10-K · February 27, 2026
Camping World positions itself as America’s largest RV retailer with a national network (196 dealerships/service centers) and an integrated Good Sam membership and services business. For year ended December 31, 2025 the…
Earnings analysis · 10-Q
CWH earnings analysis
Filed April 30, 2026 · Our reading of the company's report
The latest report
Camping World Holdings, Inc. reported a Q1 2026 revenue of $1.35 billion, down 4.2% year-over-year, and an EPS loss of -$0.21, improving from prior estimates of -$0.31. Segment performance varied, with Good Sam Services…
Read full summary
Camping World Holdings, Inc. reported a Q1 2026 revenue of $1.35 billion, down 4.2% year-over-year, and an EPS loss of -$0.21, improving from prior estimates of -$0.31. Segment performance varied, with Good Sam Services and Plans showing growth while RV and Outdoor Retail saw revenue declines. The company's cash position and debt levels reflect significant operational challenges, though management maintains a focus on strategic acquisitions and maintaining liquidity.
Gross and operating margin
How much of each revenue dollar the business keeps.
One point per quarterly or annual filing. Both margins are shares of that report's revenue.
From revenue to operating profit
Where each $100 of revenue went in this report.
Cost of sales, operating expenses, and what remained. Figures are rounded to whole dollars.
How we read each report
Our analysis across the last few reports.
Our model's reading of each filing, not the share price or the market's reaction. Annual and quarterly reports each occupy one position.
Reported figures
- Earnings per share
- $-0.21
- Segment
- Good Sam Services and Plans
- Segment
- RV and Outdoor Retail
What stood out
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Revenue Decline
Total revenue decreased to $1.35 billion, down 4.2% from $1.41 billion in Q1 2025.
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Improvement in EPS
Reported EPS loss improved to -$0.21, better than the expected -$0.31.
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Good Sam Services Growth
Good Sam Services revenue increased to $48.5 million, up 4.9% from $46.2 million.
-
Cash Position Maintained
Ending cash balance was $199.8 million, slightly down from $215 million.
-
Debt Levels Persistent
Long-term debt was $1.39 billion as of March 31, 2026, slightly down from $1.41 billion.
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Segment Adjusted EBITDA
Total segment adjusted EBITDA was $30.6 million in Q1 2026, compared to $34.1 million in Q1 2025.
What to watch
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Revenue Pressure from Competition
Facing increased competition and pricing pressures, gross margins declined in new and used vehicles.
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Legal Liabilities
Ongoing litigation could impose financial burdens and reputational damage.
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Macro economic Headwinds
Geopolitical tensions and inflation could adversely impact consumer spending on RVs.
Management's outlook
Outlook deferred to earnings press release / call.
Earlier filings 4
10-Q · October 30, 2025
Camping World reported Q3 revenue of $1,806,118,000, up $81,130,000 (4.7%) versus Q3 2024, with operating margin improving to 4.4% from 3.7%. GAAP diluted EPS swung to a loss of $(0.64) from $0.09 in the prior-year…
10-Q · October 29, 2024
Camping World reported Q3 revenue of $1,724,988,000, a slight decline of $4,625,000 (-0.3%) versus Q3 2023, while diluted EPS fell to $0.09 from $0.32 a year ago. Gross margin compressed to 28.9% (down 134 bps) and…
10-Q · August 1, 2024
Camping World reported Q2 revenue of $1,806,505,000 (down 5.0% YoY) and diluted EPS of $0.22 (down from $0.64 YoY). Gross margin improved modestly to 30.3% from 30.0% (+27 bps) but operating income fell to $95,382,000…
This is our reading of a public filing, not the filing itself. Analysis can contain errors; check the source document for full context.