Camping World Holdings: We Are Not Buyers After The Earnings Results

Summary

• Camping World Holdings' stock has performed poorly this year, losing 12% of its market cap.
• Q3 revenue declined by 6.8% year-over-year, indicating soft demand for the company's products and services.
• The company's dividend safety metrics are poor, making it an unattractive investment for dividend or dividend growth.
• The contracting margins, the challenging macroeconomic environment and the valuation metrics also make CWH's stock unattractive at the current price levels.
• For these reasons, we rate CWH's stock as a "sell".

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Introduction

Camping World Holdings, Inc., (NYSE:CWH) together its subsidiaries, retails recreational vehicles (RVs), and related products and services since 1966. The firm is quite unique from the perspective that they have very wide range of services related to their vehicles, including but not

Analyst’s Disclosure:I/we have no stock, option or similar derivative position in any of the companies mentioned, and no plans to initiate any such positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

Past performance is not an indicator of future performance. This post is illustrative and educational and is not a specific offer of products or services or financial advice. Information in this article is not an offer to buy or sell, or a solicitation of any offer to buy or sell the securities mentioned herein. Information presented is believed to be factual and up-to-date, but we do not guarantee its accuracy and it should not be regarded as a complete analysis of the subjects discussed. Expressions of opinion reflect the judgment of the authors as of the date of publication and are subject to change. This article has been co-authored by Mark Lakos.