Lazydays Holdings’ preliminary results for the second quarter show the company expects to set records for quarterly revenue and earnings.
The dealership added three locations in the quarter that ended June 30. Revenues rose 51% from the previous year, profits rose 26.5% and earnings before interest, taxes, depreciation and amortization (EBITDA) rose 177%.
“We are very pleased to set an all-time quarterly revenue and EBITDA record for Lazydays in the second quarter,” Lazydays Chairman and CEO William P. Murnane said. “Our growth strategy continues to drive strong results and outpace the market.”
Murnane said first-half EBITDA in 2021 totaled $69 million, $10 million more than the entire 2020.
“Not only did we experience strong growth in the quarter, we also had robust growth in June,” he said. “Our June unit sales of 1,369 increased 25% vs June 2020 unit sales of 1,091 and increased 118% vs. June 2019 unit sales of 628. We are very proud of the Lazydays team for these outstanding accomplishments.”
Adjusted EBITDA totaled $41.3 million in the second quarter, an all-time record, 48.6% greater than the previous mark set in the first quarter of 2021.
Total revenue reached an all-time high of $322.8 million in the second quarter.
The company said dealership inventory levels remained flat, however, as customer demand matched or exceeded incoming OEM shipments.