Financial Data and Key Metrics Changes - The company recorded revenue of $1.7 billion for Q3 2024, roughly flat compared to the previous year, driven by a 31% increase in new unit sales offset by an 18% decline in used unit sales [28] - Adjusted EBITDA was $67.5 million, with year-over-year variance primarily stemming from actions around used inventory procurement [32] - New vehicle gross margin was 13.5%, primarily driven by strong performance in Class C RVs, while used vehicle margins were 18.2% [29][30] Business Line Data and Key Metrics Changes - New unit sales increased by nearly 30% in July and August, continuing strong performance into September and October [22] - The Good Sam services and plans saw solid top-line growth, although growth profit comparison was impacted by a $5.5 million exit arrangement benefit in the previous year's third quarter [31] - The service and parts business showed year-over-year improvements, with customer pay work up on a single-digit percentage basis [69] Market Data and Key Metrics Changes - The company achieved nearly 11% market share in the combined new and used RV markets, with a goal to exceed 15% [19] - The used marketplace is stabilizing, with nearly the same amount of used units compared to last year, and margins improving [24] - The company anticipates used unit volumes to improve next year by low double digits year-over-year [26] Company Strategy and Development Direction - The company aims to grow through dealership acquisitions, with a clear path to increase locations from over 200 to 320 [11] - Focus on product innovation, with 36% of new unit sales coming from contract manufactured RVs exclusive to the company [13] - The strategy includes creating liquidity in the RV market and identifying underserved markets to capitalize on shifting consumer preferences [18] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in outperforming competitors and achieving market share growth despite macroeconomic headwinds [33] - The company is taking a conservative approach to forecasting, expecting modest increases in new unit sales and improvements in used unit margins [50][51] - Management highlighted the importance of understanding consumer payment sensitivity and the impact of interest rates on demand [49] Other Important Information - The company ended the quarter with approximately $180 million in cash and $366 million in used inventory [33] - Management emphasized the need for improved customer retention strategies for those who purchase RVs [71] - The company is focused on maintaining a disciplined approach to inventory management and market positioning [64] Q&A Session Summary Question: Outlook for modest new unit growth next year - Management expects the new market to perform better than in 2024, with continued market share gains [35] Question: Used inventory trends and procurement - The company plans to follow a normal seasonal trend for used inventory procurement, targeting a three and a half turn on used [38] Question: New RV margins and fourth-quarter expectations - Margins in the core business of travel trailers and fifth wheels were solid, with expectations for Q4 margins to be similar to Q3 [42][43] Question: Impact of storms on demand - Management noted that while some locations were affected by storms, new and same-store sales remained robust in October [44] Question: Industry outlook and potential upside/downside - Management forecasts the industry retail range to be around 350,000 to 360,000 units, with a conservative approach to interest rate cuts [49] Question: Dealership count and M&A progress - The company aims for 12 to 15 acquisitions per year, with a focus on identifying white space in the market [56][59] Question: Inventory positioning and growth confidence - The company has maintained a similar mix of model year inventory compared to last year, with confidence in pricing stability [61] Question: Competitive environment and inventory management - Management sees a divide between disciplined dealers and those with aged inventory, with no significant pressure on demand or margins [64] Question: Impact of interest rate changes - A 1% rate cut could benefit the company by up to $30 million, improving consumer confidence and potentially increasing average selling prices [66][67] Question: Parts and service performance - Customer pay work in the service segment was up on a single-digit percentage basis year-over-year [69] Question: Private label strategy - The company plans to leverage contract manufacturing to differentiate its product offerings and expand market share [74][80]

Shares of the RV retailer gained on a better-than-expected earnings report. Shares of Camping World (CWH 6.14%) were moving higher today after the nation's largest retailer of RVs and accessories posted better-than-expected results in its third-quarter earnings report. As of 12:42 p.m. ET, the stock was up 8.8% on the news. New vehicles surge at Camping World Overall revenue at Camping World was essentially flat in the quarter, with revenue falling 0.3% to $1.72 billion, which compared to estimates at $1.64 ...

