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TAMPA, Fla. - Lazydays Holdings, Inc. (NASDAQ:GORV) reported a narrower first quarter loss on Thursday as the RV retailer’s revenue beat analyst expectations.
The company’s shares were up 4.5% in pre-market trading following the release.
The company posted a Q1 net loss of $9.5 million, or $0.09 per share, compared to a loss of $22.0 million, or $1.67 per share, in the same period last year. Revenue came in at $165.8 million, down from $270.1 million YoY but above analyst estimates.
Lazydays said it made "meaningful progress" on its turnaround plan in Q1, with improved gross profit and margins across all product lines. The company also completed the divestiture of five dealership locations, allowing it to reduce debt by approximately $145 million.
"We are committed to continuing to execute our turnaround plan and to unlocking value for our shareholders," said Interim CEO Ron Fleming.
Total (EPA:TTEF) retail units sold fell to 2,148 from 3,521 a year ago, reflecting the challenging RV market. However, gross profit margin improved to 26.4% from 14.0% last year.
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