One of the most surprising trends lately has been the resurgence in interest in recreational vehicles. Younger travelers are seeing the value proposition of building in transportation and accommodations in the same unit, and the RV lifestyle is one that industry retail-giant Camping World Holdings (CWH -1.96%) has tapped into quite well. Investors have also gravitated to the profit potential in the newly public stock, which has soared since its IPO.

Coming into Thursday's second-quarter financial report, Camping World investors wanted to see the ongoing positive effects of industry strength, and the company more than delivered on that front with substantial growth in sales and earnings. Let's look more closely at Camping World Holdings and what its latest results say about the RV retailer's future.

Camping World retail location.

Image source: Camping World Holdings.

Camping World stays off the brakes

Camping World Holdings saw its growth accelerate during the second quarter. Sales jumped more than 20%, to $1.28 billion, which was more than $100 million higher than most investors had expected to see from the company. Adjusted pro forma net income was up more than 40%, to $77.7 million, and that resulted in adjusted earnings of $0.91 per share, easily topping the consensus forecast for $0.68 per share.

Taking a closer look at Camping World's numbers, the RV retailer sustained its good fundamental performance. Same-store sales growth accelerated to 10.6%, with the company pointing especially to sales of new towable RV units in supporting the gains. A rise in finance and insurance revenue also contributed to performance, although used vehicle unit sales held back comps growth.

New vehicle-units sold soared by nearly two-fifths, to 21,900, helping to offset a 4.5% decline in the average selling price of new RVs, to just under $34,800. A higher sales mix of lower-priced towable RV units was responsible for the drop in average sale price, but strong demand for new RVs came, in part, from shortages of high-quality used vehicles.

That shortage showed up in Camping World's used-vehicle results. Units sold fell 8%, to just under 9,100, and average sale prices fell 1%, to $21,660. The reduced inventory was primarily responsible for the poor performance, with Camping World explaining that fewer trade-ins were accepted from those buying new RVs.

Camping World's gains from its ancillary business slowed down from last quarter. The company's consumer services and plans business saw revenue rise 6%, with higher sales of vehicle insurance and travel-and-roadside assistance programs.

Can Camping World keep picking up speed?

CEO Marcus Lemonis was quite happy with the way that the company is doing. "We delivered exceptional record-breaking results in the second quarter," Lemonis said, and "we believe these results clearly demonstrate the power and leverage of our unique operating model." In particular, the CEO sees the potential to expand beyond a focus on RVs to incorporate boating and other outdoor enthusiasts with a wider range of products and services for those pursuing an outdoor lifestyle.

Camping World's recent acquisition activity only highlights the potential for growth for the company. Within the past few weeks, Camping World has acquired RV dealerships in Michigan and Texas, as well as retailer TheHouse.com, which specializes in bikes, sailboards, skateboards, wakeboards, snowboards, and other outdoor gear. Analysts are also excited about the company's prospects, with one prominent Wall Street company pointing to Camping World's decision to purchase bankrupt sporting-goods chain Gander Mountain as having the potential for boosting earnings further from their current levels.

Camping World investors were happy with the results, and the stock rose nearly 5% in after-hours trading following the announcement. As long as new customers gravitate toward recreational vehicles and other outdoor pursuits, Camping World has the ability to keep growing its market share and serving an expanding base of consumers effectively.