Lazydays Holdings, Inc.

Greetings and welcome to the Lazy Days Holdings second quarter 2023 conference call. As a reminder, this conference is being recorded. It's now my pleasure to introduce your host, Kelly Porter, Chief Financial Officer. Thank you. You may begin.

Good morning, everyone, and thank you for joining us. Before we begin, I would like to remind everyone that we will be discussing forward-looking information, including potential future financial performance, which is subject to risks, uncertainties, and assumptions that could cause actual results to differ materially from such forward-looking statements and information. Such risks, uncertainties, assumptions, and other factors are identified in our earnings release and other periodic filings with the SEC, as well as the investor relations section of our website. Accordingly, forward-looking statements should not be relied upon as a prediction of actual results, and any or all of our forward-looking statements may prove to be inaccurate. We can make no guarantees about our future performance and we undertake no obligation to update or revise our forward-looking statements. On this call, we will discuss certain non-GAAP financial measures. Please refer to our earnings release, which is available on our website, for how we define these measures and reconciliations to the closest comparable GAAP measures. With that, I'd like to turn the call over to John North, our Chief Executive Officer.

Thank you, Kelly. Good morning, everyone, and thanks for joining today. As usual, I'll make a few opening comments. Kelly will give you our financial results, and then we'll answer some questions. As I reflect upon the second quarter, I would characterize the current environment as one where notwithstanding the operational complexities every retailer is facing, Lazydays continues to make significant progress around the strategic initiatives that will set us up for both growth and success in the future. Obviously, the market dynamics continue to be difficult. The pandemic pulled forward significant demand, Supply chain pressures resulted in cost inflation across our product lines and led to increases in both invoice and retail price of vehicles. And central bankers' efforts to counteract inflationary pressure through interest rates are now at more than a 20-year high and have affected financing costs and availability. However, underlying retail demand has been stable and has not experienced further deterioration. Both consumer and wholesale credit remains available, and the more challenging operational environment has catalyzed the marketplace, generating significant acquisition opportunities. There are also significant improvements available in both our used and service body and parts business lines. In the words of Churchill, our recent mantra has been to never let a good crisis go to waste. We have spent the last number of months focusing on optimizing our corporate overhead and reducing costs, improving the effectiveness of both our technology and marketing spend, and preparing the organization for significant growth in scale and operational efficiency. While many of these endeavors are just beginning to develop the green shoots that can be demonstrated externally, I am pleased with our progress and confident that we have laid significant groundwork that will become observable to our analysts and investors in the coming quarters. Kelly will take you to the details in a few minutes, but we have improved our SG&A expense through rigorous cost control. We have a much healthier inventory, both in quantity and age. and have begun to unlock some of the capital tied up in our real estate through mortgage financing. We've also been diligently working on growth and scale, including the acquisition of Las Vegas, Nevada, and the opening of Council Bluffs, Iowa earlier this year. We also completed the relaunching of our Monticello, Minnesota store as Airstream Minneapolis, which should be a top five dealer in the United States by sales volume, and just this week completed our second acquisition of 2023, with the purchase of Buddy Gregg RVs in Knoxville, Tennessee. We remain on track to open our Wilmington, Ohio, and Fort Pierce, Florida greenfields this quarter, and our Surprise, Arizona greenfield in the fourth quarter. Given the robust activity in the industry around store acquisitions, we anticipate an active cadence in the back half of the year. In short, the team continues to strengthen and gel around our strategic initiatives. First, we will be relentless in our execution and efficiencies. Secondly, we will aspire to be the dealer of choice with our OEM partners. Third, we will act like an owner and allocate capital responsibly and with a long-term mindset. Finally, we will grow and leverage our infrastructure to deliver above average performance metrics and superior return on invested capital. In closing, I always want to acknowledge the hard work of our team. It has not been an easy environment to operate in. The degree of difficulty is high and the landscape is competitive. Time and again, I'm impressed by the dedication and wherewithal of this team. I sincerely thank each and every one of our fantastic employees. And with that, I'll let Kelly take it away.