Lazydays Holdings wrapped up what Chairman and CEO Bill Murnane told analysts is the best quarter the company has had.
“Just a fantastic quarter,” Murnane said, referencing third quarter 2020 financial results, according to a transcript of the call provided by Seeking Alpha. “So, I want to start by thanking the Lazydays employees. They’re truly a very unique and wonderful group of people, and we’re fortunate to have them supporting all of our efforts.”
Murnane described the company’s improving inventory position.
“Demand also remains strong,” Murnane said, according to the Seeking Alpha transcript. “And although our inventory levels are improving, they are still well below where we would like them to be. OEM production levels continue to recover from the impact of the pandemic and we expect OEM production to continue to improve through the rest of the year.”
Asked whether growth in travel trailers from new buyers is sustainable, Murnane said certainly – for the next couple years.
“We believe the new entrants to the market is definitely sustainable,” he said. “The new entrants are typically looking for lower-priced, new products or used products because they tend to be a little younger and looking for a little lower price point.”
Other points highlighted by Murnane include an increase in OEM shipments that are slightly outpacing retail demand.
“We’ve seen our numbers continue to go up on what we’re getting in,” he said. “Now keep in mind, we have a big presence in the South, and I think we’re going to get served first because we’re coming into season across the southern U.S. I think it’s a priority. We are also a larger player, so we may get some priority there as well. But it’s coming.”
Dealerships have more units on their lots now because of an increase in shipments, not because consumer demand has slowed, Murnane noted.
“Nothing short of a great quarter, there’s no other way to describe it,” Murnane said.
