Filing Flows › Camping World Holdings (CWH) › Q2 2025
Camping World Holdings (CWH) Q2 2025 earnings results (second quarter 2025)
10-Q filed Jul 30, 2025
Camping World Holdings (CWH) reported revenue of $2.0B for the second quarter 2025 (Q2 2025), +9% from a year earlier and +40% from the quarter before. Operating margin was 6.6%, net earnings $30.2M (1.5% of revenue).
Camping World Holdings, Q2 2025: revenue $2.0B (+9% year over year), operating margin 6.6%, net earnings $30.2M, operating cash flow $188M. The chart follows the revenue to costs, profit and cash.
| Q2 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $2.0B | +40% | +9% |
| Operating profit | $130M | +525% | +37% |
| Net earnings | $30.2M | — | +209% |
| Operating cash flow | $188M | — | +23% |
| Free cash flow | $164M | — | +8% |
What changed
Revenue was $2.0B in Q2 2025, up 9% year over year and up 40% from the previous quarter. RV and Outdoor Retail was the largest line at 97% of revenue. RV and Outdoor Retail added $0.17B year over year (up 10%), 99% of the total change.
Operating profit was $0.13B, a 6.6% margin (up 1.3 points year over year). Of the extra revenue versus a year earlier, 21% reached operating profit, above the 5% margin then. Total costs grew 8% against revenue growth of 9%. Net earnings were $0.03B, up 209% year over year. The effective tax rate was 24.2%.
Operating cash flow was $0.19B (up 23% year over year), 327% of net income including minority interests. Non-cash charges added back $0.02B of depreciation and amortization and $0.01B of share-based compensation. Working capital and other items added $0.10B. Capital expenditures of $0.02B left free cash flow of $0.16B.
Questions
What was Camping World Holdings' revenue in the second quarter 2025?
Camping World Holdings (CWH) reported revenue of $2.0B for the second quarter 2025 (Q2 2025), +9% from a year earlier and +40% from the quarter before.
Was Camping World Holdings profitable in the second quarter 2025?
Operating profit was $130M (6.6% of revenue) and net earnings $30.2M.