Lazydays Shares Up After Strong Fourth Quarter and Fiscal Year 2021 Financial Results
Mar 11, 2022 By MarketDepth
Lazydays Holdings, Inc. (NASDAQ: LAZY) shares jumped more than 20% after the Company announced financial results for the fourth quarter and fiscal year ended December 31, 2021 and commented on how business and key initiatives were progressing in the first quarter of 2022. Lazydays Holdings, Inc. operates recreation vehicle (RV) dealerships under the Lazydays name in the United States. It provides RV sales, RV-repair and services, financing and insurance products, third-party protection plans, after-market parts and accessories, and RV camping facilities.
Revenue Up Over 60%
For the fourth quarter revenues were $322.5 million; up $126.0 million, or 64.1%, versus 2020. Revenue from sales of recreational vehicles (“RVs”) was $291.0 million for the fourth quarter, up $114.4 million, or 64.8%. RV unit sales excluding wholesale units were 3,211 for the fourth quarter, up 1,082 units, or 50.8% versus 2020.
Revenue Up Over 50% From 2020
For the fiscal year 2021 were $1.2 billion; up $417.9 million, or 51.1%, versus 2020, which included the positive impact of the seven new Lazydays locations described above, plus the Mesa, Arizona dealership acquired in May 2020.
Stock Continuing to Increase
Lazydays Holdings also provided 2022 first quarter updates, indicating that RV shipments from OEMs have continued to improve, with towables approaching desired stock levels. Inventories for higher-end towables, fifth wheels, and motorized units are improving, but remain below historical and desired levels with continued strong consumer demand.