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

EX-99.1

2 cwh-20260729xex99d1.htm

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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Camping World Holdings, Inc._February 24, 2026 0001669779false00016697792026-02-242026-02-24 ​ ​

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549 ​

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FORM 8-K

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CURRENT REPORT

PURSUANT TO SECTION 13 OR 15(D) OF THE

SECURITIES EXCHANGE ACT OF 1934

​ Date of Report (Date of earliest event reported): February 24, 2026 ​

​ Camping World Holdings, Inc. (Exact Name of Registrant as Specified in its Charter) ​

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Delaware ​ 001-37908 ​ 81-1737145

(State or Other Jurisdiction of Incorporation) ​ (Commission File Number) ​ (IRS Employer Identification No.)

​ 2 Marriott Dr. Lincolnshire, IL 60069 (Address of principal executive offices) (Zip Code)

Registrant’s telephone number, including area code (847) 808-3000

​ Not applicable (Former Name or Former Address, if Changed Since Last Report) ​

​ Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions: ​ ☐Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425). ​ ☐Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12). ​ ☐Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)). ​ ☐Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)). ​ Securities registered pursuant to Section 12(b) of the Act: ​ ​

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Title of each class Trading Symbol(s) Name of each exchange on which registered

Class A Common Stock, $0.01 par value per share CWH New York Stock Exchange

​ Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter). ​ Emerging growth company ☐ ​ If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐ ​ ​ ​

Item 2.02. Results of Operations and Financial Condition. On February 24, 2026, Camping World Holdings, Inc. (the “Company”) announced its financial results for the three months and year ended December 31, 2025. The full text of the press release issued in connection with the announcement is furnished as Exhibit 99.1 to this Current Report on Form 8-K. The information in this Item 2.02 of this Current Report on Form 8-K (including Exhibit 99.1) shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”) or otherwise subject to the liabilities of that section, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as expressly set forth by specific reference in such a filing. ​ Item 9.01 Financial Statements and Exhibits. (d) Exhibits Exhibit 99.1 relating to Item 2.02 shall be deemed to be furnished, and not filed: Exhibit No. Description Exhibit 99.1 Press Release dated February 24, 2026

Exhibit 104 Cover Page Interactive Data File - the cover page XBRL tags are embedded within the Inline XBRL document

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SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. ​

CAMPING WORLD HOLDINGS, INC.

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​ By: /s/ Thomas E. Kirn

​ Name: Thomas E. Kirn

​ Title: Chief Financial Officer

​ Date: February 24, 2026 ​ ​

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