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 is set to announce its fourth quarter 2022 financial results before market opening on February 23, 2023. A conference call to discuss these results will occur the same day at 8:30 a.m. ET. The company, a leader in the RV industry, is known for its customer experience and ongoing geographical expansion through acquisitions and new locations. Founded in 1976, Lazydays RV continues to offer a vast selection of RV brands, service facilities, and accessories.
Lazydays (NASDAQ: LAZY) reported a revenue increase to $333.8 million for Q3 2022, up from $318.7 million in Q3 2021. However, net income per diluted share fell to $0.35 from $1.16 year-over-year. Adjusted net income for the quarter was $11.1 million, down from $28.8 million in 2021. The company announced the acquisition of Dave's Claremore RV, expected to generate over $60 million in annual revenue. Lazydays finished Q3 with $100.8 million in cash and $61.7 million available under its credit facility.
Lazydays Holdings, Inc. (Nasdaq: LAZY) announced the retirement of Chief Financial Officer Nick Tomashot, effective November 15, 2022. Kelly Porter will step into the role, bringing extensive experience from Lithia Motors. Tomashot will serve as an advisor until year-end to ensure a smooth transition. CEO John North praised Tomashot's contributions, particularly during the pandemic. Porter, a CPA with a strong background in dealership operations, is expected to enhance Lazydays' growth strategy as the company aims for continued expansion in the RV market.
Lazydays Holdings (Nasdaq: LAZY) is set to announce its Q3 2022 financial results on November 3, 2022, before the market opens. A conference call will be held at 10:00 a.m. ET to discuss these results. The company plans to suspend its pre-release earnings practice due to recent changes in executive leadership. Lazydays continues to expand its operations through acquisitions and greenfields, providing a wide range of RVs and services. The company emphasizes customer experience and aims to be a preferred destination for RVers.
Lazydays Holdings, Inc. (Nasdaq: LAZY) announced the appointment of John North as CEO effective September 6, 2022, replacing Interim CEO Robert DeVincenzi, who returns as Lead Independent Director. North, former CFO of Copart and Avis Budget Group, brings extensive financial leadership experience. As part of his employment agreement, he received a restricted stock unit award for 105,308 shares, vesting over three years. This leadership change marks a pivotal move in Lazydays' strategy for growth and customer service excellence.
Lazydays Holdings (LAZY) reported strong financial results for Q2 2022, with net income of $31.8 million, an increase of $6.5 million year-over-year. Revenue reached $373.6 million, up 15.7% from the previous year, driven by robust RV sales totaling $337.3 million. However, adjusted EBITDA fell 6.8% to $38.4 million, reflecting increased SG&A expenses totaling $61.5 million, which was $16.7 million higher than last year. The company had a cash balance of $105.4 million as of June 30, 2022.
Lazydays Holdings, Inc. (NasdaqCM: LAZY) has announced plans to release its second quarter 2022 financial results on August 4, 2022, before market opening. A conference call is scheduled for 10:00 AM ET to discuss these results, which will also be available via webcast. The company emphasizes its commitment to expanding operations through acquisitions and greenfield locations across the U.S., enhancing its position in the RV industry. Forward-looking statements highlight potential risks, including economic conditions and the impact of global events.
Lazydays Holdings, Inc. (LAZY) announced preliminary results for Q2 2022, reporting revenue of $373.6 million, an increase of $50.8 million from the previous year. Net income rose to $31.8 million, a $6.5 million increase compared to Q2 2021. Adjusted EBITDA for the quarter was $38.4 million, down from $44.3 million in Q2 2021. RV unit sales also saw a decline of 3.7% with 4,052 units sold. The company maintains a solid cash reserve of $105.4 million at the end of the quarter.
Lazydays Holdings has successfully acquired Dave's Claremore RV in Claremore, Oklahoma, marking a strategic expansion in the Oklahoma market. This acquisition is part of Lazydays' growth strategy, having added five dealership locations in the past year, including sites in Portland, Vancouver, and Milwaukee. The company now operates seventeen dealerships across various states and continues to pursue further acquisition and expansion opportunities. This move aims to enhance customer experience and solidify Lazydays' position in the RV market.
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