Camping World Holdings, Inc.

there will be an opportunity to ask questions. To ask a question, press star then one on your telephone keypad. To withdraw a question, please press star then two. Please note that this event is being recorded. I would now like to turn the conference over to Lindsay Christian, Chief Administration Legal Officer. Please go ahead.

Thank you and good morning everyone. A press release covering the company's first quarter ended March 31, 2025 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 our business plans and goals, macroeconomic and industry trends, customer trends, inventory strategy, future growth of our operations, capital allocation, and future financial results and position. Actual results may differ materially from those indicated by these remarks as a result of various important factors, including those discussed in the risk factor section in our Form 10-K, on 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, 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 2025 first quarter are made against the 2024 first quarter results, unless otherwise noted. I'll now turn the call over to Marcus.

Thanks, Lindsay. Good morning and welcome to our first quarter 2025 earnings call. We entered the year with a few simple mandates. Sell more RVs, improve our margins, and reduce our costs. As part of that, we made a commitment to deliver for the 2025 year an improvement of SG&A as a percentage of gross by 600 to 700 basis points. We began the mandate by making the difficult decision to part ways with a number of team members and optimized our footprint and real estate through the targeted consolidation of dealerships, working to accelerate sales per rooftop and improve efficiency. Through an intense focus on profitability, we achieved EBITDA growth of nearly four times the previous year in the quarter. We've taken decisive action on SG&A and craft preservation during the first quarter. The primary benefits of which we expect to show up in the second half of the year through the balance of the year so we may achieve our goal. Our company is uniquely positioned to outperform compared to our peers, especially in an environment like this. with stabilizing forces in the used business, the good sand business, and our service and parts business. The RVs we sell are built in America so that people can see America, mitigating the impact from tariffs to our industry. There are three very specific points around this topic. We expect the direct tariff impact to the broader RV industry to be relatively immaterial, with new model year 26 pricing to be up in the mid-single digits range. In the event new model year 2026 prices increase more materially, we see the used side of our business, as evidenced in Q1, as a continual benefit for increasing value in this area. And our contract manufacturing strategy allows us to react swiftly on the new side of the business. We have not seen any discernible impacts on demand from tariff uncertainties. This includes no clear evidence of any pull-forward demand or pre-buying, giving us greater confidence in the positive March and April sales trends we are seeing. We remain confident in the guideposts we've laid out to deliver growth in excess of low double digits in the used units, low single digits in new, vehicle gross margins within our historical range, and SG&A as a percentage of gross profit by improving six to 700 basis points. While we experienced some pressure on ASP during the quarter, we're committed to managing our SG&A to mitigate any ASP variability that can persist in the near term while finding new customers and growing our market share. We believe in the strength in our business and how we are positioned for idiosyncratic growth in 25. I'll now turn the call over to Matt.