Camping World Holdings reports revenue of a record $1.7 billion, an increase of $104.6 million, or 6.7 percent, during the first quarter.
Net income was $107.3 million, down from the $147.4 million of the year-ago quarter.
The company said that new and used vehicle inventories were $1.8 billion, an increase of $938.3 million, and credited the increase to strategic growth of its used vehicle business, an additional 14 locations, and the easing of new vehicle supply chain constraints in our core categories experienced in much of the prior year.
“I am pleased with how the year has started, particularly in light of general macroeconomic conditions,” said Marcus Lemonis, chairman and CEO. “We know how to navigate when things change up or down. I’ve been reminded of the value of our nimbleness and I am very pleased with how our team pivots and adjusts to maximize profitability.”
The company said the total units sold during the quarter – new and used – was 29,996, down from the first quarter of 2021 when it sold 31,752 units.
The average price for a new unit sold in Q1 was $43,899, an increase over the average price of $36, 351 a year ago.
For used units, the average sale price was $36,719, compared with $28,516 a year ago.
