Shares of Camping World Holdings (CWH 6.36%) rose 10.3% in November, according to data from S&P Global Market Intelligence, after the outdoor and camping retailer announced strong third-quarter results.
More specifically, Camping World's revenue climbed 25% year over year to $1.24 billion, and translated to 53.4% growth in adjusted pro forma net income to $68.6 million. Adjusted pro forma net income per share climbed 44.7% to $0.77. For perspective, analysts' consensus estimates predicted adjusted earnings of only $0.63 per share on revenue of $1.20 billion.
CEO Marcus Lemonis stated that the company was "very pleased" with its results, which were driven by "the continued strength in the underlying trends across our business."
Camping World saw new vehicle units sold increase by roughly a third, to 19,107 units, driven by strong consumer demand. Used vehicle units sold also rose 7.2%, to 8,557 units, driven primarily by contributions from new Camping World locations.
Meanwhile, same-store sales climbed 9.4% at Camping World's comps base of 115 retail locations, as a 7.9% decline in used vehicle same-store sales was more than offset by a combination of 14.5% new vehicle same-store sales growth, 30.5% growth in finance and insurance sales, and a slight increase in parts, services, and other sales.
Looking ahead, Camping World also increased its full-year 2017 outlook to call for revenue of $4.2 billion (up from $4.05 billion previously), and adjusted EBITDA of $384 million (up from $365 million to $370 million before).
All in all, there was little not to like about this strong report from Camping World Holdings, and it's no surprise to see the stock trading near its 52-week high as a result.