Core Insights - Camping World (CWH) reported $1.73 billion in revenue for Q3 2024, a year-over-year decline of 0.3%, with an EPS of $0.13 compared to $0.39 a year ago, indicating a significant EPS surprise of +85.71% over the consensus estimate of $0.07 [1] Revenue Performance - Revenue from Good Sam Services and Plans was $50.84 million, slightly below the average estimate of $51.32 million, but showing a year-over-year increase of +1.9% [3] - Revenue from RV and Outdoor Retail for new vehicles was $824.92 million, exceeding the average estimate of $722.87 million, with a year-over-year increase of +21.5% [3] - Revenue from RV and Outdoor Retail for used vehicles was $447.24 million, below the average estimate of $458.95 million, reflecting a year-over-year decline of -24.2% [3] - Revenue from RV and Outdoor Retail's Good Sam Club was $10.90 million, compared to the average estimate of $12.06 million, representing a year-over-year decline of -1.4% [3] - Revenue from RV and Outdoor Retail finance and insurance was $166.26 million, slightly above the average estimate of $160.18 million, with a year-over-year increase of +1.6% [3] - Total revenue from RV and Outdoor Retail was $1.67 billion, surpassing the average estimate of $1.59 billion, but reflecting a year-over-year decline of -0.3% [3] - Revenue from RV and Outdoor Retail products, services, and other was $224.84 million, below the average estimate of $233.11 million, indicating a year-over-year decline of -4.6% [3] Unit Sales and Profit Metrics - Unit sales for new vehicles were 19,943, exceeding the two-analyst average estimate of 18,281 [3] - Unit sales for used vehicles were 14,065, slightly below the average estimate of 14,992 [3] - Average gross profit per unit for used vehicles was $5,771, above the average estimate of $4,947.60 [3] - Average selling price for used vehicles was $31,798, exceeding the average estimate of $29,984.01 [3] - Average gross profit per unit for new vehicles was $5,586, slightly below the average estimate of $5,790.29 [3] Stock Performance - Shares of Camping World have returned -14.1% over the past month, contrasting with the Zacks S&P 500 composite's +2% change, and the stock currently holds a Zacks Rank 3 (Hold) [4]

Camping World (CWH) came out with quarterly earnings of $0.13 per share, beating the Zacks Consensus Estimate of $0.07 per share. This compares to earnings of $0.39 per share a year ago. These figures are adjusted for non-recurring items. This quarterly report represents an earnings surprise of 85.71%. A quarter ago, it was expected that this recreational vehicle retailer and services provider would post earnings of $0.54 per share when it actually produced earnings of $0.38, delivering a surprise of -29.63 ...

