Tuesday, September 25, 2018
Breaking News
Home » RV Industry News » Camping World CEO predicts record year of RV sales

Camping World CEO predicts record year of RV sales

Camping World CEO predicts record year of RV sales

LINCOLNSHIRE, Ill. — Camping World Holdings has reported results for the second quarter ended June 30.

 

Second quarter highlights and year-over-year financial comparisons include:

  • Total revenue of $1.445 billion, an increase of 13 percent, and an all-time company high
  • Record total gross profit of $416.2 million, an increase of 11.7 percent
  • Sales of new and used recreational vehicles (RVs) were over $1.0 billion, an increase of 6.5 percent
  • A record 33,637 new and used RVs sold, an increase of 8.5 percent
  • A record 21,745 new towable units sold, an increase of 14.1 percent in total and 5.1 percent on a same store basis, with travel trailer same store units increasing 6.7 percent
  • Finance and insurance revenue and gross profit of $124.1 million, an increase of 23.7 percent, and an all-time high
  • Good Sam Club file size of over 1.92 million members, an increase of 9.2 percent over the prior year, and the highest since inception
  • Income from operations, net income and diluted earnings per share of Class A common stock decreased to $120.2 million, $81.8 million, and $0.72, respectively, and included $15.4 million of pre-opening expenses related to the Gander Outdoors store openings
  • Adjusted pro forma net income(1) increased 10.6 percent to $85.6 million, and adjusted pro forma earnings per fully exchanged and diluted share(1) increased 6.8 percent to $0.96
  • Adjusted EBITDA(1) decreased 1.2 percent to $140.2 million

Marcus A. Lemonis, chairman and CEO stated, “Our RV business is on pace for another record year. While the early part of the RV selling season was impacted by unseasonal weather, we saw nice improvements as the second quarter progressed and our team did an excellent job of balancing our promotional activity to maintain strong profitability while driving sales growth and dramatically lowering our inventory levels of new RVs.’

He added, “We continue to invest in the growth of RV dealerships through traditional RV acquisitions, new store openings, and the launch of Gander RV Sales which will transform our recently acquired Gander Outdoors’ locations through the integration of RV sales and service. The launch of Gander RV Sales has provided the opportunity to rapidly expand our RV business in key states like Wisconsin, Minnesota, Texas, Michigan, Ohio, Pennsylvania, New York, North Carolina, and Illinois, which represent nine of the top 16 RV states, according to Statistical Survey Inc.’s new RV registration data, and accounted for nearly 35 percent of all RV registrations over the past 12 months.”

The company continues to pursue opportunities to expand its customer base and grow its market share in the RV, outdoor and active lifestyle categories. Recent strategic highlights include:

  • Completed six dealership acquisitions and added new RV dealerships in Sioux City, SD; Sherwood, AR; Nashville, TN; Redding, CA; Oklahoma City, OK and Newport News, VA in the second quarter 2018
  • Opened 52 Gander Outdoors stores in key markets with very strong RV registrations in the first half of 2018
  • Added RV sales to the Gander Outdoors stores in Kenosha, Wisconsin, and Fayetteville, North Carolina, in the second quarter 2018
  • Signed agreement to purchase Russ Dean RV in the Pasco, Washington market
  • On track to add RV parts, accessories and services to all Gander Outdoors locations and operate co-branded
  • Camping World and Gander Outdoors stores by the end of 2018
  • Announced plans to expand the number of RV sales locations by more than 30 percent through next year with the launch of Gander RV Sales in up to 40 locations, new store openings and continued acquisitions

 

For more information, visit www.CampingWorld.com.

 

Print Friendly, PDF & Email

About Ronnie Wendt

Ronnie Wendt is the editor in chief of RV Daily Report. She's been a writer/editor for more than 25 years, working in law enforcement, aviation, supply chain and now the RV industry. She's not a stranger to RVs, however. She grew up camping, and still camps as many weekends as she can every year.

5 comments

  1. Watch the youtube video about Camping World at https://thervshowusa.com. and then tell me how great Camping World is for the RV industry. You should be doing a story on how they are screwing up the industry and taking advantage of the RV buyer.

  2. I’m glad they are making money, glad I sold the stock, and very sad they are selling more units!

  3. Great new Marcus. Now that your sales revenue seems to be in order, try spending some of that hard earned money on improving your service departments across the board. Here are 3 important steps that might help. First, answer the phone when it rings. Second, listen to the customers concerns regarding the repairs that are needed. Third, have your technicians properly diagnose the repairs and fix the problem the first time. Affordable tech schools are offered by the OEM’s in the winter months when times are slower. You will be surprised how much more revenue you can make through your service department when your service is good..

  4. After investigating, researching, following blogs and seeing countless independent online videos I’m totally petrified to invest in a new “affordable” travel trailer. It’s apparent that the masses can be sold everything while demanding nothing. Between build issues and after the sale service at some point this industry will hit the fan. It won’t be pretty.

  5. J.M. is on point. Money spent on an RV could best be put to use on things more important.

Leave a Reply

Your email address will not be published. Required fields are marked *

*

RV Daily Report welcomes comments from readers. However, we expect that comments will be cordial and professional without reverting to name-calling, profanity and libelous language. Comments of that nature will be removed.