LINCOLNSHIRE, Ill. — Camping World Holdings today reported results for the fourth quarter and full year ended Dec. 31.
Key details from the fourth quarter report include:
- Total revenue increased 3.5 percent to $670.0 million
- Gross profit increased 9.2 percent to $196.6 million and gross margin increased 154 basis points to 29.3 percent
- Income from operations increased 40.0 percent to $34.2 million and operating margin increased 133 basis points to 5.1 percent
- Net income increased 13.6 percent to $13.6 million, net income margin increased 18 basis points to 2.0 percent; and adjusted pro forma net income increased 104.2 percent to $11.8 million
- Diluted earnings per share for the period of Oct. 6 to Dec. 31 was $0.09 and adjusted pro forma earnings per fully exchanged and diluted share for the full quarter increased 105.9 percent to $0.14
- Adjusted EBITDA increased 27.1 percent to $39.2 million and adjusted EBITDA margin increased 109 basis points to 5.9 percent
Key details for fiscal 2016 include:
- Total revenue increased 7.3 percent to $3.53 billion
- Gross profit increased 10.6 percent to $998.6 million and gross margin increased 83 basis points to 28.3 percent
- Income from operations increased 15.1 percent to $281.4 million and operating margin increased 54 basis points to 8.0 percent
- Net income increased 13.8 percent to $203.2 million, net income margin increased 33 basis points to 5.8 percent, and adjusted pro forma net income increased 23.8 percent to $133.1 million
- Diluted earnings per share for the period of Oct. 6 to Dec. 31 was $0.09 and adjusted pro forma earnings per fully exchanged and diluted share for the full year increased 24.6 percent to $1.58
- Adjusted EBITDA(3) increased 14.8 percent to $291.3 million and adjusted EBITDA(3) margin increased 54 basis points to 8.3 percent
“Our business in the fourth quarter and fiscal 2016 was very strong and we are pleased with the results,” said Marcus Lemonis, chairman and CEO. “The fourth quarter and full year benefited from strong consumer demand for recreation vehicles and our ability to sell our comprehensive portfolio of products and services across a growing proprietary customer database.
“In particular, our focus on the towable segment of the RV industry and higher-margin product and service revenue is driving our operating margin growth and flowing through to our bottom line,” he explained.
“Being the only provider of a comprehensive portfolio of services, protection plans, products and resources for RV enthusiasts, and operating the largest national network of RV-centric retail locations in the United States, we believe we are well positioned to benefit from continued growth in the installed base of RV owners that is being partially driven by higher levels of first-time buyers and new younger consumers, as well as the aging of the baby boomer demographic,” he added.
SOURCE: Camping World press release