GET DAILY SIGNALSCamping World Holdings (CWH) Reports Q3 Miss as Revenue Declines 12.4%
Key Takeaways
- Revenue came in at $1.58 billion, down 12.4% year over year and below the consensus estimate of roughly $1.65 billion.
- Adjusted earnings per share (EPS) of -$0.19 missed analyst expectations of about $0.14 to $0.15 by a wide margin.
- Net loss widened to $320.1 million, driven largely by a non-cash goodwill impairment charge of $286.7 million tied to the RV and Outdoor Retail segment.
- Adjusted EBITDA (earnings before interest, taxes, depreciation, and amortization) fell 62.4% to $36.0 million, pressured by a $12.7 million finance and insurance (F&I) chargeback adjustment.
- Combined new and used recreational vehicle (RV) unit sales declined 17.1%, including a 25.4% drop in new vehicle unit sales.
- Management now expects full-year 2026 Adjusted EBITDA below the low end of its prior $230 million to $270 million range and has pulled additional full-year guidance.
- For more detail on the ticker's Major News, Today's Price Move, Price Targets, and Forecast, explore the dedicated pages for CWH.
Earnings Context and Why These Results Stand Out
As America’s largest RV retailer, Camping World Holdings serves as a useful indicator for discretionary consumer spending on larger recreational purchases. The third-quarter numbers arrived against a backdrop of higher interest rates, elevated fuel costs, and softer consumer confidence, all of which have dampened RV demand and weighed on new-vehicle pricing. I think the report is worth examining because it shows how effectively the company is protecting margins and controlling inventory as conditions cool. It also provides a test of management’s cost-efficiency efforts. With the stock already lower over the past year, many investors were looking for evidence that the earnings path had begun to stabilize. I also checked this using Tickeron’s AI Screener to see how the stock compares to others in the industry.
Reported Results
Camping World Holdings reported third-quarter 2026 revenue of $1.58 billion, a 12.4% decline from $1.81 billion a year earlier and below the consensus estimate of about $1.65 billion. New-vehicle revenue fell 16.7% to $638.9 million, while used-vehicle revenue declined 12.0% to $518.5 million. Combined new and used unit sales dropped 17.1%, with new-vehicle unit sales down 25.4%.
Adjusted diluted EPS came in at -$0.19, well short of the roughly $0.14 to $0.15 analysts had expected. On a GAAP basis, diluted loss per share was $3.09, reflecting the non-cash goodwill impairment of $286.7 million. Adjusted EBITDA fell 62.4% to $36.0 million. The quarter also included a $12.7 million unfavorable adjustment to finance and insurance chargeback liabilities.
A few areas showed resilience. Good Sam Services and Plans gross margin expanded 567 basis points to 62.3%, and Good Sam Club revenue rose 75.6%. Management noted progress on inventory discipline and reduced SG&A expenses by $23.9 million. On guidance, the company indicated full-year 2026 Adjusted EBITDA will land below the low end of its prior $230 million to $270 million range and is not providing additional full-year figures.
Market Reaction and Investor Sentiment
Shares fell sharply in after-hours trading following the release, dropping roughly 11% to around $4.71 to $4.76. The reaction reflected the revenue and earnings miss, the sizable goodwill write-down, and the withdrawal of full-year guidance. Sentiment heading into the print was already cautious given the challenging demand environment for RVs, and the results reinforced concerns about weakening new-vehicle volumes and margin pressure. The large non-cash impairment also signaled management’s reduced view of the RV and Outdoor Retail segment’s fair value.
Forward Outlook and Factors Worth Watching
Management is placing greater emphasis on cost discipline. The efficiency program has been accelerated and now totals more than $150 million of anticipated annualized savings, with fourth-quarter 2026 SG&A expected to decline by more than $50 million year over year. Investors will be monitoring whether these savings are achieved without affecting customer experience.
Demand and pricing remain central questions. New-vehicle unit sales declined sharply, and new-vehicle gross margin compressed 252 basis points to 10.2%. The company entered the fourth quarter with its lowest mix of prior-model-year new units in five years, which could support pricing, though industry conditions remain soft. Management noted the industry is planning for 2027 unit sales comparable to 2026, while Camping World is building its plans around more conservative assumptions.
Balance sheet and liquidity metrics also merit attention. Operating cash flow year to date reached $488.0 million, inventory was reduced by $343 million from year end, and net debt declined 7.0% year over year. The company continues to evaluate refinancing its senior secured credit facilities. The fourth-quarter report is expected to include a framework for 2027, which should provide more clarity on the path to an earnings recovery.
Using AI Tools to Refine Analysis
One thing that stands out when reviewing results like these is the value of efficient screening tools. I often rely on Tickeron’s AI Screener to quickly compare CWH against peers in the consumer discretionary space and to spot emerging patterns across the sector. It helps surface comparable names and technical signals without spending hours on manual work.
Disclaimer
The information on this webpage is provided for general informational and educational purposes only and is not intended as investment advice, a recommendation to purchase or sell any security, or an offer or solicitation related to investments. It does not consider your personal financial situation, goals, or risk profile, and all investing carries inherent risks, including the possibility of losing your entire investment. For more details, please review our full disclaimer.
