Wed. Mar 29th, 2023

by RVBusiness | Jan 5, 2023
According to nearly all reports, the financial indexes in 2022 suffered the worst yearly performance in over a decade. As reported by, in 2022, the NASDAQ composite index fell 33%, the Russell 20 Index was down 21.6%, the S&P was off 19.4% and the NYSE Composite index was the best-performing index, still lost 12.2% for the year.
The RV industry’s publicly held companies, in spite of record or near-record 2022 financial performances, dramatically underperformed the closely watched equity indexes during 2022.
By focusing on companies that derive nearly all their revenues and earnings from the RV or closely related industries – the “RV Index,” if you will – according to those companies scored a composite loss in value of 35% during 2022, well below the performance of more standard indexes.
Two of the industry’s largest publicly held retail companies, Camping World and Lazydays, were down 46% and 42.6% in the 12 months ending Dec. 31, 2022. Meanwhile, OEM’s THOR Industries and Winnebago Industries were down 38.4% and 30.8%, respectively, and suppliers Lippert and Patrick were down 42% and 25.7%, respectively.
It would appear that the financial markets have already “priced in” the pull-back in retail registrations and wholesale shipments that started during the second half of 2022 and continue into 2023. However, we have yet to see any company quarterly reports that reflect financial performance since the market slowdown began to impact industry operations.
Gregg Fore, a partner in RVBusiness magazine, stated that “If, in fact, the old belief is true, that the RV Industry leads the economy, then the indication is that a recession or a significant economic slowdown is on the horizon. We are, of course hopeful, that the industry is close to rebalancing and that we will soon return to more normalized activity.”
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