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Camping World Holdings (CWH) earnings and revenue breakdown
Latest: Q3 2026 · 10-Q filed Nov 5, 2026 · Camping World Holdings (CWH) Q3 2026 earnings results →
Q3 2026 Revenue down 12% year over year to $1.6B · 20¢ of every $1 of revenue lost · operating margin -17.3%
Camping World Holdings made $1.6B in Q3 2026 (-12% Y/Y): RV and Outdoor Retail $1.5B, Good Sam Services and Plans $50.1M. Operating margin -17.3%, net loss $320M. See where every dollar goes — costs, profit and cash — as a Sankey from the 10-Q filed Nov 5, 2026.
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What changed this quarter
Revenue was $1.6B in Q3 2026, down 12% year over year and down 18% from the previous quarter. RV and Outdoor Retail was the largest line at 97% of revenue. RV and Outdoor Retail lost $0.22B year over year (down 13%), 99% of the total change.
Operating costs exceeded revenue by $0.27B, an operating margin of -17.3%. Total costs grew 8% against a revenue fall of 12%. The fastest-growing cost line was Other operating costs (+1094%). The quarter ended with a net loss of $0.32B, after a profit of $0.04B the previous quarter. Minority interests bore $0.12B of it: to shareholders the quarter was a loss of $0.20B.
Operating cash flow was $0.15B (up 11% year over year). Non-cash charges added back $0.03B of depreciation and amortization and $3.6M of share-based compensation. Working capital and other items added $0.44B. Capital expenditures of $0.03B left free cash flow of $0.13B.
Quarterly history
| Quarter | Form | Filed | Revenue | Y/Y | Op. margin | Net earnings | Op. cash flow |
|---|---|---|---|---|---|---|---|
| Q3 2026 | 10-Q | Nov 5, 2026 | $1.6B | -12% | -17.3% | −$320M | $155M |
| Q2 2026 | 10-Q | Jul 31, 2026 | $1.9B | -2% | 4.7% | $26.9M | $399M |
| Q1 2026 | 10-Q | Apr 30, 2026 | $1.4B | -4% | 1.6% | −$26.7M | −$65.6M |
| Q4 2025 | 10-K | Feb 27, 2026 | $1.2B | -3% | -4.3% | −$109M | −$227M |
| Q3 2025 | 10-Q | Oct 30, 2025 | $1.8B | +5% | 4.4% | −$29.4M | $140M |
| Q2 2025 | 10-Q | Jul 30, 2025 | $2.0B | +9% | 6.6% | $30.2M | $188M |
| Q1 2025 | 10-Q | May 1, 2025 | $1.4B | +4% | 1.5% | −$24.7M | −$232M |
Charts
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🔄Rotation against the market and its industry (RRG)interactive
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📈Investments: gains and what it boughtinteractive
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Customers and suppliers named in filings
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About Camping World Holdings
Camping World Holdings, Inc. (together with its subsidiaries) is America’s largest retailer of RVs and related products and services. Through our Camping World and Good Sam brands, our vision is to make it easy for everyone to enjoy RVing and empower our customers’ joy of travel. We strive to build long-term value for our customers, employees, and stockholders by combining a comprehensive offering of RV products and services with a national network of RV dealerships, service centers and customer support centers. We also believe that our Good Sam organization and family of highly specialized services and plans, including roadside assistance, protection plans and insurance, uniquely enable us to protect our customers on the road ahead. On December 31, 2025, we operated a total of 196 store locations, with all locations selling and/or servicing RVs.
In its own words, from its 10-K, filed Feb 27, 2026.
Camping World Holdings against its Retail-Auto Dealers & Gasoline Stations peers
The largest companies of the same SEC industry, each at its latest quarter. Revenue growth: -12% against the peers' median +4%. Operating margin: -17.3% against the peers' median 3.8%.
| Company | Quarter | Revenue | Y/Y | Op. margin |
|---|---|---|---|---|
| CWH Camping World Holdings | Q3 2026 | $1.6B | -12% | -17.3% |
| LAD Lithia Motors | Q3 2026 | $9.9B | +3% | 4.2% |
| PAG Penske Automotive Group | Q3 2026 | $8.4B | +4% | 3.6% |
| CVNA Carvana | Q3 2026 | $8.0B | +42% | 8.9% |
| KMX CarMax | Q2 FY27 | $7.9B | +20% | 2.8% |
| AN Autonation | Q3 2026 | $7.0B | -0.4% | 4.5% |
| MUSA Murphy USA | Q3 2026 | $6.9B | +35% | 3.8% |
| CASY Caseys General Stores | Q1 FY27 | $5.7B | +24% | 6.1% |
| GPI Group 1 Automotive | Q3 2026 | $5.4B | -7% | 3.7% |
Source: Camping World Holdings 10-Q on SEC EDGAR · CIK 1669779 · Retail-Auto Dealers & Gasoline Stations
Guidance and outlook
13F: who owns CWH and who is buying
More on CWH
- How Camping World Holdings makes money: revenue by segment
- Camping World Holdings next earnings date and what analysts expect
- Camping World Holdings stock forecast, price target and fair value
- Who owns Camping World Holdings stock: holders, funds and Congress trades
- Camping World Holdings guidance and outlook
- Is Camping World Holdings a takeover target? LBO and rumors
- Camping World Holdings recalls, complaints and regulation
History
Every quarter: Q3 2026 results · Q2 2026 results · Q1 2026 results · Q4 2025 results · Q3 2025 results · Q2 2025 results · Q1 2025 results