- Lazydays Holdings Inc (NASDAQ:LAZY) reported fourth-quarter FY21 sales growth of 64.1% year-on-year, to $322.54 million, missing the consensus of $322.80 million.
- Revenue from sales of recreational vehicles (RVs) rose 64.8% Y/Y to $291 million. RV unit sales excluding wholesale units were 3,211 for Q4, up 1,082 units, or 50.8% versus last year.
- The company posted a net income of $16.8 million in the quarter versus $2.2 million last year.
- Excluding last-in-first-out (LIFO) adjustments, the gross margin expanded 400 basis points to 27.2%, with a gross profit of $87.6 million.
- The operating margin for the quarter was 8.1%, and the operating income jumped 147% to $26.2 million.
- Selling, general and administrative expenses rose 80.7% Y/Y to $53.7 million.
- Adjusted EBITDA increased 121% Y/Y to $34.3 million, primarily driven by the growth in all lines of business and improved RV sales margins.
- The company held $98.1 million in cash and equivalents as of December 31, 2021.
- Price Action: LAZY shares are trading lower by 2.63% at $17.80 on the last check Thursday.
