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Jun 30, 2024
Camping World Q2 2024 Earnings Report
Camping World's Q2 2024 earnings were reported; the company achieved a record new unit market share and saw new same-store volume acceleration in June and July.
Key Takeaways
Camping World Holdings, Inc. reported a decrease in revenue by 5.0% to $1.8 billion for Q2 2024. However, the company achieved a record new unit market share and saw new vehicle unit sales increase by 16.9%. Net income decreased by 63.8% to $23.4 million, with diluted earnings per share at $0.22. The company is focusing on cost structure optimization and managing used vehicle inventory.
Achieved record new unit market share driven by affordability.
New vehicle unit sales increased by 16.9% year-over-year.
Same store new vehicle unit sales increased by 9.7%.
Gross profit was $547.7 million, a decrease of 4.1%.
Revenue by Segment
Forward Guidance
Camping World is focused on optimizing its cost structure and underperforming locations, while also managing its used vehicle inventory. The company anticipates a strong 2025 based on recent new vehicle performance.
Positive Outlook
- Record new unit market share.
- Mid-teens growth in same store new vehicle unit sales in June.
- Low-twenties growth in same store new vehicle unit sales in July.
- Ramping up used stocking levels.
- Record volume of consignments.
Challenges Ahead
- Macroeconomic environment uncertainties.
- Aggressive cost structure adjustments.
- Optimization of underperforming locations.
- Pressure on used vehicle margins.
- Pressure on used vehicle volume in the second half.
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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