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Investing.com — We couldn’t fly, so we bought recreational vehicles instead because taking a break is not negotiable.
Camping World Holdings (NYSE:CWH) is up 15% after reporting record-breaking third quarter results that beat analyst estimates. Earnings per share of $1.58 bested the expected $1.08 on sales of $1.68 billion, higher than the estimated $1.5 billion. The company also boosted adjusted earnings before interest, taxes, depreciation and amortization guidance to between $495 million and $515 million for 2020 from between $460 million and $490 million.
“Coming off of an extremely positive second quarter, demand remained strong and we were able to achieve record breaking third quarter results with net income of $155 million and Adjusted EBITDA of $217 million,” said Chief Executive Officer Marcus Lemonis.
The company’s Board of Directors also authorized a stock repurchase program for up to $100 million of the Company’s Class A common stock, expiring on October 31, 2022.
Shares of Camping World have about doubled in 2020.
