America's love affair with recreational vehicles seems to be waning and investors are running for the hills as a result.
Camping World (CWH) - Get Report dropped as much as 17% in trading Tuesday after the company reported revenue growth of 21%, a deceleration from the previous quarter's growth of 35%. Additionally, CEO Marcus Lemonis said that unseasonably cold weather likely impacted the early part of the industry's peak selling season.
That was enough for the markets to punish the industry across the board.
LCI Industries (LCII) - Get Report fell 5% on the day. Patrick Industries Inc. (PATK) - Get Report dropped 4.24%. Thor Industries Inc. (THO) - Get Report tanked 9.83%. Winnebago Industries Inc. (WGO) - Get Report fell 8.85%.
Overall, Camping World's first quarter performance wasn't that bad.
Same-store sales rose 3.9% as profits rose 16.5% to $36.9 million. The company's EBITDA rose 9.7% year over year to 41 cents per share, missing analysts expectations by a penny.
Camping World reiterated its revenue guidance for the full year to between $4.8 billion and $5 billion. Adjusted EBITDA is expected to be between $431 million and $441 million.
Investors may be looking at yesterday's selloff as a buying opportunity though as Camping World shares climbed 1.56% pre-market Wednesday.