By Chuck Woodbury
Camping World announced its fourth quarter and 2018 yearly earnings on Friday. A day earlier it conducted a conference call with its investors. CEO Marcus Lemonis and other Camping World Holdings, Inc./Good Sam executives provided updates on the business. Read the complete earnings report and conference call if you wish.
Here is some of what I found interesting.
Camping World Holdings Inc. reported that revenue increased 10.6% to $982.4 million during its fourth quarter, ended Dec. 31, while the company incurred a net loss of $43 million during the period.
According to Lemonis, the company sold 104,296 RVs in 2018, which was up from 97,063 the year before. Think about that — more than 100,000 of the approximately 500,000 RVs sold that year were sold by Camping World — for the non-mathematicians in the crowd that’s one out of five RVs.
The average selling price of a new RV was $32,542. Gross profit per vehicle sold including finance and insurance was $8,487.
The company added 78,189 Good Sam Club members in the fourth quarter 2018 and membership increased 16.7% year over year to an all-time-high of 2.1 million members.
At Dec. 31, 2018, Camping World Holdings operated 212 retail locations including 128 Camping World RV product, parts and accessory stores; 60 Gander Outdoors stores; and 24 other specialty stores.
Camping World’s stock Friday closed at $12.92, which was down almost 70% from this time last year.