Camping World Q2: Net income, adjusted EBITDA up 30% YoY, record volume of 45,000 units.

• Camping World Q2 2025 results show 30% growth in net income and adjusted EBITDA • Strong cost execution and record quarterly volume of over 45,000 units drive growth • Momentum continues through July with sustained financial performance • CEO Marcus Lemonis attributes success to volume, margin performance, and cost controls

Camping World Holdings, Inc. (NYSE: CWH), the world’s largest recreational vehicle (RV) dealer, reported its second quarter 2025 results, showcasing robust financial performance and significant growth. The company’s net income surged by 30%, while adjusted EBITDA also experienced a substantial increase [1].

Key Highlights:

- Revenue Growth: Total revenue reached $2.0 billion for the second quarter, marking a 9.4% increase compared to the previous quarter. New vehicle revenue grew by 8.0% to $915.1 million, while used vehicle revenue climbed by 19.0% to $572.3 million [1].

- Unit Sales: Combined new and used vehicle unit sales totaled 45,602 units, representing a 20.7% increase. New vehicle unit sales increased by 20.9%, while used vehicle unit sales rose by 20.4% [1].

- Margin Performance: Despite a slight decrease in new vehicle gross margin due to a 10.6% drop in average selling price, the used vehicle gross margin improved by 149 basis points to 20.5%. Gross profit increased by 8.1% to $592.3 million, driven largely by higher used vehicle gross profit and increased finance and insurance (F&I) gross profit [1].

- Cost Management: The company achieved significant cost savings, reducing headcount by over 900 and consolidating 16 locations. This strategic restructuring resulted in improved per-rooftop productivity and contributed to the overall financial performance [1].

- Momentum and Future Outlook: The company’s same store unit growth trends for July 2025 indicate high-teens percent growth on used vehicles and high-singles percent growth on new vehicles compared to the prior year. CEO Marcus Lemonis expressed confidence in the company’s mid-cycle earnings power scenario, expecting over $500 million of adjusted EBITDA based on the current store count [1].

Conclusion:

Camping World Holdings' Q2 2025 results demonstrate strong financial performance, driven by record quarterly volume, effective cost management, and robust margin performance. The company's strategic initiatives, including inventory management and cost controls, have positioned it for continued growth and expansion. Investors can expect sustained financial performance, as the company enters the second half of the year with a solid foundation [1].

References:

[1] https://www.stocktitan.net/news/CWH/camping-world-holdings-inc-reports-second-quarter-2025-results-grows-rcbo6we40id0.html