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 announced its acquisition of Chilhowee RV Center, a dealership in Knoxville, Tennessee, with over 53 years of family ownership. The acquisition aligns with Lazydays' strategy for geographic expansion in the RV market and is expected to be finalized in 30 to 60 days. Chilhowee RV Center offers popular RV brands such as Airstream and Winnebago, enhancing Lazydays' portfolio. Currently, Lazydays operates eleven dealerships across various states and is actively expanding through acquisitions and new locations.
Lazydays, The RV Authority, has announced plans to open its second Minnesota dealership in Monticello. Concurrently, the existing Ramsey location will be transformed into 'Airstream of Minnesota at Lazydays RV', featuring a dedicated showroom and specialized staff. This new Airstream dealership is expected to enhance market share in Minnesota, with an anticipated opening in Spring 2021. Currently, Lazydays operates 11 dealerships across several states and has plans for further expansion, including an acquisition in Reno, Nevada.
Lazydays, The RV Authority, announced the opening of a new dealership in Monticello, Minnesota, enhancing its presence in the state. The company signed a Real Estate Purchase Agreement for a 10.68-acre site with 57,000 sq. ft. of indoor space, set to open in Spring 2021. This will be Lazydays' second dealership in Minnesota, strategically positioned between Minneapolis and St. Cloud. The dealership will feature top brands like Tiffin and Winnebago, providing a welcoming environment for customers. Lazydays is also acquiring Sprad's RV in Reno, Nevada, as part of its expansion strategy.
Lazydays Holdings, Inc. (NASDAQCM: LAZY) has signed a letter of intent to acquire Sprad's RV in Reno, Nevada, expanding its presence in a growing market. The acquisition, aimed for completion within 30 to 60 days, will enhance Lazydays' offerings with Sprad's selection of top RV brands, including Grand Design and Thor. CEO William P. Murnane expressed enthusiasm about the acquisition and the strategic growth it represents. This move aligns with Lazydays' ongoing geographic expansion strategy, further solidifying its footprint in the RV industry.
Lazydays Holdings, Inc. (NasdaqCM: LAZY) announced preliminary results for Q4 2020, reporting revenue of $196 million, a $51 million increase from Q4 2019. Net income rose to $5.4 million, recovering from a $0.5 million loss in the same quarter last year. Adjusted EBITDA surged 345% to $14.7 million, with RV unit sales up 34% to 2,132 units. The cash balance stood at $63.5 million, and retail unit sales growth reached 32%, outperforming industry forecasts. Demand remains strong, with ongoing evaluations for growth opportunities.
Lazydays, The RV Authority, has launched a new dealership in Murfreesboro, TN, marking its 11th full-service RV dealership. The 42,000 square-foot facility will serve the growing Nashville market and offer popular RV brands including Grand Design and Winnebago. This expansion underscores Lazydays' commitment to geographic growth, backed by a proficient management team. With operations spanning multiple states, Lazydays aims to enhance customer experience in the RV sector.
Lazydays Holdings, Inc. (NASDAQ: LAZY) has successfully completed the acquisition of Camp-Land, Inc., a prominent RV dealership in Burns Harbor, Indiana, enhancing its presence in the Midwest. This acquisition, announced on December 1, 2020, is part of Lazydays' strategy to expand its operations and brand offerings, particularly in the Chicagoland area. Camp-Land RV sells top brands such as Grand Design and Jayco, contributing to Lazydays' growth, which now includes ten dealerships across various states. The company anticipates further expansion with additional acquisitions and new locations in the near future.
Lazydays reported strong financial results for Q3 2020, with revenues reaching $215.7 million, a 36.2% increase from 2019. RV sales accounted for $194.6 million, growing by 40.1%. Unit sales rose 34.1% to 2,595. Gross profit climbed 61.5% to $49.3 million, with a gross margin increase to 22.2%. Net income improved to $11.6 million or 55¢ per share, compared to a net loss of $2.5 million in the prior year. Cash reserves reached $81.7 million, up $50.2 million year-over-year.
Lazydays Holdings, Inc. (NasdaqCM: LAZY) will announce its third-quarter 2020 financial results on November 4, 2020, prior to market opening. A conference call is scheduled for 10:00 AM Eastern Time on the same day, allowing stakeholders to engage with company representatives. Investors can participate via phone or webcast. Founded in 1976, Lazydays operates the largest RV dealership in the U.S., offering a wide selection of new and pre-owned RVs, as well as comprehensive services.
Lazydays Holdings, Inc. (NasdaqCM: LAZY) has withdrawn its proposed share offering, believing the offering price did not reflect the company's underlying value. CEO William P. Murnane emphasized the company's strong balance sheet and commitment to shareholder interests. Lazydays has achieved significant market share gains and growth over the past year and is well-positioned for future expansion, particularly with planned dealership acquisitions. The company operates the largest RV dealership in the U.S., providing a diverse range of RV products and services.
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