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) has appointed John North as the new Chief Executive Officer, effective September 6, 2022. North, who previously served as CFO of Copart (Nasdaq: CPRT), brings extensive leadership experience in multi-unit dealership operations. His appointment aims to enhance Lazydays' growth strategy and shareholder value. Chris Shackelton, Chairman of the Board, expressed confidence in North's operational strengths and capital allocation skills. The company recognizes its solid foundation and aims to capitalize on new investment opportunities.
Lazydays Holdings, Inc. (NASDAQ: LAZY) reported a strong financial performance for Q1 2022, achieving a net income of $28.3 million, an increase of $19.4 million year-over-year. Total revenue reached $376.2 million, up 38.8% compared to Q1 2021. RV sales contributed $340.5 million, driven by a 39.0% increase in sales. Gross profit, excluding LIFO adjustments, was $101.6 million, reflecting a 54.0% increase, while gross margin improved to 27.0%. However, SG&A expenses rose to $55.9 million, primarily due to dealership acquisitions and increased wages.
Lazydays Holdings, Inc. has signed a letter of intent to acquire Dave's Claremore RV, enhancing its presence in the Oklahoma market. The dealership, situated near Tulsa, offers prominent RV brands like Forest River and Thor. This acquisition is set to finalize within 90 days and is part of Lazydays' ongoing geographic expansion strategy, which includes both acquisitions and new locations. Interim CEO Robert DeVincenzi expressed optimism about the attractive RV market in Tulsa, while Stephanie Pierce emphasized the strong cultural fit between the two organizations.
Lazydays Holdings, Inc. (NasdaqCM: LAZY) will release its financial results for the first quarter of 2022 on May 5, 2022, before the market opens. A conference call is scheduled for the same day at 10:00 AM ET, allowing investors to hear about the company's performance directly.
Investors can join via web or phone registration. The call will be archived for later access. Lazydays continues to expand its presence in the RV industry and provides an extensive customer experience with a wide selection of RV brands.
Lazydays Holdings (Nasdaq: LAZY) announced preliminary results for the first quarter of 2022, reporting a revenue of $376 million, a 39% increase from the previous year. Net income rose to $27.5 million, compared to $8.8 million in Q1 2021. Key metrics include a 61% increase in Adjusted EBITDA, reaching $44.8 million, and a 17% rise in RV unit sales, totaling 3,748 units. The company ended the quarter with a cash balance of $89.6 million.
Lazydays, The RV Authority, announced plans to open new dealerships in Surprise, Arizona and Wilmington, Ohio. These locations, set to open in Q2 2023, will enhance Lazydays' presence in the Phoenix metropolitan area and strategically serve the Columbus, Cincinnati, and Dayton markets. The Surprise dealership will provide brands like Newmar and Thor, while the Wilmington location will feature Tiffin and Thor. Each dealership will include 20 service bays and a collision center, reinforcing Lazydays' commitment to customer service and geographic expansion.
Lazydays Holdings, Inc. (Nasdaq: LAZY) announced on March 14, 2022, that its Board of Directors has unanimously rejected a non-binding acquisition proposal from B. Riley to purchase the company at $25.00 per share. The Board deemed the offer as undervaluing the company and not beneficial for shareholders. They expressed confidence in Lazydays’ strategic direction, management, and growth potential, aiming to create substantial shareholder value in the coming years. The company continues to expand its geographic presence through acquisitions and new locations.
Lazydays Holdings reported robust financial results for Q4 and FY 2021, showing a revenue increase of 64.1% to $322.5 million in Q4, driven mainly by strong RV sales. Q4 net income rose to $16.9 million, while FY 2021 revenue reached $1.2 billion, up 51.1% YoY. Adjusted EBITDA for Q4 was $34.3 million, marking a 121% increase. The company's cash position improved to $98.1 million. In Q1 2022, RV shipments are on the rise, with demand remaining strong despite inventories still lagging behind historical levels.
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