Camping World (CWH) Q2 2026: Guidance Cut as RV Sales Slump
As seen on the 24/7 Wall St. homepage on July 29, 2026.
Camping World missed on both earnings and revenue as new RV sales collapsed 16.4% and input costs exploded faster than pricing, forcing the company to slash full-year guidance to $230-270 million Adjusted EBITDA from $275-325 million. New vehicle gross margins compressed 286 basis points to 10.9% as average costs surged 17.4% against only 13.6% price growth. The company targets $100 million in structural cost cuts by early 2028 but acknowledges volume trends remain soft into July.
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Camping World reported Q2 2026 earnings per share of $0.57, essentially matching the $0.571 consensus estimate but missing on revenue by nearly 3%, with sales coming in at $1.93 billion against expectations of $1.99 billion. The top-line shortfall was driven by a sharp 16.4% collapse in new RV unit sales, a deterioration that management signaled is continuing into July, suggesting the demand weakness is not yet bottoming out.
The margin picture was equally troubling. New vehicle gross margins compressed 286 basis points to 10.9% as average input costs surged 17.4% while the company could only push through 13.6% in price increases — a gap that eroded profitability faster than volume alone would suggest. That cost-price squeeze forced Camping World to cut its full-year Adjusted EBITDA guidance to a range of $230–$270 million, down from the prior outlook of $275–$325 million.
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To stabilize the business, management outlined a target of $100 million in structural cost reductions to be achieved by early 2028. Whether that program can offset continued softness in new RV demand will be the key question for investors in the quarters ahead, particularly given that the recent EPS history shows the company has swung sharply between beats and misses depending on the seasonal cycle and macro backdrop.
Mentioned: CWH