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Camping World Holdings , Inc. Reports Third Quarter 2021 Results And Raises Full Year Guidance LINCOLNSHIRE , IL November 2 , 2021 ( BUSINESS WIRE ) -- Camping World Holdings , Inc. ( NYSE : CWH ) ( the " Company " ) , America's Recreation Dealer , today reported results for the third quarter ended September 30 , 2021 . Third Quarter Operating Highlights ( 1 ) Revenue was a third quarter record $ 1.917 billion , an increase of $ 237.8 million , or 14.2 % . Gross profit was $ 691.4 million , an increase of $ 158.2 million , or 29.7 % , and gross margin was 36.1 % , an increase of 431 basis points . - Exhibit 99.1 Net income was $ 189.3 million , an increase of $ 34.5 million , or 22.3 % . Net income margin was 9.9 % versus 9.2 % for the third quarter of 2020 . Diluted earnings per share of Class A common stock was $ 1.72 and adjusted earnings per share diluted ( 2 ) of Class A common stock was $ 1.98 . Adjusted EBITDA ( 2 ) was a $ 288.0 million , an increase of $ 71.0 million , or 32.7 % , and adjusted EBITDA margin ( 2 ) was 15.0 % for the third quarter versus 12.9 % for the third quarter of 2020 . Vehicle inventories were $ 1.4 billion , an increase of $ 433.8 million : new vehicle inventories were $ 723.6 million , an increase of $ 166.5 million , and used vehicle inventories were $ 391.5 million , an increase of $ 267.3 million . On September 30 , 2021 , we entered into an Eighth Amended and Restated Credit Agreement governing our floor plan facility which allows us to borrow $ 1.70 billion of floor plan notes payable and , up to $ 70.0 million under the revolving line of credit , and extended the term to 2026 . 2021 Adjusted EBITDA Guidance Update Marcus Lemonis , Chairman and CEO of Camping World Holdings , Inc. stated , “ Our team's strong performance for the quarter has allowed us to reach a Company - high Trailing Twelve - Month Adjusted EBITDA ( 2 ) of $ 902 million . As a result , we are raising our 2021 fiscal year guidance ( ³ ) from Adjusted EBITDA of $ 840 million to $ 860 million to a revised Adjusted EBITDA of $ 915 million to $ 930 million . " ( 1 ) Unless otherwise indicated , all financial comparisons in this press release compare our financial results for the third quarter ended September 30 , 2021 to our financial results from the third quarter ended September 30 , 2020 . ( 2 ) Adjusted earnings per share diluted , adjusted EBITDA , adjusted EBITDA Margin , and Trailing Twelve - Month Adjusted EBITDA are non - GAAP measures . For a reconciliation of these non - GAAP measures to the most directly comparable GAAP measures , see the " Non - GAAP Financial Measures " section later in this press release . A reconciliation for the Company's Adjusted EBITDA outlook to the corresponding GAAP measure on a forward - looking basis cannot be provided without unreasonable efforts , as we are unable to provide reconciling information with respect to certain items . However , in 2021 the Company expects equity - based compensation of approximately $ 26-27 million , depreciation and amortization of approximately $ 62-68 million , other interest expense of approximately $ 46-48 million , and restructuring charges of approximately $ 25-27 million , each of which is a reconciling item to Net Income . ( 3 ) Prior guidance provided on August 3 , 2021 . Stock Repurchase Program On August 3 , 2021 , the Company's Board of Directors authorized an increase in the Company's stock repurchase program originally approved on October 30 , 2020 for an additional $ 125.0 million of the Company's 1