Group 1 - Lazydays Holdings Inc. (GORV) experienced a significant stock price surge, increasing by 22.79% in after-hours trading to $3.76, following a 24.90% gain during regular trading, after announcing a letter of intent for acquisition by Campers Inn RV [1] - Campers Inn RV intends to acquire nearly all of Lazydays' assets and those of its subsidiaries, but Lazydays indicated in a Form 8-K filing that the expected sale price might be lower than its total debts, which could lead to no recovery for stockholders [2] - The acquisition is targeted for completion before Thanksgiving, with a final deadline of December 1, and may involve site-by-site transaction closings due to the complexity of the dealership network consolidation [3] Group 2 - The acquisition will allow Campers Inn RV to operate Lazydays dealerships in multiple states, expanding its presence to 48 locations across 22 states, marking its first entry into Tennessee, Colorado, and Utah markets [4] - CEO Jeff Hirsch emphasized the strategic importance of the acquisition, stating it would ensure the traditions of both Campers Inn RV and Lazydays endure and thrive for future generations [5] - Despite the recent gains, GORV remains down 93.46% year-over-year, having dropped 88.5% from a peak of $26.73 on March 13, closing at $3.06 yesterday [5]

Core Insights - Camping World reported Q2 2025 GAAP revenue of $2.0 billion, exceeding estimates of $1.88 billion, with a year-over-year increase of 9.4% [1][2] - Adjusted diluted EPS was $0.57, missing the expected $0.60, despite a 50% increase from $0.38 in Q2 2024 [1][2] - Vehicle unit sales reached a record 45,602, up 20.7% year-over-year, with significant growth in both new and used RV categories [5][6] Financial Performance - Revenue breakdown: Used vehicle revenue rose 19.0%, while new vehicle sales saw a unit growth of 20.9% but a 10.6% drop in average selling price [5][6] - Adjusted EBITDA was $142.2 million, a 34.7% increase from $105.6 million in Q2 2024 [2] - Total gross margin decreased to 30.0% from 30.3% year-over-year, while SG&A expenses rose by 3.5% to $429.1 million [2][9] Operational Developments - The company reduced its workforce by over 900 employees and closed 16 underperforming stores, leading to a 24.5% decrease in interest expense on floorplan financing [9][10] - New vehicle inventory decreased by 9.9% to $1.33 billion, while used inventory increased by 53.4% to $537 million [11][12] - The divestiture of the RV furniture business contributed to margin improvements in the Products, Service, and Other segment, despite a 5.5% revenue decline in that area [7][12] Strategic Focus - Camping World aims to expand its national dealership network and maximize profits in high-margin services [3][4] - The company targets a high-single digit percentage growth in new unit volumes for FY2025, with average selling prices for new vehicles expected to remain 10-12% below last year [13][14] - Management is focused on improving SG&A as a percentage of gross profit and aims for $500 million or more in adjusted EBITDA [13][14]