Camping World Misses Q2 Revenue With $1.93 Billion, Cuts 2026 EBITDA View to $250 Million
Updated
Updated · Yahoo Finance UK · Aug 1
Camping World Misses Q2 Revenue With $1.93 Billion, Cuts 2026 EBITDA View to $250 Million
3 articles · Updated · Yahoo Finance UK · Aug 1
Summary
$1.93 billion in Q2 revenue missed analyst estimates of $1.98 billion as Camping World’s sales fell 2.1% from a year earlier; adjusted EPS matched forecasts at $0.57.
Aggressive inventory clearing drove the shortfall and margin pressure, with adjusted EBITDA dropping to $69.1 million from a $130 million consensus and operating margin narrowing to 4.7% from 6.6%.
Management said it cut new RV units on lots by 17% and reduced inventory aged over a year by more than 60%, while same-store used RV unit sales rose more than 5% and Good Sam gross margin reached 61.8%.
Full-year EBITDA guidance of $250 million at the midpoint came in below the $288.6 million analyst view as the company cited weak new RV demand, higher gas prices and affordability pressure in a volatile market.
Camping World is leaning on $100 million of structural SG&A savings, with about $15 million expected in Q4, to improve operating leverage through what CEO Matt Wagner called the weakest RV retail environment in over 15 years.
With a looming securities fraud lawsuit over past inventory, can Camping World's aggressive new stock-clearing strategy truly save its sinking margins?
As the new RV market hits a 15-year low, will Camping World's pivot to used vehicles and memberships be enough to survive?