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Sep 30, 2024
Camping World Q3 2024 Earnings Report
Camping World's Q3 2024 results were reported, showing positive growth in combined new and used same store unit sales and a record new unit market share.
Key Takeaways
Camping World Holdings, Inc. reported a revenue of $1.7 billion for Q3 2024, a slight decrease of 0.3%. The company saw an increase in new vehicle revenue by 21.5% but a decrease in used vehicle revenue by 24.2%. Net income was $8.1 million, a decrease of 73.9% compared to the same quarter last year, with diluted earnings per share at $0.09.
Combined new and used same store unit sales returned to positive growth.
New vehicle revenue increased by 21.5%, while used vehicle revenue decreased by 24.2%.
Same store new vehicle unit sales increased by 28.8%, but used vehicle unit sales decreased by 20.5%.
Net income decreased by 73.9% to $8.1 million, and diluted earnings per share decreased to $0.09.
Revenue by Segment
Forward Guidance
Management anticipates an improved 2025 due to momentum from October volume trends and a focus on product development and affordability.
Positive Outlook
- Used units tracking to flat year-over-year in October.
- New units remaining solidly up by a double-digit percentage in October.
- Significant momentum as we focus on an improved 2025.
- Calculated approach to inventory has yielded market leading results.
- Average selling prices will modestly increase year-over-year.
Challenges Ahead
- Conservatism around used inventory procurement from 2024.
- Gross margins declining due to lower average selling prices on new and used vehicles.
- SG&A expenses increasing due to additional advertising expenses.
- Floor plan interest expense increasing due to higher principal balances.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
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