Camping World Holdings(US:CWH)2025-10-28 20:10Financial Performance - Revenue for Q3 2025 was $1.8 billion, an increase of $81.1 million, or 4.7% year-over-year[3] - Adjusted EBITDA grew over 40% this quarter, reaching $95.7 million, an increase of $28.2 million, or 41.8%[2][6] - Gross profit was $517.0 million, an increase of $18.5 million, or 3.7%, with total gross margin at 28.6%[6] - The company reported a net loss of $40,438 in Q3 2025, compared to a net income of $5,501 in Q3 2024[19] - Net (loss) income attributable to Camping World Holdings, Inc. for Q3 2025 was $(40,438,000), a decline from $5,501,000 in Q3 2024[42] - Adjusted Net Income Attributable to Camping World Holdings, Inc. – Basic for Q3 2025 was $29,257,000 compared to $7,509,000 in Q3 2024, reflecting a significant increase[42] - Adjusted Earnings Per Share – Basic for Q3 2025 was $0.47, up from $0.17 in Q3 2024, indicating a strong performance improvement[42] - Adjusted Net Income Attributable to Camping World Holdings, Inc. – Diluted for Q3 2025 was $44,279,000, compared to $11,414,000 in Q3 2024[42] - Adjusted Earnings Per Share – Diluted for Q3 2025 was $0.43, compared to $0.13 in Q3 2024, reflecting improved earnings performance[42] Sales and Market Share - Year-to-date market share for new and used units reached a record 13.5%, an improvement of over 200 basis points[2] - Used vehicle revenue increased by $141.9 million, or 31.7%, with unit sales up by 4,629 units, or 32.9%[3] - New vehicle revenue decreased by $58.1 million, or 7.0%, with unit sales increasing by 343 units, or 1.7%[3] - New vehicle sales increased by 1.7% to 20,286 units in Q3 2025, while used vehicle sales surged by 32.9% to 18,694 units[20] - Same store revenue increased by 5.2% to $1,577,467, driven by a 31.6% increase in used vehicle sales[20] - Total unit sales increased by 16.0% to 115,247 vehicles in the nine months ended September 30, 2025, compared to 99,368 vehicles in the same period of 2024[21] - New vehicle unit sales rose by 8.1% to 63,708, while used vehicle unit sales surged by 27.4% to 51,539[21] Expenses and Liabilities - Selling, general and administrative expenses decreased by $3.2 million, or 0.8%, primarily due to lower employee compensation costs[6] - Current liabilities rose to $2,044,824, compared to $1,680,952 in the previous year[24] - SG&A Excluding SBC for Q3 2025 was $403,379,000, a decrease from $408,731,000 in Q3 2024[48] - SG&A for the nine months ended September 2025 was $1,235,945,000, compared to $1,205,358,000 for the same period in 2024, reflecting an increase[48] Inventory and Assets - Total RV and Outdoor Retail inventories rose by 13.7% to $2,026,114, with new vehicle inventories increasing by 5.8%[20] - Total assets increased to $4,998,967 as of September 30, 2025, up from $4,863,277 at the end of 2024[24] - Total number of store locations decreased by 10, or 4.8%, to 197 as of September 30, 2025[6] Cash Flow and Investments - Net cash provided by operating activities was $95,236, a significant decrease from $408,541 in the prior year[25] - The company reported a net cash used in investing activities of $226,071, compared to $57,096 in the prior year[25] Other Financial Metrics - The diluted loss per share for Class A common stock was $(0.64) for Q3 2025, a decrease from earnings of $0.09 per share in Q3 2024[28] - The weighted average shares of Class A common stock outstanding increased to 62,735 in Q3 2025 from 45,232 in Q3 2024[19] - Non-controlling interests accounted for a net loss of $11,087 thousand in Q3 2025, compared to a loss of $2,555 thousand in Q3 2024[28] - The company highlighted the importance of Non-GAAP financial measures, such as Adjusted EBITDA, for evaluating ongoing operating performance and strategic initiatives[29]