Lazydays Holdings has reported revenues in the fourth quarter of $196.6 million, a 36 percent jump – up $51.7 million – from the same quarter last year. Revenue from sales of RVs was $176.6 million for the fourth quarter, up $50.1 million, or nearly 40 percent. RV unit sales excluding wholesale units were 2,129 for the fourth quarter, up 544 units, or 34 percent versus 2019. New and preowned RV sales revenues were $117.4 million and $59.2 million for the quarter, up 58 percent and 13.5 percent, respectively.
Revenues for the fourth quarter included the positive impact of the Houston service center opening in February 2020, the Phoenix dealership acquired in May 2020, the Elkhart dealership acquired in October 2020, and the Burns Harbor dealership acquired in December 2020.
Revenues for the fiscal year 2020 were $817 million, up $172 million, or 27 percent, versus 2019. Revenue from sales of recreational vehicles was $730 million for the year, up $163 million, or 28.7 percent. RV unit sales excluding wholesale units were 10,020 for the year, up 2,429 units, or 32 percent.
The company said that in the recent quarter, product shipments from OEMs have increased, but remain equal to or slightly below strong consumer demand. As a result, inventory levels remain relatively flat and well below historical and desired levels, it said.
The company said its pending sale backlog is at historical highs and growing. Pending sales are contracts for units that are sold but have not been delivered to the dealership by the OEM. The company said that backlog should favorably impact future revenue.
Lazydays currently operates eleven dealerships in Florida, two in Colorado, two in Arizona, one in Minnesota, and two in Tennessee and Indiana. It operates a dedicated service center near Houston.
In January, the company opened its new greenfield dealership near Nashville, Tenn., and it expects to close on the Chilhowee RV Center acquisition in March.
The company has also announced plans to acquire Sprad’s RV in Reno, Nev., and open a new dealership in Monticello, Minn., as well as plans to create standalone Airstream dealerships in Minnesota, and Knoxville and Nashville, Tenn.