Camping World Holdings, Inc.

Good morning and welcome to Camping World Holdings conference call to discuss financial results for the fourth quarter and year ended December 31st, 2023. At this time, all participants are in a listen-only mode. Later, we will conduct a question and answer session and instructions will follow at that time. Please be advised that this call is being recorded and the reproduction of the call in whole or in part is not permitted without written authorization from the company. Joining on the call today are Marcus Lomonas, Chief Chairman and Chief Executive Officer, Brent Moody, President, Karen Bell, Chief Financial Officer, Matthew Wagner, Chief Operating Officer, Lindsay Christen, Chief Administrative and Legal Officer, Tom Kim, Chief Accounting Officer, and Brett Andrus, Senior Vice President, Investor Relations. I will turn the call over to Ms. Christen to get us started.

Thank you and good morning everyone. A press release covering the company's fourth quarter and year-ended December 31st, 2023 financial results was issued yesterday afternoon and a copy of that press release can be found in the investor relations section on the company's website. Management's remarks on this call may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These remarks may include statements regarding are business plans and goals, industry and customer trends, inventory expectations, the expected impact of inflation, interest rates, and market conditions, acquisition pipeline and plans, future dividend payments and capital allocation, and anticipated financial performance. Actual results may differ materially from those indicated by these statements as a result of various important factors, including those discussed in the risk factor section in our Form 10-K, our Form 10-Qs, and other reports on file with the SEC. Any forward-looking statements represent our views only as of today, and we undertake no obligation to update them. Please also note that we will be referring to certain non-GAAP financial measures on today's call, such as EBITDA, adjusted EBITDA, and adjusted earnings per share diluted. which we believe may be important to investors to assess our operating performance. Reconciliations of these non-GAAP financial measures to the most directly comparable GAAP financial statements are included in our earnings release and on our website. All comparisons of our 2023 fourth quarter and fiscal year results are made against the 2022 fourth quarter and fiscal year results, unless otherwise noted. I'll now turn the call over to Marcus.

Good morning and welcome to the first call of 2024. I got to be honest, I'm glad 23 is over. On today's call, the team will cover both the operational and financial highlights from 2023 while providing an exciting outlook for 2024 and beyond. As the State of the Union for 2023, there's really one key message that prevails. We believe our industry has seen the bottom of new RV sales and results and are seeing positive indicators that the next several years will produce growth in revenue, unit sales, overall gross profit, and sequentially an improving bottom line for our company. We expect to deliver 30% plus EBITDA compared to 2023. As we worked internally through the back half of last year, In an effort to raise our profitability in 24, we identified three key factors needing to be accomplished to achieve our 2024 earnings goals. We needed to eliminate age model year units, renegotiate model year 24 pricing, and subsequently adjust our use position and values resulting from the revised new model year pricing on 24s. The execution of this strategy puts us well ahead of our competitors and drives market share growth going forward. As we discussed on our last call, we will have completed the bulk of this by the end of Q1, with our adjustments unused driving the bulk of our current period. We elected to temporarily slow down used acquisitions to allow for market pricing to resolve before reinvesting our cash. While working through the inventory was our primary focus, we must recognize the Good Sand business, which delivered record earnings over $100 million for the first time and continues to show stability and growth in servicing the installed base of RVers. Fundamentally, I've never seen our business adjust with such precision to micro and macro economic headwinds. Being able to achieve the profitability we experienced during this difficult period has proven the resiliency of our company and puts a finer point on the quality and strength of the management team that have had the privilege of assembling over the last 20 years. I'd like to now turn the call over to Matthew Wagner to discuss our company's operations.