Camping World (NYSE:CWH) news for Monday includes the release of the RV company’s earnings report for the third quarter of 2020 boosting CWH stock. This comes after reporting adjusted earnings per share of $1.58 on revenue of $1.68 billion. Both of these beat out Wall Street’s estimates of 96 cents per share and revenue of $1.5 billion.
Here’s what is else is worth noting about the Camping World earnings news.
- Adjusted per-share earnings are up 1028.6% from 14 cents in the third quarter of 2019.
- Revenue for the quarter is 21% higher compared to $1.39 billion during the same period of the year prior.
- Operating income of $193.09 million is a positive switch year-over-year from an operating loss of $32.31 million.
- The Camping World earnings report also has net income coming in at $154.78 million.
- That’s a massive increase from the company’s net loss of $65.26 million from the same time last year.
Marcus Lemonis, chairman and CEO of Camping World, said the following about the earnings news.
“I am very pleased with our team’s performance in the third quarter. Coming off of an extremely positive second quarter, demand remained strong and we were able to achieve record breaking third quarter results with net income of $155 million and Adjusted EBITDA of $217 million.”
Camping World also provides a guidance update in the earnings news. It now expects Adjusted EBITDA for 2020 to range from $495 million to $515 million. The previous guidance range was $460 million to $490 million.
CWH stock was up 6.9% as of noon Monday.
On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article.
Article printed from InvestorPlace Media, https://investorplace.com/2020/11/camping-world-news-q3-earnings-beat-estimates/.
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