At first glance, Lazyday Holdings Inc. appears to have set a new quarterly record for earnings.
The company announced preliminary results for its third quarter, which ended Sept. 30. Lazydays is scheduled to announce final results from the quarter in early November.
In its preliminary announcement, however, Chairman and CEO William P. Murnane said the company is gaining market share and breaking records along the way.
“Our third quarter adjusted EBITDA (earnings before income, taxes, depreciation and amoritization) of $19 million shatters our previous quarterly record of $14.9 million that was set last quarter,” Murnane stated.
The preliminary results project $216 million in quarterly revenue and $11 million in quarterly profits.
“Year-to-date we believe we have outpaced industry market growth and are gaining significant market share,” Murnane stated.
That includes total unit sales growth of 34 percent in the first nine months of 2020, with new unit sales growth of 29 percent.
The company reported that demand continues to be strong in October, current OEM shipments are equal to customer demand and inventory levels remain flat.
“Our growth pipeline continues to be robust. We are evaluating multiple new growth opportunities including both acquisitions and greenfield buildouts,” Murnane stated.