![Camping World Holdings, Inc. [CWH] reports quarterly net loss of $50.8 million](/_next/image?url=https%3A%2F%2F10kinfo-appdata.s3.us-west-2.amazonaws.com%2Fedgar0105%2FCompanyLogos%2FUS%2FCWH.png&w=1200&q=75)
Camping World Holdings, Inc. [CWH] has reported a net loss of $50.8 million for quarter ended Dec 31, 2023.
The Company said in a filing before the Securities and Exchange Commission that its total revenue for the quarter was $1.4 billion
Based in LINCOLNSHIRE, Illinois, Camping World Holdings, Inc. operates in the RETAIL sector.
In the unaudited condensed consolidated statements of operations for Camping World Holdings, Inc., in USD ($), for the quarter ended on March 31, 2024, the total revenue was $1,364.0 million. This represents a decrease in revenue compared to the same period last year, which was $1,486.9 million.
The total costs applicable to revenue, excluding depreciation and amortization, amounted to $961.6 million for the current reporting period. In comparison, the costs for the previous period were $1,045.9 million.
Income from operations for the quarter was $4.2 million in 2024, significantly lower than the $58.6 million recorded in the same period in 2023.
The net loss for the quarter ending on March 31, 2024, was $50.8 million, while in the previous year, there was a net income of $4.9 million.
Basic earnings per share of Class A common stock showed a decrease from $0.07 in the previous period to a loss of $0.50 in the current quarter. Similarly, diluted earnings per share dropped from $0.05 to a loss of $0.51.
The weighted average shares of Class A common stock outstanding increased slightly from 44.5 thousand to 45.0 thousand for basic earnings per share, and from 84.7 thousand to 85.1 thousand for diluted earnings per share.
In the segment analysis, within the RV and Outdoor Retail business, total revenue in the current quarter was $1,318.3 million, down from $1,440.5 million in the same period last year. The costs applicable to revenue in this segment were $946.4 million for the current period compared to $1,029.7 million in the previous year.
In the New vehicles segment, revenue increased from $646.8 million to $656.1 million, while costs applicable to revenue increased slightly from $557.5 million to $565.0 million.
The Used vehicles segment experienced a decrease in revenue from $444.7 million to $337.7 million, with costs applicable to revenue also dropping from $341.9 million to $278.5 million.
The Products, service, and other segment saw a decline in revenue from $207.7 million to $177.9 million, with costs applicable to revenue decreasing from $129.0 million to $101.7 million.
Overall, the financial performance of Camping World Holdings, Inc. reflects a challenging quarter with lower revenue, reduced income from operations, and a significant net loss compared to the same period last year.
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