The call highlighted strong sales performance and market share gains, especially in used RVs, finance, and insurance. However, challenges remain with headcount reductions, pressure on new RV ASPs, and achieving SG&A reduction goals.

Company Guidance -

Q3 2025

During the Camping World Holdings conference call discussing the financial results for the second quarter of fiscal year 2025, several key metrics and guidance were highlighted. The company reported selling a record 45,000 RV units, generating $200 million in revenue from their finance and insurance department, and achieving a record revenue for Good Sam. They also noted a file size growth of 80,000 new customers for the quarter. Despite challenges in the macroeconomic environment, including tariffs and market volatility, Camping World emphasized their goal to improve SG&A by 600 to 700 basis points and to continue focusing on used RV sales, expecting double-digit growth in that segment. The call also outlined expectations for a modest increase in the new RV market in 2026, with a potential 15,000 to 20,000 unit rise. The company is aiming for over $500 million in adjusted EBITDA and plans to enhance gross margins by 100 basis points over the next 18 months. Additionally, they have made significant strides in reducing long-term debt, with $118 million in cash on their balance sheet, reflecting a strong financial position.

Record RV Sales

Camping World set a record by selling 45,000 RV units in the second quarter, the highest in any quarter.

Finance and Insurance Revenue Record

The finance and insurance department generated $200 million in revenue, the highest ever recorded.

Good Sam Revenue Record

Good Sam achieved a record revenue number for the quarter.

Significant Market Share Gain

Camping World achieved a market share of over 14% of all new and used RVs registered in North America year-to-date.

Strong Used RV Growth

Used RV sales are expected to continue with double-digit growth, with strong procurement driving record purchases.

SG&A Improvements

SG&A as a percentage of gross profit improved by 276 basis points year-over-year.

Strong Balance Sheet

Camping World has $118 million in cash, $519 million of used inventory net of flooring, $193 million of parts inventory, and $247 million of real estate without a mortgage.

Camping World Holdings (CWH) Earnings, Revenues Date & History

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CWH Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change	Slides	Play Transcript
Nov 04, 2025	2025 (Q3)	0.31 / -	0.13	―	―	―
Jul 29, 2025	2025 (Q2)	0.60 / 0.57	0.38	50.00% (+0.19)	―
Apr 29, 2025	2025 (Q1)	-0.22 / -0.16	-0.4	60.00% (+0.24)	―
Feb 25, 2025	2024 (Q4)	-0.51 / -0.47	-0.47	0.00% (0.00)	―
Oct 28, 2024	2024 (Q3)	0.09 / 0.13	0.39	-66.67% (-0.26)	―
Jul 31, 2024	2024 (Q2)	0.55 / 0.38	0.73	-47.95% (-0.35)	―
May 01, 2024	2024 (Q1)	-0.37 / -0.40	0.14	-385.71% (-0.54)	―
Feb 21, 2024	2023 (Q4)	-0.53 / -0.47	-0.2	-135.00% (-0.27)	―
Nov 01, 2023	2023 (Q3)	0.14 / 0.39	1.07	-63.55% (-0.68)	―
Aug 01, 2023	2023 (Q2)	0.78 / 0.73	2.16	-66.20% (-1.43)	―

The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.

Beat

Missed

CWH Earnings-Related Price Changes

Report Date	Price 1 Day Before	Price 1 Day After	Percentage Change
Jul 29, 2025	$17.64	$14.93	-15.36%
Apr 29, 2025	$13.99	$11.98	-14.37%
Feb 25, 2025	$20.50	$20.45	-0.24%
Oct 28, 2024	$20.99	$22.44	+6.91%

Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.