Remember the buzz surrounding Camping World Holdings Inc (NYSE:CWH) following the Covid-19 crash? The stock saw lows of $3.40 on March 18, 2020, but saw 1,200% gains the following year.

For the uninitiated, Camping World is a recreational vehicle (RV) and outdoor retailer that saw a surge in demand during the pandemic due to changing consumer behavior.

The pandemic led to travel restrictions and social distancing guidelines, causing swaths of people to seek out alternative forms of travel and recreation that allowed them to safely distance themselves from others.

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As a result, there was a significant increase in demand for RVs and camping equipment, making Camping World a leader in the space. That’s the short of it.

How’s the stock doing now?

The company reported full-year 2022 and fourth-quarter earnings on Tuesday, with its CEO Marcus Lemonis saying that it is still benefitting from the strong performance it saw in the thick of the pandemic.

“The last several years of strong performance has bolstered our confidence in the long-term prospects of our business,” Lemonis said.

By The Numbers: While the company's revenue increased by 0.8% to $7.0 billion in the past year, its gross profit decreased by 7.9% to $2.3 billion.

Diluted earnings per share was $3.22 in 2022, down from $6.07 in the previous year, while the adjusted earnings per share was $4.17, down from $6.88 in the previous year.

On a quarterly basis, revenue declined by 7.1% to $1.3 billion.

Adjusted earnings per share decreased from $0.90 in the previous year to a loss of $0.20 in the fourth quarter.

“In light of the short-term softening of demand and new vehicle margin compression, we recognized the need for aggressive annualized cost reductions, starting in the fall of 2022,” Lemonis said. “This includes reduced headcount, the elimination or reduction of underperforming assets, locations, and business lines, while enhancing the wages and benefits of our employees.”

What are the analysts saying? According to Benzinga’s analyst ratings, Stephens & Co on Wednesday reiterated an overweight rating, and raised its price target to $31.
Price action: Shares of Camping World are trading 9.03% higher to $25.73, according to Benzinga Pro.

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