal player in the RV market. The company’s financial strategies, including a $35 million mortgage loan facility, position it well for future growth and stability. With a recent rebranding initiative, Lazydays is set to enhance its digital retail experience and solidify its standing as the go-to destination for RV enthusiasts.
Lazydays Holdings, Inc. (Nasdaq: LAZY) announced a public offering of 4,000,000 shares of common stock, with an option for underwriters to purchase an additional 600,000 shares. The proceeds will be used to repay debt and for general corporate purposes, including acquisitions and capital investments. Baird is the lead manager for the offering, which is made under an effective shelf registration statement. This strategic move aims to enhance liquidity and support future growth initiatives, despite the inherent market risks associated with such offerings.
Lazydays Holdings, Inc. (LAZY) reported preliminary results for Q3 2020, indicating significant growth and record-breaking performance. Preliminary revenues reached $216 million, a 36% increase from $158 million in Q3 2019, while net income was $11 million. Adjusted EBITDA surged 261% to $19 million. Year-to-date unit sales increased, with total growth at 34% and used unit sales up 40%. Lazydays also ended the quarter with a cash balance of $82 million and plans for future growth through acquisitions and expansions.
Lazydays Holdings (NASDAQ: LAZY) announced its intent to acquire Camp-Land RV, a well-established RV dealership in Burns Harbor, Indiana. This acquisition, expected to finalize within 45 days, is part of Lazydays' strategy to expand geographically. Camp-Land RV features popular brands like Grand Design and Winnebago, enhancing Lazydays' market presence in northern and central Indiana, Chicagoland, southern Michigan, and western Ohio. CEO William P. Murnane expressed enthusiasm for the acquisition and commitment to support Camp-Land's legacy.
Lazydays Holdings, Inc. (NASDAQCM: LAZY) has completed the acquisition of Total Value Recreational Vehicles in Indiana, a leading RV dealership. This strategic move enhances Lazydays' presence in the Midwest, a key region for RV manufacturing. Total Value RV boasts strong brands like Thor Motor Coach and Coachmen. The acquisition includes real estate for expanded operations, marking a significant step in Lazydays' geographic growth strategy. The new location will be branded as Lazydays RV of Elkhart, further solidifying Lazydays' footprint across multiple states.
Lazydays Holdings, Inc. (Nasdaq: LAZY) has appointed Linda Stephens as the new Vice President of Customer & Employee Experience, effective immediately. Previously the Vice President of Customer Experience, she will focus on enhancing both customer and employee experiences within the dealership network. William P. Murnane, Chairman and CEO, praised her extensive experience in achieving positive results. Stephens, who joined Lazydays in 2004, will lead initiatives to improve employee engagement and retention, directly impacting customer satisfaction.
Lazydays Holdings, Inc. (NasdaqCM: LAZY) reported preliminary results for July 2020, indicating a significant recovery amid the COVID-19 pandemic. RV unit sales surged by 48% to 948 units compared to July 2019, while RV unit revenue soared by 66% to $71 million. Total revenue climbed 62% to $78 million, with net income reaching $3.5 million, a stark contrast to a loss of $0.2 million in the prior year. Adjusted EBITDA also saw a substantial increase of 276% to $6.4 million. The company anticipates continued strong demand moving forward, although inventory remains tight due to increasing shipments from OEMs.
Lazydays Holdings reported strong financial results for Q2 2020, with revenues of $214.0 million, a 26.9% increase year-over-year. RV sales drove this growth, with $191.5 million in revenues, up 28.5%. Unit sales rose to 2,950, up 41.0%. Gross profit was $44.0 million, reflecting a 23.9% increase. Net income surged to $8.1 million or 39¢ per share, significantly higher than last year's $1.9 million. Cash reserves increased to $62.1 million. July 2020 demand remains strong, indicating promising future performance.
Lazydays Holdings, Inc. (Nasdaq: LAZY) will report its financial results for Q2 2020, ending June 30, on July 30, 2020, before market opening. A conference call is scheduled for the same day at 10:00 AM ET, accessible via online registration or phone. This call will discuss the company's performance and future outlook. Lazydays, a leading RV retailer, operates the largest RV dealership in the U.S. and emphasizes customer service excellence. Investors can expect insights into financial metrics that may affect stock performance.
Lazydays Holdings, Inc. (NasdaqCM: LAZY) announced preliminary financial results for Q2 2020, revealing a revenue increase of 30% year-over-year to $214 million, with net income of $7 million. The quarter saw a significant recovery from the COVID-19 impact, as RV unit sales rose 40% to 2,935 units compared to Q2 2019. Notably, sales improved month-over-month, with May and June showing substantial gains. The Company ended the quarter with a cash balance of $62 million, indicating a strong liquidity position. Demand remains robust as inventory levels are rising due to increased production.
Lazydays Holdings, Inc. (NASDAQ: LAZY) has signed a letter of intent to acquire Total Value RV, a leading RV dealership in Elkhart, Indiana. The acquisition is anticipated to close within 90 days and is part of Lazydays' strategy for geographic expansion. CEO William P. Murnane expressed excitement about joining the Elkhart community and strengthening partnerships with OEMs as a result of this acquisition. Total Value RV is recognized as Indiana's number one motorhome dealership, enhancing Lazydays' presence in a key RV manufacturing area.
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