Camping World Holdings, Inc. announced its board of directors authorized an increase in the company’s stock repurchase program.
The increase will enable purchasing an additional $125 million of its Class A common stock, effective immediately.
The board increased the repurchase program originally approved Oct. 30, 2020. The result creates about $156,808,000 remaining available for such repurchases
During the six months that ended June 30, 2021, Camping World repurchased $45.5 million. The board extended the repurchase authorization expiration to Aug. 31, 2023.
“The approval of the increased stock repurchase program reflects the confidence our senior management team, board of directors, and I have in the company’s future performance and ability to generate strong cash flow and create long-term value,” said Marcus Lemonis, CEO and chairman of Camping World.
Repurchases under the program may be made in the open market, in privately negotiated transactions or otherwise, with the amount and timing of repurchases to be determined at the company’s discretion, depending on market conditions and corporate needs.
This program does not obligate the company to acquire any particular amount of Class A common stock and the program may be extended, modified, suspended or discontinued at any time at the board’s discretion.