Eye Catching Stock News: Lazydays Holdings (NASDAQCM:LAZY)

Lazydays Holdings (NASDAQCM:LAZY)  stock identified change of -14.42% away from 52-week low price and recently located move of -62.41% off 52-week high price. It has market worth of $19.23MM. LAZY stock has been recorded -47.07% away from 50 day moving average and -53.01% away from 200 day moving average. Moving closer, we can see that shares have been trading -41.49% off 20-day moving average.

On March 19,2020, Lazydays Holdings (NASDAQCM:LAZY) declared financial results for the fourth quarter and fiscal year ended December 31, 2019 and provided some updates and highlights regarding the first quarter ending March 31, 2020.

2020 First Quarter Update and Highlights:

  • With 85% of the first quarter completed, the Company has experienced a significant increase in demand across all of its dealerships.
  • The Company expects unit volume, revenue and adjusted EBITDA to show strong double digit year-over-year growth in the quarter.
  • The Company believes its focus on providing a best-in-class customer experience along with service excellence is allowing it to gain market share in all of its markets.
  • The Company completed the integration of the recently acquired dealership at The Villages, Florida.
  • On February 17, 2020, the Company announced the opening of its first dedicated service center in the Houston, Texas metro area. The order backlog and staffing levels are ramping according to plan.
  • The Company secured property and permitting for its previously announced dealership near Nashville, Tennessee. This dealership is expected to open in late Q3 or early Q4 2020.

Fourth Quarter Financial Results and Highlights:

  • Revenues for the fourth quarter were $144.9 million; up $19.1 million, or 15.1%, versus 2018. Revenue from sales of recreational vehicles (RVs) was $126.5 million for the fourth quarter, up $16.4 million, or 14.9%, versus 2018. RV unit sales excluding wholesale units, were 1,585 for the fourth quarter, up 251 units, or 18.8% versus 2018. New and preowned unit sales were $74.4 million and $52.1 million for the quarter, up 12.6% and 18.2% respectively compared to 2018.
  • Gross profit, excluding last-in-first-out (LIFO) adjustments, was $30.1 million, up $2.8 million versus 2018. Gross margin excluding LIFO adjustments declined between the two periods, from 21.7% in 2018 to 20.8% in 2019. This margin decline was driven by competitive end of model year pricing reducing RV sales gross margins, as well as an increase in wholesale sales as a percentage of the sales mix. The Company believes that the pressure on margins was driven by competitors in the industry carrying aged, out of model year inventory aggressively pricing units to meet cash flow needs. Gross profit for the quarter including LIFO adjustments was $29.2 million; up $2.3 million, or 8.6%, versus 2018. This gross profit comparison was reduced $0.5 million reflecting a net difference in LIFO adjustments between the two periods.

The Services sector company, Lazydays Holdings noticed change of -16.01% to $2.12 along volume of 26774 shares in recent session compared to an average volume of 6.46K. The stock observed return of -35.58% in 5 days trading activity. The stock was at -50.04% over one month performance. LAZY’s shares are at -48.29% for the quarter and driving a -65.53% return over the course of the past year and is now at -48.29% since this point in 2018.

The average volatility for the week at 13.08% and for month was at 5.80%. There are 9.07M shares outstanding and 8.07M shares are floated in market.

Leave a Reply

Your email address will not be published. Required fields are marked *