The earnings call highlighted strong growth in new unit sales, expanded market share, and strategic dealership expansion. However, challenges included a decline in used unit sales and macroeconomic headwinds. Overall, the positive aspects and growth initiatives were more prominent.

Company Guidance

During the Camping World Holdings (CWH) Q3 2024 earnings call, the company provided guidance focusing on several key metrics and strategic priorities. Marcus Lemonis, Chairman and CEO, highlighted the company's record market share and robust performance in the Good Sam business, noting year-over-year improvements despite challenging RV industry conditions. He emphasized the strategic drivers of distribution, product innovation, and market-making capabilities as foundational for future growth, aiming to exceed a 15% market share from the current nearly 11%. The company plans to expand its dealership network from over 200 to 320 locations, leveraging dealership acquisitions and innovative retail concepts. CWH anticipates used unit volumes to grow in excess of low double-digit percentages year-over-year, with gross margins expected to normalize within historical ranges. The company projects SG&A as a percentage of gross profit to improve by 600 to 700 basis points in 2025. Financially, the call reported Q3 revenue of $1.7 billion, with adjusted EBITDA at $67.5 million, and highlighted a strategic focus on judicious capital allocation and expanding market presence, particularly in the used RV market.

Record Market Share and Growth

Camping World achieved record market share, with a nearly 11% share of the combined new and used RV markets. They aim for a 15% market share, which requires selling an additional 40,000 to 50,000 units.

Significant Increase in New Unit Sales

The company reported a 31% increase in new unit sales year-over-year, with strong performance in Class Cs and Class A gas and diesel segments.

Strategic Dealership Expansion

Camping World expanded to over 200 locations, with a clear path to 320, and is well-positioned in a favorable M&A environment.

Improved Used Vehicle Margins

Used vehicle margins were 18.2% and are expected to return to historical levels by the time the company exits the fourth quarter.

Strong Financial Position

The company ended the quarter with $180 million in cash, $366 million in used inventory, and $158 million in real estate without an associated mortgage.

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Camping World Holdings (CWH) Earnings, Revenues Date & History

The upcoming earnings date is based on a company’s previous reporting, and may be updated when the actual date is announced

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CWH Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change	Slides	Play Transcript
Feb 25, 2025	2024 (Q4)	-0.49 / -	-0.47	―	―	―
Oct 28, 2024	2024 (Q3)	0.09 / 0.13	0.39	-66.67% (-0.26)	―
Jul 31, 2024	2024 (Q2)	0.55 / 0.38	0.73	-47.95% (-0.35)	―
May 01, 2024	2024 (Q1)	-0.37 / -0.40	0.14	-385.71% (-0.54)	―
Feb 21, 2024	2023 (Q4)	-0.53 / -0.47	-0.2	-135.00% (-0.27)	―
Nov 01, 2023	2023 (Q3)	0.14 / 0.39	1.07	-63.55% (-0.68)	―
Aug 01, 2023	2023 (Q2)	0.78 / 0.73	2.16	-66.20% (-1.43)	―
May 02, 2023	2023 (Q1)	-0.03 / 0.14	1.15	-87.83% (-1.01)	―
Feb 21, 2023	2022 (Q4)	0.02 / -0.20	0.9	-122.22% (-1.10)	―
Nov 01, 2022	2022 (Q3)	1.29 / 1.07	1.98	-45.96% (-0.91)	―

The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.

Beat

Missed

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CWH Earnings-Related Price Changes

Report Date	Price 1 Day Before	Price 1 Day After	Percentage Change
Oct 28, 2024	$21.29	$22.77	+6.95%
Jul 31, 2024	$22.63	$21.73	-3.98%
May 01, 2024	$19.75	$19.78	+0.15%
Feb 21, 2024	$24.55	$24.68	+0.53%

Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.

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