Lazydays Holdings, Inc. (NASDAQ:GORV) shares are trading lower after the company released its fourth-quarter FY24 earnings results on Monday.
The company reported a fourth-quarter sales decline of 19.2% year-on-year to $159.88 million from $198.03 million last year.
Loss per share of $2.39 narrowed from a $7.59 loss last year. The gross profit margin (excluding LIFO) for the quarter remained same at 21.4%. Total retail units sold for the quarter decreased 14.8%.
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Fourth quarter net loss was $96.1 million compared to net loss of $108.0 million for the same period in 2023. Fourth quarter Adjusted EBITDA loss was $24.3 million compared to a loss of $10.7 million last year.
Lazydays held $24.7 million in cash and equivalents as of December 31, 2024.
In addition, the company said it has signed a letter of intent to divest three store locations to General RV Center.
The LOI is generally nonbinding, with the exception of a 75-day exclusivity provision relating to the three stores.
In March 2025, Camping World elected to not close on the purchase of two of the company’s dealerships located in Portland, Oregon and Council Bluffs, Iowa.
“While our fourth quarter and full year 2024 results were challenging, we believe the steps we have taken, and continue to take, will create a more durable and agile company that is positioned for the future,” said Interim CEO Ron Fleming.
“As we look ahead, we remain laser focused on ensuring we have the right dealership footprint – as evidenced by our announced letter of intent to further divest three store locations – while maximizing the operational performance of the stores within our footprint to drive long-term shareholder value.”
Price Action: GORV shares traded lower by 9.38% at $0.4250 at last check Monday.
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