Camping World (NYSE: CWH) reported Q3 EPS of $1.44, $0.48 better than the analyst estimate of $0.96. Revenue for the quarter came in at $1.68 billion versus the consensus estimate of $1.5 billion.

Third quarter operating highlights and year-over-year comparisons:

• Revenue increased 21.0%, or $290.8 million, to $1.679 billion;
• Gross profit increased 57.5% to $533.1 million and gross margin increased 737 basis points to 31.8%;
• Selling, general and administrative expenses increased 7.8% to $323.0 million and selling, general and administrative expenses as a percentage of gross profit were 60.6% for the third quarter and 65.1% for the nine-month period ended September 30, 2020;
• Net income increased 337.2% to $154.8 million and net income margin was 9.2% for the third quarter and 7.0% for the nine-month period ended September 30, 2020;
• Adjusted EBITDA(1) increased 258.4% to $217.0 million and adjusted EBITDA margin was 12.9% for the third quarter and 11.0% for the nine-month period ended September 30, 2020; and
• Cash and cash equivalents, maintained in our primary cash accounts, was $482.6 million on September 30, 2020 and we also maintained an additional $104.3 million of cash in our floorplan interest offset account on September 30, 2020;
• The total leverage ratio under our senior secured credit facilities was 2.3x at September 30, 2020 and we expect the total leverage ratio to be below 2.0x at December 31, 2020.

Marcus Lemonis, Chairman and CEO of Camping World Holdings, Inc. stated, “I am very pleased with our team’s performance in the third quarter. 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. Our ability to focus on fundamentals including maximizing gross margins and maintaining expense controls was key to our success in the quarter. Our year to date net income was $304 million and Adjusted EBITDA was $474 million.”

For earnings history and earnings-related data on Camping World (CWH) click here.