Lazydays Q3 2023 Earnings Report
Key Takeaways
Lazydays reported a decrease in revenue to $280.7 million from $333.8 million year-over-year. The company experienced a net loss of $(5.6) million, a significant change from the net income of $7.7 million in the same quarter of the previous year. Despite the losses, Lazydays expanded its network through acquisitions and new greenfield locations.
Revenue decreased to $280.7 million from $333.8 million in Q3 2022.
Net loss was $(5.6) million compared to a net income of $7.7 million in Q3 2022.
Acquired Buddy Gregg Motorhomes and Century RV, and opened a new greenfield location in Wilmington, Ohio.
Ended the quarter with an estimated liquidity of $67.8 million.
Lazydays
Lazydays
Lazydays Revenue by Segment
Forward Guidance
Lazydays anticipates growth from recent acquisitions and new store openings, but faces risks related to economic conditions and market demand.
Positive Outlook
- Expects $125 million in revenues from recently acquired stores at steady state.
- Rights offering expected to generate $99.6 million for growth initiatives.
- Focus on expanding network through acquisitions and new builds.
- Strategic approach to growth and delivering exceptional RV experiences.
- New Fort Pierce, Florida greenfield location opened and Surprise, Arizona greenfield location on track to open in Q4.
Challenges Ahead
- Forward-looking statements involve risks and uncertainties.
- Actual results may differ materially from projections.
- Future economic and financial conditions could impact performance.
- Changes in customer demand may affect results.
- Dependence on relationships with vehicle manufacturers and suppliers.
Revenue & Expenses
Visualization of income flow from segment revenue to net income