Lazydays’ Preliminary Q1 Results Impressive

Recreational vehicle (RV) sales, service, and ownership experience provider Lazydays Holdings, Inc. (NASDAQ: LAZY) has released preliminary results for the first quarter of 2022.

The company said that its total revenues have increased 39% year-over-year to $376 million, beating the Street’s estimate of $347.47 million.

Its net income is expected to total $27.5 million, significantly higher than the $8.8 million reported in the first quarter of 2021.

Further, adjusted EBITDA has jumped 61% year-over-year to a record $44.8 million, and RV sales are up 17% to 3,748 units.

Lazydays has ended the quarter with $89.6 million in cash.

About Lazydays

Florida-based Lazydays provides a full spectrum of products for RV owners: RV sales, RV services, financing and insurance products, RV parts and accessories, RV rentals, third-party protection plans, and RV camping.

Analyst’s Opinion

Last month, Craig-Hallum analyst Steven Dyer maintained a Buy rating on the stock and lowered the price target from $27 to $25 (24% upside potential).

The analyst said, “We believe that LAZY is enjoying a multi-year growth period through the consolidation of the highly fragmented RV dealer market. With a robust pipeline of acquisition candidates, we expect the company will continue in its consolidation strategy, as well as ramp up its higher-ROI greenfield expansion strategy. We believe this can drive significant shareholder value.”

Overall, the stock has a Moderate Buy consensus rating based on one Buy and one Hold. Lazydays’ average price target of $24.50 implies 21.5% upside potential from current levels. The stock has gained almost 19% over the past three months.

Conclusion

The company is expected to release its first-quarter results on May 12. LAZY stock will receive a boost if its first-quarter results are as impressive as the preliminary numbers.

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