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Mar 31, 2023
Camping World Q1 2023 Earnings Report
Camping World's first quarter results for 2023 were reported, featuring record used unit sales and used gross profit, with plans to continue aggressively acquiring RV dealerships.
Key Takeaways
Camping World Holdings, Inc. reported a 10.6% decrease in revenue to $1.5 billion for Q1 2023. Despite softer new vehicle demand, the company saw record setting gross profit performance in used vehicles and Good Sam Services and Plans. Net income was $4.9 million, a decrease of 95.4%. Diluted earnings per share was $0.05, while adjusted earnings per share was $0.14.
Revenue was $1.5 billion, a decrease of 10.6%.
Used vehicle revenue was a record $444.7 million, an increase of 10.4%, and used vehicle unit sales were a record 12,432 units, an increase of 13.3%.
New vehicle revenue was $646.8 million, a decline of 22.5%, and new vehicle unit sales were 13,912 units, a decrease of 26.9%.
Net income was $4.9 million, a decrease of 95.4%.
Revenue by Segment
Forward Guidance
Camping World anticipates a robust pipeline of dealership acquisition opportunities.
Positive Outlook
- Anticipate the pipeline will fill up
- Plan to capitalize on dealership acquisition opportunities
- Record setting gross profit performance in used vehicles
- Record setting gross profit performance in Good Sam Services and Plans
- Executing used vehicle strategy
Challenges Ahead
- Softer new vehicle demand
- Softer new vehicle gross margin
- Decrease in gross profit
- Decrease in gross margin
- Increase in the cost of new vehicles sold
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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