Camping World reports strong first quarter

Camping World Holdings Inc. reported first-quarter profit of $3.2 million.

On a per-share basis, the Lincolnshire-based company said it had profit of 8 cents. Earnings, adjusted for nonrecurring costs, were 41 cents per share.

The results met Wall Street expectations.

The recreational vehicle retailer and services provider posted revenue of $1.06 billion in the period, also matching Street forecasts.

Camping World shares have declined 38 percent since the beginning of the year. The stock has dropped 13 percent in the last 12 months.

"We had a very strong first quarter and are pleased with the continued performance of our business," said Chairman and CEO Marcus A. Lemonis.

"For the quarter, total revenue increased 20 percent to a first quarter record $1.1 billion, total gross profit increased 21 percent to a first quarter record $304.8 million," he said. "While the unseasonably cold weather throughout a good portion of the country has likely impacted the early part of the peak selling season, we believe the backdrop across the RV industry remains strong and we continue to plan our business around a mid-single digit increase in same store sales in 2018."