The largest RV dealership group in the industry continues to swell its retail store ranks.
As the company reported second-quarter financial results Tuesday, Chairman and CEO Marcus Lemonis said the company has opened, acquired or signed letters of intent to buy 30 stores since Jan. 1.
“The unprecedented influx of acquisition opportunities has continued and the pipeline is robust,” Lemonis said. “We plan to capitalize on it as we invest ahead of anticipated revenue growth in 2024 and beyond.”
For the second consecutive quarter, Camping World sold a record number of used RVs. In the three months ending June 30, Camping World sold 17,714 used RVs, up 14.3% from the second quarter of 2022. Used RV revenue totaled a quarterly record $623 million.
“We sold the most used units in our company’s history,” Lemonis said, “with record setting used vehicle gross profit.”
Total revenue fell 12.4% to $1.9 billion. Net income totaled $64.7 million, down 67.3% from the second quarter of 2022.
Camping World’s floorplan interest continues to rise as interest rates remain elevated since the beginning of the year. The company reported $20.7 million in expenses, increasing 136.7% from the second quarter of 2022.
