Camping World reports Q2 EPS 48c vs. 22c last year

Earlier this week, the company reported Q2 revenue $1.98B vs. $1.81B last year. Average selling price of new vehicles sold decreased 10.6% and average selling price of used vehicles sold decreased 1.2%. Same store new vehicle unit sales increased 22.2% for the second quarter and same store used vehicle unit sales increased 20.8%. Combined same store new and used vehicle unit sales increased 21.6%. Marcus Lemonis, CEO, stated, “I am unbelievably pleased with our Company’s financial performance in the quarter, driven by volume, margin performance and aggressive cost controls. We continue to surgically manage our inventory to find volume and gross profit opportunities leveraging our new and used supply chains, our contract manufacturing relationships, our sophisticated data analytics, and the strength of our balance sheet to put the right inventory on the ground at the right time and the right price. Our nimbleness is a true testament to the differentiation and durability of our model. We have made structural changes to our fixed costs compared to last year, reducing our headcount by over 900, consolidating 16 locations, and selling 7,818 more units; meaningfully improving our per-rooftop productivity and proving we can adapt to the near-term ASP contribution margin environment in new vehicles.”