- Camping World Holdings, Inc. (CWH, Financial) reported a substantial year-over-year increase in adjusted EBITDA, nearly four times that of the previous year.
- Total revenue for Q1 2025 rose to $1.4 billion, a 3.6% increase despite a 5.3% drop in new vehicle revenue.
- Used vehicle sales saw a notable 30.3% increase, contributing to an overall increase in gross profit and improved profitability.
Camping World Holdings, Inc. (CWH), the largest retailer of recreational vehicles, announced its first-quarter 2025 financial results, highlighting significant improvements across various financial metrics. The company's adjusted EBITDA soared nearly fourfold compared to the previous year, showcasing enhanced profitability and operational efficiency.
The total revenue for the quarter reached $1.4 billion, marking a 3.6% increase. While new vehicle revenue experienced a decline of 5.3%, reaching $621.4 million, used vehicle revenue compensatively surged by 25.1%, totaling $422.4 million. This boost in used vehicle sales, growing by 30.3% to 13,939 units, significantly contributed to an 11.2% increase in combined new and used vehicle sales.
Camping World's CEO, Marcus Lemonis, attributed this success to the company's strategic commitment to selling more units and enhancing profitability. The company reported a gross profit of $429.6 million, up by 6.8%, supported by a 19.2% increase in used vehicle gross profit.
Looking forward, Camping World anticipates further reductions in SG&A expenses due to optimized headcount and footprint, which are expected to bolster profitability. The company remains optimistic about its ability to achieve double-digit growth in used units and maintain steady growth in new units despite ongoing macroeconomic challenges.
