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. (NasdaqCM: LAZY) plans to announce its 2021 fourth quarter financial results on March 10, 2022, prior to market opening. A conference call is scheduled for 10:00 AM ET the same day, which will also be available via webcast. Lazydays is known as a leader in the RV industry, emphasizing customer experience and rapid geographic expansion through acquisitions and new locations. The company has outlined its expectations for future growth, including its recent dealership acquisitions in several states.
Lazydays Holdings, Inc. (Nasdaq: LAZY) announced preliminary results for Q4 2021, highlighting a revenue of $323 million, an increase of $126 million compared to Q4 2020. The net income surged to $15.3 million from $2.2 million in the previous year. Key metrics include a 110% rise in Adjusted EBITDA to $32.7 million, and a 50.6% increase in RV unit sales, totaling 3,211 units. The company's cash balance stands at $98.1 million.
Lazydays Holdings has announced a leadership transition as William P. Murnane steps down as Chairman and CEO. Effective January 1, 2022, Robert DeVincenzi, currently the lead independent director, will take on the role of Interim CEO, while Christopher Shackelton becomes the new Chairman. Murnane's resignation was notified on December 22, 2021, with the transition date moved up from March 16 to January 1. The Board is engaging an executive search firm to find Murnane's successor. DeVincenzi aims for a seamless transition and intends to review the company's capital allocation strategy.
Lazydays, the RV Authority, has appointed Harsh Uchariya as its new Chief Information Officer (CIO). Uchariya brings extensive experience from his previous role at ClubCorp and senior positions at Wyndham and Walt Disney World. His expertise in digital technology is expected to enhance Lazydays' business performance and customer experience. Lazydays is focused on expanding its geographic presence through acquisitions and new locations, aiming to provide superior RV sales and services.
Lazydays reported a strong financial performance for Q3 2021, achieving a net income of $31.0 million, a notable increase of $27.3 million year-over-year. Total revenue reached $318.7 million, up 48% from Q3 2020, driven primarily by RV sales of $285.8 million. RV unit sales rose to 3,609, a 39% increase. The company's EBITDA hit a record $41.5 million, up 116% from the previous year, reflecting a stronger gross margin of 28.1%. Cash increased to $67.0 million as of September 30, 2021, signaling robust operational cash flow.
Lazydays, the RV Authority, is set to open a new dealership in Fort Pierce, FL, aiming to enhance its presence on the Florida Atlantic Coast. The dealership is expected to commence operations in Q4 2022 and will feature brands such as Thor Motor Coach and Forest River, along with 20 service bays and a collision center. The expansion reflects Lazydays' growth strategy in one of the fastest growing RV markets in the U.S. CEO William P. Murnane highlighted the complementary nature of this addition to their existing locations on the Gulf Coast and Central Florida.
Lazydays Holdings, Inc. (NasdaqCM: LAZY) has announced plans to release its financial results for the third quarter of 2021, which ended on September 30, on November 4, 2021, before market opening. A conference call is scheduled for the same day at 10:00 AM ET, available via online registration and telephonic access. Lazydays aims to continue enhancing its presence in the RV industry through acquisitions and new locations, thereby improving customer experience and product offerings.
Lazydays, The RV Authority, announced plans to open a new dealership in Council Bluffs, Iowa, targeting the Omaha, NE metropolitan area. Scheduled for a fourth-quarter 2022 opening, the dealership will be branded as Lazydays RV of Omaha. It will feature a variety of RV brands, including Grand Design and Thor Motor Coach, and will include 20 service bays and a collision center. The expansion aligns with Lazydays' strategy to enhance its sales and service footprint in growing RV markets.
Lazydays Holdings, Inc. (LAZY) reported preliminary results for Q3 2021, highlighting a revenue of $318.7 million, a 48% increase year over year. Net income surged to $30.2 million, an increase of $26.5 million from Q3 2020. Adjusted EBITDA reached a record $41.7 million, up 119%. RV unit sales rose 35% to 3,496 units. Despite a cash balance decline to $67.0 million, customer demand remains strong, and the company expanded its dealership network with 3 new locations.
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