The United States’ largest recreational vehicle dealer, Camping World Holdings, has published the financial results for its second quarter of 2026.

During the period, the company reported revenue of US$ 1.9 billion, a decrease of $41.9 million, or 2.1 per cent. Gross profit was $538.4 million, a decrease of $53.9 million, or 9.1 per cent, and total gross margin was 27.8 per cent, a decrease of 214 basis points.

Net income was $43.7 million for the second quarter of 2026, a decrease of $13.8 million, or 24.0 per cent. Adjusted EBITDA was $112.1 million, a decrease of $30.2 million, or 21.2 per cent.

New vehicle revenue was $869.0 million for the second quarter, a decrease of $46.1 million, or 5.0 per cent, and new vehicle unit sales were 22,312 units, a decrease of 4,384 units, or 16.4 per cent. Used vehicle revenue was $580.3 million for the second quarter, an increase of $8.1 million, or 1.4 per cent, and used vehicle unit sales were 19,882 units, an increase of 976 units, or 5.2 per cent. Combined new and used vehicle unit sales were 42,194, a decrease of 3,408 units, or 7.5 per cent.

Matthew Wangner, Camping World Holdings’ CEO, said: “Earlier this year we emphasised three priorities: growing RV market share, accelerating Good Sam, and reducing SG&A. In the second quarter, our market share(2) exceeded last year’s record levels, Good Sam Services and Plans margin expanded, and SG&A came down $26.6 million. We delivered on our priorities in a difficult market.

“Our progress was more than offset by new RV industry trends that weakened during the peak selling season in May and June. Even so, we moved aged used inventory and prior-model-year new inventory as planned. These factors pressured vehicle gross profit and resulted in second-quarter earnings below our expectations. We are not satisfied with the result.

“Building on the $35 million already realised through April, we have identified an incremental $100 million of structural SG&A savings and operating efficiencies, which we expect to be fully annualised by early 2028, with $50 million of run-rate savings expected to be achieved by the end of 2026. These savings come from simplifying how we run the business: better tools for our team, a more consistent experience for our customers, and greater operating leverage.”

See the full report here.

Photo: Camping World