NYSE$CWH

Camping World Holdings Inc. · Q4 2024 earnings

Q4 2024 earnings · · After market close · Investor relations

Briefing

Camping World Holdings, Inc. reported its financial results for the fourth quarter and full year ended December 31, 2024, with increases in new and used same store unit sales and overall revenue.

Camping World Holdings, Inc. reported a strong fourth quarter in 2024, with total revenue increasing by 8.6% to $1.2 billion and a significant improvement in gross profit by 9.7% to $376.9 million. The company saw combined new and used same store unit sales grow by 4.2%, driven by increased unit sales in both categories. Despite a net loss of $59.5 million for the quarter, Adjusted EBITDA showed a substantial increase of 72.1% to $(2.5) million, indicating operational improvements.

  • Total revenue for Q4 2024 increased by 8.6% to $1.2 billion compared to the same period last year.
  • Combined new and used vehicle unit sales increased by 9.6% to 22,148 units in Q4 2024.
  • Gross profit rose by 9.7% to $376.9 million, with total gross margin increasing by 33 basis points to 31.3%.
  • Adjusted EBITDA for Q4 2024 increased by 72.1% to $(2.5) million, reflecting improved operational performance.

Headline financials

Total Revenue

$1.2B

Previous: $1.11B+8.6%
EPS (adj)

-$0.47

Previous: -$0.47+0.0%
New Vehicle Unit Sales

11.6K

Previous: 10.7K+8.0%
Used Vehicle Unit Sales

10.6K

Previous: 9.5K+11.4%
Combined Unit Sales

22.1K

Previous: 20.2K+9.6%
New Vehicle Avg Price

$43K

Previous: $41.9K+2.5%
Used Vehicle Avg Price

$32.9K

Previous: $33.9K-2.8%
New Vehicle Gross Margin

15.2%

No prior period
Used Vehicle Gross Margin

18.7%

No prior period
PSO Gross Margin

43.3%

No prior period
Total Gross Margin

31.3%

No prior period
Total Store Locations

206

Previous: 202+2.0%
Active Customers

4.5M

Previous: 5.0M-9.5%
Good Sam Club Members

1.8M

Previous: 2.0M-13.5%
Service Bays

2.8K

Previous: 2.8K+2.0%
F&I % of Vehicle Revenue

14.1%

Previous: 13.2%+6.8%
Net Income

-$59.5M

Previous: -$49.9M-19.3%
Operating Income

-$15.5M

Previous: -$12.1M-27.4%
Gross Profit

$377M

Previous: $343M+9.7%

Revenue & EPS history

Camping World · Revenue · Quarterly

$1.2B

Q4 2024+8.6%vs Q4 2023
Beat estimate in 10 of 15 quarters(67%)
ActualEstimate

Revenue by segment

Camping World · $1.73B total across 6 segments · Q3 2023

  • New Vehicles
    $679M
  • Used Vehicles
    $590M
  • Products, Service and Other
    $236M
  • Finance and Insurance, net
    $164M
  • Good Sam Services and Plans
    $49.9M
  • Good Sam Club
    $11.1M

Forward guidance

The company anticipates more stable industry trends throughout 2025, with continued momentum from the start of the year. They expect high-teens percentage growth in same store used unit trends and low-singles growth in same store new units year-over-year in January. The focus remains on increasing RV sales, cost discipline, and improving profitability.

Tailwinds

  • Expectation for more stable industry trends throughout 2025.
  • Same store used unit trends increased high-teens percentages year-over-year in January.
  • Same store new units increased low-singles in January, in line with expectations.
  • Organization is positioned exceptionally well for organic and inorganic growth in 2025.
  • Continued focus on selling more RVs, cost discipline, and driving significantly improved profitability.

Headwinds

  • No specific negative forward guidance was provided in the report.
  • No specific negative forward guidance was provided in the report.
  • No specific negative forward guidance was provided in the report.
  • No specific negative forward guidance was provided in the report.
  • No specific negative forward guidance was provided in the report.

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 2024

Historical avgQ4 2024

-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

Earnings price reactions
QuarterReport dateReaction (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

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