Contributor
Sergey Savastiouk, Ph.D. has a degree in Applied Mathematics from Moscow University and has extensive experience as an entrepreneur, investor, manager, and mathematician. His professional expertise is in applied mathematics, mathematical modeling, system and pattern analysis, and software and hardware system integration. He has served as the CEO of several hi-tech start-up companies and nonprofit organizations, which has given him proven capabilities in business strategy for high-tech start-up companies, market assessment, company formation, team building, product development, marketing, and sales. He has published numerous articles in journals and magazines on related fields. As a retail investor, he spent 15 years developing his proprietary trading and quantitative algorithms (now Tickeron’s A.I.), which brought him significant returns in trading the stock market. His current work and goal in founding Tickeron is to bring professional, sophisticated stock market analysis capabilities to retail investors via an easy-to-use interface.
CWH in -3.50% downward trend, declining for three consecutive days on October 19, 2026
Moving lower for three straight days is viewed as a bearish sign. Keep an eye on this stock for future declines. Considering data from situations where CWH declined for three days, in 279 of 330 cases, the price declined further within the following month. The odds of a continued downward trend are 85%.
Technical Analysis (Indicators)
Bearish Trend Analysis
The Stochastic Oscillator has been in the overbought zone for 1 day. Expect a price pull-back in the near future.
CWH broke above its upper Bollinger Band on October 29, 2026. This could be a sign that the stock is set to drop as the stock moves back below the upper band and toward the middle band. You may want to consider selling the stock or exploring put options.
The Aroon Indicator for CWH entered a downward trend on October 14, 2026. This could indicate a strong downward move is ahead for the stock. Traders may want to consider selling the stock or buying put options.
Bullish Trend Analysis
The RSI Oscillator points to a transition from a downward trend to an upward trend -- in cases where CWH's RSI Oscillator exited the oversold zone, 30 of 37 resulted in an increase in price. Tickeron's analysis proposes that the odds of a continued upward trend are 81%.
The Momentum Indicator moved above the 0 level on October 27, 2026. You may want to consider a long position or call options on CWH as a result. In 64 of 83 past instances where the momentum indicator moved above 0, the stock continued to climb. The odds of a continued upward trend are 77%.
The Moving Average Convergence Divergence (MACD) for CWH just turned positive on October 16, 2026. Looking at past instances where CWH's MACD turned positive, the stock continued to rise in 31 of 44 cases over the following month. The odds of a continued upward trend are 70%.
Following a +12.08% 3-day Advance, the price is estimated to grow further. Considering data from situations where CWH advanced for three days, in 208 of 270 cases, the price rose further within the following month. The odds of a continued upward trend are 77%.
Fundamental Analysis (Ratings)
The Tickeron Seasonality Score of 24 (best 1 - 100 worst) indicates that the company is slightly undervalued in the industry. The Tickeron Seasonality score describes the variance of predictable price changes around the same period every calendar year. These changes can be tied to a specific month, quarter, holiday or vacation period, as well as a meteorological or growing season.
The Tickeron PE Growth Rating for this company is 25 (best 1 - 100 worst), pointing to outstanding earnings growth. The PE Growth rating is based on a comparative analysis of stock PE ratio increase over the last 12 months compared against S&P 500 index constituents.
The Tickeron Valuation Rating of 29 (best 1 - 100 worst) indicates that the company is slightly undervalued in the industry. This rating compares market capitalization estimated by our proprietary formula with the current market capitalization. This rating is based on the following metrics, as compared to industry averages: P/B Ratio (1.299) is normal, around the industry mean (1.454). P/E Ratio (-3.205) is within average values for comparable stocks, (11.731). Projected Growth (PEG Ratio) (0.020) is also within normal values, averaging (0.695). CWH's Dividend Yield (0.100) is considerably higher than the industry average of (0.011). P/S Ratio (0.056) is also within normal values, averaging (0.919).
The Tickeron Price Growth Rating for this company is 76 (best 1 - 100 worst), indicating slightly worse than average price growth. CWH’s price grows at a lower rate over the last 12 months as compared to S&P 500 index constituents.
The Tickeron SMR rating for this company is 97 (best 1 - 100 worst), indicating weak sales and an unprofitable business model. SMR (Sales, Margin, Return on Equity) rating is based on comparative analysis of weighted Sales, Income Margin and Return on Equity values compared against S&P 500 index constituents. The weighted SMR value is a proprietary formula developed by Tickeron and represents an overall profitability measure for a stock.
The Tickeron Profit vs. Risk Rating rating for this company is 100 (best 1 - 100 worst), indicating that the returns do not compensate for the risks. CWH’s unstable profits reported over time resulted in significant Drawdowns within these last five years. A stable profit reduces stock drawdown and volatility. The average Profit vs. Risk Rating rating for the industry is 84, placing this stock worse than average.
Industry description
Market Cap
High and low price notable news
Volume
Fundamental Analysis Ratings
The average fundamental analysis ratings, where 1 is best and 100 is worst, are as follows
Advertisement
General Information
a company which engages in sale and service of new and used recreational vehicles
Industry AutomotiveAftermarket
Advertisement