AI Earnings Predictions for Camping World Holdings Inc. (CWH)

EX-99.1

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EX-99.1

Exhibit 99.1

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Camping World Holdings, Inc. Reports Third Quarter 2026 Results

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◾Revenues of $1.58 billion, net loss of $320.1 million includes $286.7 million of goodwill impairment

◾Adjusted EBITDA(1) of $36.0 million includes the unfavorable impact of $12.7 million of F&I chargeback liability adjustments

◾Company accelerates cost actions; the Company’s efficiency program now totals over $150 million of anticipated annualized savings

◾Fourth quarter 2026 SG&A expected to decline by more than $50 million year over year

◾Good Sam Services and Plans gross margin expands 567 basis points to 62.3%

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LINCOLNSHIRE, IL – November 2, 2026 (GLOBE NEWSWIRE) -- Camping World Holdings, Inc. (NYSE: CWH) (“CWH” or, collectively with its subsidiaries, the “Company” or “Camping World”), America’s Largest Recreational Vehicle Dealer, today reported results for the third quarter ended September 30, 2026.

Matthew Wagner, Chief Executive Officer and President of CWH, stated, “Our team did a tremendous amount of work in the third quarter to position the Company for the future. We built on our inventory discipline from the first half and entered the fourth quarter with our lowest mix of prior model year new units in five years. We grew our new vehicle average selling price on a richer mix of fifth wheels and motorized units, sequentially improved used vehicle gross margins and GPU(2), expanded Good Sam Services and Plans gross margins, and reduced our SG&A by $24 million in the quarter.”

Mr. Wagner continued, “As signals emerged over the summer that new vehicle gross margins across the industry were likely to remain under greater pressure than we had anticipated, we moved swiftly to further optimize our cost structure. We accelerated elements of our previously announced $100 million efficiency program and implemented additional reductions amounting to over $50 million of anticipated incremental annualized savings. We enter the fourth quarter with a cost base that we believe is rebuilt for the current market backdrop and a team focused on the variables we can control.”

Balance Sheet and Cash Flow

At the end of the third quarter of 2026, cash and cash equivalents totaled $263.8 million. Total outstanding long-term debt was $1.423 billion. The Company’s Net Debt(1) decreased $97.8 million, or 7.0%, at the end of the third quarter of 2026 compared to the third quarter of 2025. Tom Kirn, Chief Financial Officer of CWH, commented, “Operating cash flow year to date was $488.0 million, we reduced total inventory by $343 million from year end and had floor plan capacity of $823 million. In August, we amended and extended our M&T real estate facility to 2031, and we continue to evaluate alternatives to potentially refinance our Senior Secured Credit Facilities with the goal of increasing our financial flexibility.”

(1)Adjusted EBITDA and Net Debt are non-GAAP measures. For a reconciliation of these non-GAAP measures to the most directly comparable GAAP measures, see the “Non-GAAP Financial Measures” section later in this press release.

(2)Gross profit per unit (“GPU”).

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Outlook

As previously disclosed(3), the Company expects full-year 2026 Adjusted EBITDA to be below the low end of its previously communicated range of $230 million to $270 million. Currently, the Company is not providing additional full-year 2026 guidance and the Company intends to discuss its framework for 2027 in connection with its fourth quarter results.

Mr. Wagner concluded, “The industry is planning for 2027 unit sales to be comparable to 2026, but we are building our plans around more conservative assumptions. With a cost base that we believe is on track to be more than $150 million lighter on an annualized basis by 2028, the largest used RV business in the industry, and a Good Sam business that compounds through the cycle, we believe we are positioned to deliver a step change in our earnings profile when the market turns.”

(3)Disclosed in Item 7.01 of the Company’s Form 8-K furnished to the Securities and Exchange Commission on October 5, 2026.

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Third Quarter Operating Highlights(4)

●Revenue was $1.6 billion for the third quarter, a decrease of $223.2 million, or 12.4%.

●New vehicle revenue was $638.9 million for the third quarter, a decrease of $127.9 million, or 16.7%, and new vehicle unit sales were 15,126 units, a decrease of 5,160 units, or 25.4%. Used vehicle revenue was $518.5 million for the third quarter, a decrease of $70.6 million, or 12.0%, and used vehicle unit sales were 17,176 units, a decrease of 1,518 units, or 8.1%. Combined new and used vehicle unit sales were 32,302, a decrease of 6,678 units, or 17.1%.

●Average selling price of new vehicles sold increased 11.7%, and average selling price of used vehicles sold decreased 4.2%.

