Lazydays Holdings(US:GORV)2025-05-15 13:32Financial Data and Key Metrics Changes - The company reported net sales of $166 million for the quarter, a decrease of $104 million or 39% compared to the prior year period, attributed to a deliberate reduction of inventory and lower store count [18][19] - Gross profit for the quarter was $44 million, an increase of $6 million compared to the prior year period, with a gross margin of 24%, representing a 10% increase compared to the prior year [19][20] - SG&A expenses improved to $39 million for the quarter compared to $49 million in the prior year period, primarily driven by reduced overhead personnel and marketing expenses [19][20] Business Line Data and Key Metrics Changes - New unit sales were down 36% or 912 units in the quarter, while average selling price for new units was 15% better for the quarter [17] - Pre-owned retail unit sales were down 48% or 655 units during the quarter, also reflective of divestitures [17] - Gross margins for new vehicles were 11% for the quarter, a 7% increase compared to the prior year period, while used vehicle gross margins were 21%, a 10% increase compared to the prior year period [18] Market Data and Key Metrics Changes - The company noted a healthier inventory mix and seasonal favorability contributed to an 18% increase in new unit sales and a 19% increase in used unit sales compared to the fourth quarter of 2024 [11] - The company observed a shift towards single axle towables and first-time buyers, with motorized inventory sales improving 11% in the first quarter versus the fourth quarter [14] Company Strategy and Development Direction - The company is focused on optimizing its dealership footprint and maximizing operational performance, having completed the sale of five dealerships to Camping World, which allowed for significant debt repayment [5][6] - A letter of intent was signed to divest three additional stores, reinforcing the strategy of refining the dealership footprint [7] - The company aims to strengthen its balance sheet to support long-term growth and stability while continuing to improve operational performance [20][21] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism regarding the RV lifestyle's affordability and consumer attraction despite potential impacts from tariffs [10] - The company is closely monitoring customer demand and macroeconomic trends, including tariffs and supply chain shortages [14] - Management highlighted the importance of maintaining a healthy inventory position and refining the consignment inventory program [13] Other Important Information - The company achieved a loss from operations of $2.3 million for the quarter, which included non-cash impairment charges of $2.9 million [20] - An adjusted EBITDA loss of $4 million was reported, an improvement compared to the loss of $18 million in the prior year period [20] Summary of Q&A Session - No questions were fielded following the conclusion of prepared remarks, as indicated by the operator [4]