Camping World Holdings Inc (NYSE:CWH)
$ 23.775 0.215 (0.91%) Market Cap: 1.43 Bil Enterprise Value: 4.96 Bil PE Ratio: 0 PB Ratio: 9.99 GF Score: 74/100
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Q3 2024 Camping World Holdings Inc Earnings Call Transcript

Oct 29, 2024 / 12:30PM GMT
Release Date Price: $22.89 (+6.91%)

Key Points

Positve
  • Camping World Holdings Inc (CWH) achieved record market share and continued strength in its Good Sam business, despite RV industry headwinds.
  • The company reported a 31% increase in new unit sales, driven by strong performance in Class C motorhomes.
  • CWH has a clear path to expand its dealership locations from over 200 to 320, leveraging a favorable M&A environment.
  • The company is focusing on innovative product development, with 36% of new unit sales coming from exclusive contract-manufactured RVs.
  • CWH's online and physical auction platforms are enhancing liquidity in the RV market, providing a competitive edge.
Negative
  • Used unit sales declined by 18%, impacting overall revenue growth.
  • The company faced challenges with interest rates and macroeconomic headwinds, affecting consumer payment sensitivity.
  • SG&A as a percentage of gross profit is higher than desired, with a target to improve by 600 to 700 basis points.
  • CWH experienced operational disruptions due to back-to-back storms affecting 25 to 30 locations.
  • The company acknowledges a need to improve customer retention in service bays, particularly in the second, third, and fourth years of ownership.
Operator

Good morning and welcome to Camping World Holdings conference call to discuss financial results for the Q3 of fiscal year 2024. At this time, all participants are in listen only mode. Later we will conduct a question and answer session and instructions will follow at that time. Please be advised that this call is being recorded and the reproduction of this call in whole or in part is not permitted without written authorization from the company. Joining on the call today are Marcus A. Lemonis, Chairman and Chief Executive Officer, Matthew D. Wagner, President, Thomas E. Kirn, Chief Financial Officer, Lindsey J. Christen, Chief Administrative and Legal Officer, and Brett Andress, Senior Vice President, Investor Relations. I will turn the call over to Ms. Christen to get us started.

Lindsey J. Christen
Camping World Holdings Inc - Chief Administrative and Legal Officer

Thank you, and good morning, everyone. A press release covering the company's third quarter 2024 bfinancial results. It was issued yesterday afternoon and a copy of that press release can be found

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