Revenue Performance - Revenue for the third quarter was $1.7 billion, a decrease of $4.6 million, or 0.3% year-over-year[2] - New vehicle revenue increased to $824.9 million, up $145.7 million, or 21.5%, with new vehicle unit sales rising to 19,943 units, an increase of 4,738 units, or 31.2%[3] - Used vehicle revenue decreased to $447.2 million, down $143.0 million, or 24.2%, with used vehicle unit sales falling to 14,065 units, a decrease of 3,060 units, or 17.9%[3] - Same store new vehicle unit sales increased by 28.8%, while same store used vehicle unit sales decreased by 20.5%[3] - Total revenue for the three months ended September 30, 2024, was $1,724,988, a slight decrease from $1,729,613 in the same period last year, representing a decline of 0.5%[13] - New vehicle sales reached 824,916 units, up from 679,207 units year-over-year, indicating a growth of 21.5%[13] - Same store revenue for new vehicles increased by 19.2% to $737,070, while used vehicles revenue decreased by 27.6% to $399,525[14] - Total unit sales rose by 5.2% to 34,008 units, up from 32,330 units[14] Profitability Metrics - Gross profit was $498.5 million, a decrease of $24.6 million, or 4.7%, with total gross margin at 28.9%, down 134 basis points[3] - Gross profit for the three months was $498,524, down from $523,086, reflecting a decrease of 4.7%[13] - New vehicle gross margin for Q3 2024 was 13.5%, an increase from 12.0% in Q3 2019, while used vehicle gross margin fell to 18.2% from 21.1% in Q3 2019[21] - Total gross margin declined to 28.9% from 30.2% year-over-year[14] Net Income and Earnings Per Share - Net income for the third quarter was $8.1 million, a decrease of $22.8 million, or 73.9%[4] - Diluted earnings per share decreased to $0.09, down $0.23, or 71.9%[4] - Net income attributable to Camping World Holdings, Inc. was $5,501, a significant drop from $15,961 in the prior year, representing a decline of 65.5%[13] - Basic earnings per share decreased to $0.12 from $0.36, a decline of 66.7% year-over-year[13] - Net income attributable to Camping World Holdings, Inc. for the three months ended September 30, 2024, was $5,501,000, compared to a net income of $15,961,000 for the same period in 2023, representing a decrease of 65.5%[39] - Adjusted earnings per share - diluted for the three months ended September 30, 2024, was $0.13, compared to $0.39 in the same period of 2023, a decrease of 66.7%[39] Operational Metrics - The total number of store locations was 207, a net decrease of two locations from the previous year, or 1.0%[4] - Active customers decreased by 9.7% to 4,615,443 from 5,111,478[14] - New vehicle inventory per dealer location increased by 5.7% to $5,833 from $5,520[14] - Total RV and Outdoor Retail inventories decreased by 4.7% to $1,781,400 from $1,868,516[14] Cash Flow and Assets - Net cash provided by operating activities for the nine months ended September 30, 2024, was $408,541 thousand, compared to $543,273 thousand for the same period in 2023, a decrease of about 24.8%[18] - Cash and cash equivalents at the end of the period were $28,380 thousand, down from $39,647 thousand at the beginning of the period, reflecting a decrease of 28.2%[18] - Total current assets decreased to $2,107,726 thousand as of September 30, 2024, down from $2,349,112 thousand in December 2023, representing a decline of approximately 10.3%[16] - Total liabilities decreased to $4,472,533 thousand as of September 30, 2024, from $4,631,477 thousand in December 2023, a reduction of approximately 3.4%[16] - Total stockholders' equity attributable to Camping World Holdings, Inc. decreased to $107,816 thousand as of September 30, 2024, from $124,584 thousand in December 2023, a decline of approximately 13.4%[16] Future Outlook - The company anticipates a meaningful recovery in used unit volume next year, exceeding low double digits growth[1] - The company continues to focus on market expansion and new product development as part of its strategic initiatives[34] Adjusted Metrics - Adjusted EBITDA for the three months ended September 30, 2024, was $67,516, compared to $94,998 for the same period in 2023, reflecting a decrease of 29.0%[31] - Adjusted EBITDA margin for the three months ended September 30, 2024, was 3.9%, down from 5.5% in the same period last year[32] - Adjusted Net Income Attributable to Camping World Holdings, Inc. is defined as net income adjusted for non-cash and other items, providing a clearer view of ongoing operating performance[35] - Adjusted net income attributable to Camping World Holdings, Inc. – diluted for the three months ended September 30, 2024, was $11,414,000, down from $33,096,000 in the same period of 2023, a decline of 65.5%[39]

Camping World Holdings, Inc. (CWH) is poised to benefit from strong same-store new vehicle sales growth, acquisitions of new and used RV dealerships, and the opening of stores. Shares of this recreational vehicle dealer have gained 32.1% in the past year compared with the Zacks Leisure and Recreation Services industry's 40.7% growth. The company is investing in advanced training, expanding technology and improving infrastructure, including cybersecurity. These efforts support its objective of maintaining a ...

Momentum investors typically don't time the market or "buy low and sell high." In other words, they avoid betting on cheap stocks and waiting long for them to recover. Instead, they believe that "buying high and selling higher" is the way to make far more money in lesser time. Everyone likes betting on fast-moving trending stocks, but it isn't easy to determine the right entry point. These stocks often lose momentum when their future growth potential fails to justify their swelled-up valuation. In that phas ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2024 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from _____________ to _______________ Commission file number: 001-37908 CAMPING WORLD HOLDINGS, INC. (Exact name of registrant as specified in its charter) D ...

Camping World (CWH) reported $1.81 billion in revenue for the quarter ended June 2024, representing a yearover-year decline of 5%. EPS of $0.38 for the same period compares to $0.73 a year ago. The reported revenue represents a surprise of -3.11% over the Zacks Consensus Estimate of $1.86 billion. With the consensus EPS estimate being $0.54, the EPS surprise was -29.63%. While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine the ...

Camping World (CWH) came out with quarterly earnings of $0.38 per share, missing the Zacks Consensus Estimate of $0.54 per share. This compares to earnings of $0.73 per share a year ago. These figures are adjusted for non-recurring items. This quarterly report represents an earnings surprise of -29.63%. A quarter ago, it was expected that this recreational vehicle retailer and services provider would post a loss of $0.39 per share when it actually produced a loss of $0.40, delivering a surprise of -2.56%. O ...