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Camping World reports double digit growth in Q2

Camping World reports double digit growth in Q2
LINCOLNSHIRE, Ill. — Camping World Holdings reported its results for the second quarter. The company reported that revenue increased 20.1 percent to $1.3 billion; gross profit increased 24.5 percent to $372.8 million and gross margin increased 102 basis points to 29.1 percent.

Other highlights from Camping World’s financial results included that income from operations increased 32.3 percent to $136.8 million and operating margin increased 98 basis points to 10.7 percent;
net income increased 26.3 percent to $105.3 million, net income margin increased 40 basis points to 8.2 percent, and adjusted pro forma net income(1) increased 41.6 percent to $77.7 million;

Diluted earnings per share was $0.84 and adjusted pro forma earnings per fully exchanged and diluted share increased 38.5 percent to $0.91; and adjusted EBITDA increased 36 percent to $142.1 million and adjusted EBITDA margin increased 130 basis points to 11.1 percent.

Marcus Lemonis, chairman and CEO, stated, “We delivered exceptional record-breaking results in the second quarter. Revenue increased 20.1 percent to $1.3 billion, net income increased 26.3 percent to $105.3 million, adjusted pro forma EBITDA increased 36.0 percent to $142.1 million and adjusted net income increased 41.6 percent to $77.7 million.”

He added, “We believe these results clearly demonstrate the power and leverage of our unique operating model, which sells a comprehensive portfolio of products and services across a growing database of consumers being driven by our national network of retail locations that cater to RV, boating and outdoor enthusiasts. While our business model has traditionally been focused on the RV owner, we see a much broader opportunity to leverage our products and services across the larger base of outdoor lifestyle consumers.”

Source: Business Wire press release

 

 

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About Ronnie Garrett

Ronnie Garrett 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.

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