●Same store new vehicle unit sales decreased 26.4% for the third quarter and same store used vehicle unit sales decreased 8.6%. Combined same store new and

EX-99.1

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EX-99.1

Exhibit 99.1

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Camping World Holdings, Inc. Reports Second Quarter 2026 Results

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◾Revenues of $1.93 Billion, Net Income of $43.7 Million, and Adjusted EBITDA(1) of $112.1 Million

◾Same-Store Used Vehicle Unit Sales Increased 5% for the Full Quarter, New Unit Share Increased Through May(2)

◾SG&A Reduced by $26.6 Million, Quarter-End Cash Balance of $224.1 Million

◾Full Year 2026 Adjusted EBITDA Outlook Revised to $230 Million to $270 Million

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LINCOLNSHIRE, IL – July 29, 2026 (BUSINESS WIRE) -- Camping World Holdings, Inc. (NYSE: CWH) (“CWH” or, collectively with its subsidiaries, the “Company” or “Camping World”), America’s Largest Recreational Vehicle Dealer, today reported results for the second quarter ended June 30, 2026.

Matthew Wagner, Chief Executive Officer and President of CWH stated, “Earlier this year we emphasized three priorities: growing RV market share, accelerating Good Sam, and reducing SG&A. In the second quarter, our market share(2) exceeded last year’s record levels, Good Sam Services and Plans margin expanded, and SG&A came down $26.6 million. We delivered on our priorities in a difficult market.”

Mr. Wagner continued, “Our progress was more than offset by new RV industry trends that weakened during the peak selling season in May and June. Even so, we moved aged used inventory and prior-model-year new inventory as planned. These factors pressured vehicle gross profit and resulted in second-quarter earnings below our expectations. We are not satisfied with the result.”

Mr. Wagner added, “Building on the $35 million already realized through April, we have identified an incremental $100 million of structural SG&A savings and operating efficiencies, which we expect to be fully annualized by early 2028, with $50 million of run-rate savings expected to be achieved by the end of 2026. These savings come from simplifying how we run the business: better tools for our team, a more consistent experience for our customers, and greater operating leverage.”

Balance Sheet and Cash Flow

At the end of the second quarter of 2026, cash and cash equivalents totaled $224.1 million. Total outstanding long-term debt was $1.405 billion. The Company's net debt(1) decreased $222.3 million, or 14.5%, at the end of the second quarter of 2026 compared to the second quarter of 2025. Tom Kirn, Chief Financial Officer of CWH commented, “Year-to-date we generated $333 million of operating cash flow, strengthened our balance sheet, and improved our inventory aging profile. Our capital allocation framework prioritizes disciplined capital expenditures, retention of working capital within the business, and reduction of our net debt leverage.”

Full Year 2026 Outlook(1)

Mr. Wagner stated, “We are resetting our outlook to reflect what we know today in a highly volatile market, including a revised 2026 retail industry outlook of 290,000 to 310,000 new units, or down 15% year over year at the midpoint. Volume trends remain soft July-to-date, but we enter the second half of the year with healthier inventory and sequentially improving vehicle margins, which we believe gives us a path to year-over-year Adjusted EBITDA growth for the full year."

For full year 2026, the Company is lowering its previous guidance range of Adjusted EBITDA of $275 million to $325 million to a new range of $230 million to $270 million.

(1)Adjusted EBITDA and Net Debt are non-GAAP measures. For a reconciliation of these non-GAAP measures to the most directly comparable GAAP measures, see the “Non-GAAP Financial Measures” section later in this press release. A reconciliation for the Company’s Adjusted EBITDA outlook to the corresponding GAAP measure on a forward-looking basis cannot be provided without unreasonable efforts, as we are unable to provide reconciling information with respect to certain items. However, in 2026 the Company expects equity-based compensation of approximately $16-19 million, depreciation and amortization of approximately $90-100 million, and other interest expense of approximately $110-120 million, each of which is a reconciling item to Net Income.

(2)New unit market share is calculated as total volume of the Company’s new units sold during any specified time period divided by the total number of new vehicle registrations as reported by SSI Data, LLC, d/b/a Statistical Surveys (“SSI”) for that same specified time period. Used vehicle registrations based on SSI Data for the specified time period. New and used vehicle registration data for June 2026 is expected to be released by SSI in August 2026.

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Second Quarter Operating Highlights(3)

●Revenue was $1.9 billion for the second quarter, a decrease of $41.9 million, or 2.1%.

●New vehicle revenue was $869.0 million for the second quarter, a decrease of $46.1 million, or 5.0%, and new vehicle unit sales were 22,312 units, a decrease of 4,384 units, or 16.4%. Used vehicle revenue was $580.3 million for the second quar

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