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Camping World has become the first dedicated camping and recreational vehicle (RV) supplies retailer to partner with Instacart for same-day delivery. This collaboration allows Camping World customers to access nearly 1,800 products for same-day delivery through the Instacart app and website, the companies said in a Thursday (Oct. 26) press release.
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Camping World's (CWH) Edmundson RV acquisition will strengthen its leading position in Indiana.
Camping World Holdings' stock has been performing poorly due to disappointing Q2 results and a significant cut in dividends. Potentially $80m of savings from the dividends could be used to acquire dealerships at low multiples, with management describing the pipeline as the most active it's ever been. CWH has a relatively low stock of 2022 models in its inventory compared to its peers, and same-store growth is poised to grow from Q4.
Sales are falling as the RV industry shrinks. The company remained profitable, and inventory levels are low.
In early trading, the day after the company reported disappointing second-quarter earnings, Camping World Holdings, Inc. NYSE: CWH stock was down over 9%. The company missed on both the top and bottom lines, but the real catalyst is the company's announcement that it slashed its quarterly dividend by 80%.
Camping World Holdings, Inc. (NYSE:CWH ) Q2 2023 Earnings Call Transcript August 2, 2023 8:30 AM ET Company Participants Lindsey Christen - Executive Vice President & General Counsel Marcus Lemonis - Chairman and Chief Executive Officer Matthew Wagner - Executive Vice President Conference Call Participants Joe Altobello - Raymond James Daniel Imbro - Stephens, Inc. Noah Zatzkin - KeyBanc Capital Markets John Healy - Northcoast Research Brandon Rolle - D.A. Davidson Tristan Thomas - BMO Capital Markets Alice Wycklendt - Baird Bret Jordan - Jefferies Operator Good morning, and welcome to Camping World Holdings conference call to discuss Financial Results for the Second Quarter of Fiscal Year 2023.
Camping World missed estimates on the top and bottom lines. Revenue is falling after a boom during the pandemic.
Although the revenue and EPS for Camping World (CWH) give a sense of how its business performed in the quarter ended June 2023, it might be worth considering how some key metrics compare with Wall Street estimates and the year-ago numbers.
Camping World (CWH) came out with quarterly earnings of $0.73 per share, missing the Zacks Consensus Estimate of $0.81 per share. This compares to earnings of $2.16 per share a year ago.