NYSE$CWH
Camping World Holdings Inc. · Q4 2023 earnings
Q4 2023 earnings · · Investor relations
Briefing
Camping World's Q4 2023 earnings were reported, with a return to positive new vehicle unit volume growth and continued acquisition pace.
Camping World Holdings, Inc. reported Q4 2023 results, with revenue of $1.1 billion, a net loss of $49.9 million, and adjusted loss per share of $0.47. New vehicle unit sales increased by 3.2%, while used vehicle unit sales decreased by 8.1%.
- New vehicle same store unit growth turned positive beginning in December.
- The company significantly improved its new unit inventory position.
- Used vehicle volumes are expected to improve over time, with gross margin improvement beginning in the second quarter.
- The company is confident in delivering unit volume and strong earnings growth in 2024.
Headline financials
Revenue & EPS history
Camping World · Revenue · Quarterly
$1.11B
Revenue by segment
Camping World · $1.73B total across 6 segments · Q3 2023
- New Vehicles$679M—39.3%
- Used Vehicles$590M—34.1%
- Products, Service and Other$236M—13.6%
- Finance and Insurance, net$164M—9.5%
- Good Sam Services and Plans$49.9M—2.9%
- Good Sam Club$11.1M—0.6%
Forward guidance
The company's outlook for 2024 includes delivering unit volume and strong earnings growth, driven by positive demand trends, inventory discipline, strength in the Good Sam segment, service and parts business, acquisitions, and cost reductions.
Tailwinds
- New vehicle same store unit growth turned positive beginning in December, trending up from mid-single to low-double digits in January and February.
- Significant improvement in new unit inventory position, with less than 7,500 new model year 2023’s remaining.
- Outpacing the industry with close to 80% in 2024 models currently.
- Successful negotiations in year-over-year pricing reductions on like-for-like new units has sparked early demand and new gross margin stabilization.
- Positive demand trends, inventory discipline, strength in our Good Sam segment and the service and parts portion of our business, acquisitions, and cost reductions.
Headwinds
- Reduction of new model pricing causes reset used vehicle values and slow down the purchases of used RV inventory while market values correct themselves.
- Used vehicle gross margins are expected to be negatively impacted by discounting.
- Unspecified risks and uncertainties could cause actual results to differ materially from forward-looking statements.
- Dependence on the availability of adequate capital and risks related to debt.
- Cyclical and seasonal nature of the business.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 20 quarterly earnings reports · overlaid with Q4 2023
-1.4%
Avg return
Earnings day
-2.6%
Avg return
5 days after
-0.3%
Avg return
30 days after
44%
17 / 39 earnings
Positive
+34.7%
Q1 2020
Best reaction
-24.9%
Q3 2025
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | +18.2% | +6.5% | +5.8% | |
| Q4 2025 | -16.5% | -25.5% | -36.3% | |
| Q3 2025 | -24.9% | -23.3% | -33.5% | |
| Q2 2025 | -15.3% | -15.9% | -0.7% | |
| Q1 2025 | +9.9% | +15.2% | +34.8% | |
| Q4 2024 | -0.2% | -10.2% | -21.2% | |
| Q3 2024 | +8.6% | -4.1% | +16.5% | |
| Q2 2024 | -4.1% | -12.6% | -4.2% | |
| Q1 2024 | -0.7% | +1.6% | -0.8% | |
| Q4 2023 | -1.9% | -1.0% | -1.5% | |
| Q3 2023 | +11.1% | +13.3% | +32.7% | |
| Q2 2023 | -14.5% | -14.4% | -22.8% | |
| Q1 2023 | +8.3% | +10.2% | +18.0% | |
| Q4 2022 | -9.5% | -9.8% | -26.1% | |
| Q3 2022 | -8.0% | -6.9% | -2.0% | |
| Q2 2022 | +7.7% | +4.8% | +7.1% | |
| Q1 2022 | +14.1% | +9.9% | -1.6% | |
| Q4 2021 | -10.4% | -6.2% | -7.1% | |
| Q3 2021 | +13.0% | +7.4% | +7.9% | |
| Q2 2021 | +6.8% | +6.1% | +0.8% | |
| Q1 2021 | +3.9% | +5.3% | -6.7% | |
| Q4 2020 | -15.8% | -12.9% | -3.0% | |
| Q3 2020 | +11.0% | +7.1% | +16.4% | |
| Q2 2020 | -15.5% | -17.7% | -22.0% | |
| Q1 2020 | +34.7% | +42.6% | +112.8% | |
| Q4 2019 | -5.9% | -12.9% | -53.4% | |
| Q3 2019 | +8.3% | +14.4% | +39.0% | |
| Q2 2019 | -19.9% | -22.3% | -27.8% | |
| Q1 2019 | -16.7% | -21.3% | -17.2% | |
| Q4 2018 | +1.1% | +6.3% | +13.3% | |
| Q3 2018 | -4.9% | -10.9% | -12.0% | |
| Q2 2018 | -11.6% | -8.6% | -7.6% | |
| Q1 2018 | -18.3% | -20.9% | -17.3% | |
| Q4 2017 | -2.9% | -0.6% | -22.1% | |
| Q3 2017 | -5.8% | -4.6% | +5.8% | |
| Q2 2017 | +7.0% | +9.7% | +19.1% | |
| Q1 2017 | +2.1% | -2.2% | -12.2% | |
| Q4 2016 | -5.4% | -5.4% | -18.8% | |
| Q3 2016 | +9.7% | +9.3% | +37.9% | |
| Q1 2016 | — | — | — | |
| Q4 2015 | — | — | — | |
| Q3 2015 | — | — | — | |
| Q2 2015 | — | — | — | |
| Q1 2015 | — | — | — |
Discussion
Share your read of this quarter. Sign-in carries your eToro identity.
Join the conversation
Sign in with eToro to post your read of this quarter and vote on others'.
Sign in with eToro