The rising cost of accommodations, restaurants, and other common road-trip expenses has pushed many travelers to consider recreational vehicles as a way to economize. With fuel costs near their lowest levels in years, even young families are looking more closely at RVs. Camping World Holdings (NYSE:CWH) has made it its mission to give customers of all ages the resources and support they need to make an informed purchase of an RV and all the accessories they need.

Coming into Thursday's third-quarter financial report, Camping World investors had full confidence that the RV retail specialist would keep producing attractive levels of growth. Camping World's results were better than most had expected, and even though the stock didn't perform the way one might have expected, the company's fundamental business looks stronger than ever.

Camping World storefront from the viewpoint of an empty parking lot.

Image source: Camping World Holdings.

Camping World drives faster growth

Camping World Holdings once again managed to boost its growth rate during the third quarter. Sales soared 25% to $1.24 billion, which nearly doubled the growth rate that most of those following the stock had expected to see. Adjusted pro forma net income climbed by more than half to $68.6 million, and the resulting adjusted earnings of $0.77 per share were markedly better than the consensus forecast among investors for $0.63 per share.

Camping World continued to see good performance in its fundamental business metrics. Same-store sales picked up 9.4%, with new vehicle purchases and financing and insurance products leading the way. Parts sales picked up a small amount of ground on a comparable basis, but used vehicle comps declines once again weighed on the company's overall top-line performance.

Again, the appetite for new vehicles from customers was strong. Unit sales of new vehicles climbed by a third to more than 19,100, sending revenue from that segment up more than 30%. The number of used vehicles the company sold rose by 7% to just over 8,550 units. However, average prices decreased, with new vehicles falling to around $37,400 and used vehicles coming in just above $22,000.

Camping World saw mixed performance from its other segments. Sales of consumer services and plans were up just 2%, but finance and insurance revenue soared by 50%.

What's coming down the road for Camping World?

CEO Marcus Lemonis celebrated the results. "We are very pleased with our third-quarter results and the continued strength in the underlying trends across our business," Lemonis said. The CEO attributed the strong performance to Camping World's "unique business and operating model."

Camping World is also optimistic about its future. The company is in a good place to keep gaining market share in the RV market, according to Lemonis. Camping World also wants to extend its reach beyond the recreational vehicle industry to cover a greater portion of the outdoor lifestyle consumer market.

Still, it's interesting to see what moves have happened recently among Camping World's investors. Late last month, the company closed on the sale of 6.7 million shares of stock owned by major investors. Much of the sale came from Crestview Advisors, but a portion came from a company indirectly affiliated with Lemonis and a member of the Camping World board. It's never encouraging to see key insiders make major sales, but Lemonis still has control of Camping World through the company's ownership structure.

Camping World investors didn't react well to the news, and the stock fell 4% on Thursday following the morning announcement. Even so, Camping World's fundamental business appears to be doing well, and long-term investors can look forward to how the company does in the future.

Dan Caplinger has no position in any of the stocks mentioned. The Motley Fool recommends Camping World Holdings. The Motley Fool has a disclosure policy.