Welcome to our dedicated page for LAZY news (Ticker: LAZY), a resource for investors and traders seeking the latest updates and insights on LAZY stock.
LAZY (Lazydays) has been a cornerstone of the recreational vehicle industry since 1976, operating one of America's largest RV dealership networks. This news hub provides investors and industry professionals with essential updates on corporate developments, financial performance, and market strategies.
Our curated collection features official press releases, earnings reports, and operational updates directly from LAZY. Users will find timely information on new dealership openings, manufacturer partnerships, and service expansions alongside critical financial disclosures. Each update is verified at source to ensure reliability.
Key content categories include quarterly earnings announcements, leadership changes, inventory developments, and strategic initiatives shaping the RV retail landscape. This resource is particularly valuable for tracking LAZY's position in the evolving outdoor recreation market.
Bookmark this page for streamlined access to LAZY's corporate communications. Combine these updates with SEC filings and market analysis for comprehensive investment research. Check back regularly for the latest developments from this RV industry leader.
Lazydays Holdings, Inc. (Nasdaq: LAZY) completed its acquisition of Burlington RV Superstore on August 24, 2021. Burlington RV, located in Sturtevant, Wisconsin, is a leading RV dealer serving the Milwaukee and Northern Chicagoland markets. This acquisition marks Lazydays' seventh dealership added in ten months and aligns with their strategy for growth, which includes opening new locations like Monticello, Minnesota, and Airstream dealerships in Tennessee. The expansion enhances Lazydays' footprint and customer service focus across multiple states.
Lazydays Holdings, Inc. (LAZY) reported a strong second quarter ending June 30, 2021, with a net income of $25.3 million, marking an increase of $20 million year-over-year. Revenue reached $322.8 million, a 51% rise from 2020, driven by $290.2 million from RV sales, reflecting a 52% increase. Gross profit, excluding LIFO adjustments, was $86.4 million (up 98%), and adjusted EBITDA was $41.3 million (up 26.4 million). Cash reserves improved to $104.3 million. The results were aided by strong consumer demand despite increased SG&A expenses due to recent acquisitions.
Lazydays Holdings, Inc. (Nasdaq: LAZY) has successfully completed its acquisition of B. Young RV, enhancing its presence in the Pacific Northwest with two new locations in Oregon and Washington. This marks Lazydays' fifth and sixth dealership acquisitions within the last ten months, indicating a robust growth strategy. The company plans further expansion with upcoming acquisitions and new dealership openings, including Burlington RV in Wisconsin and additional locations in Minnesota and Tennessee. The focus is on delivering exceptional customer service and a diverse selection of RV brands.
Lazydays Holdings, Inc. (NasdaqCM: LAZY) will release its financial results for the second quarter of 2021, ending June 30, on August 5, 2021, before the market opens. A conference call is scheduled for the same day at 10:00 AM Eastern Time, which will also be streamed live online. Investors may access the call through online registration or via a dedicated link. The company, known as a leading RV brand, is focused on expanding its operations through acquisitions and new locations, enhancing its service and product offerings to customers.
Lazydays Holdings announced a significant expansion of its credit facilities on July 14, 2021. The new $369 million agreement with M&T Bank nearly doubles its Floorplan capacity from $175 million to $327 million and increases the Revolving Credit facility from $5 million to $25 million. This funding is aimed at supporting Lazydays' geographic expansion strategy. Notably, the existing $11.3 million term loan and $5.8 million mortgage debt will continue under the same amortization schedule, with no changes to Fixed Charge Coverage and Leverage Ratio covenants.
Lazydays reported strong preliminary results for Q2 2021, with revenue reaching $322.8 million, a significant increase of $108.8 million compared to Q2 2020. Net income surged to $25.8 million, up $20.4 million year-over-year. The company achieved an all-time quarterly record for both revenue and adjusted EBITDA, which rose 177% to $41.3 million. RV unit sales increased by 43% to 4,208 units. Additionally, Lazydays plans to expand by adding three new dealerships in Q3 2021 following acquisitions.
Lazydays Holdings (Nasdaq: LAZY) has signed a letter of intent to acquire Burlington RV Superstore in Sturtevant, Wisconsin. This strategic acquisition is part of Lazydays' geographic expansion strategy into the lucrative RV markets of Eastern Wisconsin and Northern Illinois. Burlington RV, a leading RV dealership with a 50-year legacy, offers a diverse selection of RV brands. The acquisition is expected to finalize within 90 days, marking an important step in Lazydays' growth trajectory.
Lazydays Holdings, Inc. (NasdaqCM: LAZY) will join the Russell 3000® Index after the annual reconstitution on June 28, 2021. This inclusion follows the evaluation of the largest US stocks based on market capitalization as of May 7. The Russell 3000® Index serves as a benchmark for investment managers and institutional investors managing approximately $10.6 trillion in assets. Chairman and CEO William P. Murnane expressed enthusiasm about increased visibility within the investment community, marking a significant milestone for the company amid its growth trajectory.
Lazydays Holdings, Inc. (Nasdaq: LAZY) received a notice from Nasdaq on May 25, 2021, for failing to file its Quarterly Report on Form 10-Q for Q1 2021. This breach places the company out of compliance with Nasdaq Listing Rule 5250(c)(1). While this notice has no immediate trading impact, Lazydays must submit a compliance plan by July 26, 2021, to regain compliance. The company's audit committee disclosed the need to reclassify certain warrants as liabilities, affecting prior financial statements. Lazydays aims to file the necessary documents within 60 days.
