Lazydays Records 17% Topline Decline In Q2, EPS Tops Consensus

Lazydays Holdings, Inc. LAZY reported a second-quarter FY23 sales decline of 17.4% year-on-year to $308.38 million, missing the consensus of $315.17 million. EPS of $0.14 topped the analyst consensus of $0.11.

Gross profit for the quarter slumped 31.3% Y/Y to $67.72 million, and the corresponding margin contracted 440 basis points to 22%.

The second quarter of 2023 adjusted net income totaled $3.9 million compared to $23.5 million for the same period in 2022.

LAZY ended the second quarter with total estimated liquidity of $85.3 million, including cash of $24.2 million.

Lazydays remains on track to open its Wilmington, Ohio, and Ft. Pierce, Florida, greenfield locations in the third quarter.

Price Action: LAZY shares are trading higher by 3.34% at $13.00 on the last check Friday.