Camping World Holdings Inc. reported a net loss for the first quarter, ended March 31, after reporting a profit in the year-ago period.
On a per-share basis, the Lincolnshire, Ill.-based company said it had a loss of 52 cents. Losses, adjusted for one-time gains and costs, came to 67 cents per share.
Revenue of $1.1 billion was up 0.6% from the same quarter a year ago.
Other highlights include:
• Gross profit decreased 1.2% to $298.3 million.
• Income from operations, net loss and diluted loss per share of Class A common stock were $16.9 million, $26.8 million, and $0.52, respectively.
• Adjusted EBITDA was $21.4 million.
• The number of active customers increased 31.4% to 5.1 million and the number of Good Sam Club memberships increased 17.1% to approximately 2.15 million.
Chairman and Chief Executive Officer Marcus Lemonis stated, “We are excited about the progress we have made in our business. Our financial results for the quarter and the directional trends in our business were essentially in line with our full year guidance expectations. Consistent with our forecast, we have seen an improvement in sales trends since mid-March that has continued into April and early May, and our outlook for the full year remains unchanged.”
Results by segment show:
Good Sam Services and Plans Segment
• Revenue increased 4.8% to $47.0 million.
• Gross profit increased 7.7% to $26.2 million and segment gross margin increased 150 basis points to 55.9%.
• Segment income increased 3.1% to $22.4 million.
RV and Outdoor Retail Segment
• Revenue increased 0.4% to $1,017.8 million.
• Same store revenue decreased 11% to $847.9 million across the same store base of 139 locations, of which 121 sold new and/or used RV vehicles
• Segment gross profit decreased 2% to $272.1 million and segment gross margin decreased 64 basis points to 26.7%.
• Segment income decreased 101.5% to a segment loss of $0.4 million.
• Vehicle units sold decreased 5.5% to 23,193 units.
As of March 31, the company operated a total of 226 RV and outdoor retail locations, with 147 of these selling new and/or used RV vehicles.
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