When Lazydays released preliminary fourth-quarter 2021 financial results, the dealership group estimated quarterly profits rose 595% from the fourth quarter of 2020.
The estimate fell short.
In final fourth-quarter results released Thursday, Lazydays reported profits soared 668% from the fourth quarter of 2020. Lazydays’ fourth-quarter 2021 profits totaled $16.9 million, up from $2.2 million in the fourth quarter of 2020.
The jump in profits came despite final revenue totaling $322.5 million, even with the preliminary estimate. Revenue climbed 64.1% year-over-year.
RV unit sales matched the preliminary estimate of 3,211, a 50.8% increase from the fourth quarter of 2020.
For the full year, Lazydays reported revenues up 51.1% to $1.2 billion and profits rose 461% from 2020.
The company stated first-quarter OEM shipments continued to improve, with towable RVs approaching desired stock levels.
“Inventories for higher-end towables, fifth wheels, and motorized units are improving,” Lazydays stated, “but remain below historical and desired levels with continued strong consumer demand.”
Lazydays opened its Monticello, Minnesota, location in March. The store is Lazydays’ second in Minnesota and among 16 dealerships the company owns.
