Lazydays Q3 Earnings & Revenues Miss Estimates, Decline Y/Y

Core Viewpoint - Lazydays Holdings, Inc. reported disappointing third-quarter 2024 results, with both earnings and revenues missing expectations, leading to a 5.3% decline in share price during after-hours trading [1]. Financial Performance - The company reported an adjusted loss per share of $1.27, which was wider than the Zacks Consensus Estimate of a loss of 89 cents, compared to a loss of 29 cents per share in the same quarter last year [3]. - Total revenues for the quarter were$213.5 million, falling short of the Zacks Consensus Estimate of $228 million, and representing a year-over-year decline of 23.9$122.3 million, driven by a 13.1% drop in average selling price per retail unit and an 18.6% decrease in units sold [5]. - Pre-owned vehicle retail revenues declined by 19.8% to $60.2 million, while service, body, and parts revenues fell by 9.5$12.9 million [5]. Gross Margin and Balance Sheet - The company's gross margin improved by 180 basis points year over year to 21.2%, although gross margins for new and pre-owned vehicle retail decreased by 160 and 230 basis points to 9.2% and 18.2%, respectively [6]. - As of September 30, 2024, cash reserves were $13.5 million, down from$58.1 million at the end of fiscal 2023, while long-term debt slightly decreased to $27.6 million from$28.1 million [7]. Market Position - Lazydays Holdings, Inc. currently holds a Zacks Rank of 2 (Buy) [8].