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MarineMax, Inc. - HZO STOCK NEWS

Welcome to our dedicated page for MarineMax news (Ticker: HZO), a resource for investors and traders seeking the latest updates and insights on MarineMax stock.

MarineMax, Inc. (symbol: HZO) is a leading United States-based company specializing in the sale of new and used recreational boats under premium brands. With a mission to provide unparalleled resources for boating enthusiasts, MarineMax offers a comprehensive range of services and products to enhance the boating experience.

MarineMax operates over 60 stores nationwide, staffed by friendly and knowledgeable professionals dedicated to helping customers connect with the water. The company's core business includes selling marine products such as engines, parts, and accessories. Additionally, MarineMax provides repair, maintenance, and storage services, ensuring that customers' boats remain in top condition.

MarineMax also offers boat financing and insurance solutions, making it a one-stop shop for all boating needs. The company's brokerage sales of boats and yachts, along with its yacht charter business, further diversify its offerings.

The company's operations are divided into two reportable segments: Retail Operations and Product Manufacturing. The Retail Operations segment generates the majority of MarineMax's revenue, primarily driven by the sale of new and used boats. The company is committed to delivering exceptional value through exclusive social and learning events, including Owners' Getaways!®, Rendezvous, Women on Water®, and Kids in Boating classes.

MarineMax's latest achievements include expanding its geographical footprint and enhancing its product portfolio. By providing a fully-stocked boating gear center, MarineMax ensures that customers have access to all the necessary parts and accessories to maximize their enjoyment on the water.

Overall, MarineMax, Inc. continues to solidify its position as a leader in the recreational boating industry, offering comprehensive solutions to meet the diverse needs of boating enthusiasts across the U.S.

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Island Capital Group has issued a third letter to MarineMax, Inc. (NYSE: HZO) shareholders, criticizing the company's management and board for not aligning their interests with shareholders. The letter highlights:

1. MarineMax's stock price has fallen by over 40% in the past three years.
2. EBITDA run rate has decreased by more than $100 million.
3. Senior management compensation exceeds $10 million per year.
4. Island Capital Group proposes selling the YMRS Business to reduce debt and invest in core retail operations.
5. A boat manufacturer plans to tighten inventory terms, potentially compressing margins.

The letter urges management to address concerns about synergies, growth strategy, and cost rationalization initiatives during the upcoming fiscal Q3 earnings call.

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MarineMax (NYSE: HZO), the world's largest recreational boat, yacht, and superyacht services company, has announced it will release its third quarter fiscal 2024 financial results on Thursday, July 25, 2024, before the New York Stock Exchange opens. The company will host a conference call at 10:00 a.m. ET on the same day, led by CEO Brett McGill and CFO Mike McLamb.

Investors can access the webcast through the investor relations section of MarineMax's website. A replay will be available online within an hour after the call and archived for one year. For those preferring a live call, dial-in numbers are provided for U.S., Canada, and international participants.

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MarineMax (NYSE: HZO), the leading global recreational boat, yacht, and superyacht services company, has responded to recent communications from Island Capital Group. The MarineMax Board of Directors is open to evaluating legitimate opportunities to enhance shareholder value and has engaged with Island Capital on multiple occasions. The company reiterates its commitment to making decisions that serve the best interests of the company and its shareholders.

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Island Capital Group issued an updated letter to MarineMax (NYSE: HZO) shareholders, expressing disappointment over the lack of response from MarineMax’s management and board regarding their acquisition proposal for the YMRS Business. The letter highlighted a 19% increase in MarineMax’s stock price, indicating market approval of the proposal. Island Capital, holding a significant stake in MarineMax, believes their proposal would unlock substantial value for shareholders, providing liquidity for debt reduction, growth opportunities, and stock repurchases. The letter urged shareholders to encourage MarineMax’s management to engage in discussions.

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Island Capital Group (ICG) has issued an open letter to MarineMax, Inc. (NYSE: HZO) shareholders.

ICG's Andrew L. Farkas criticizes MarineMax's handling of IGY, a company ICG sold to MarineMax in 2022.

Key issues cited include reduced fiscal year 2024 guidance, failure to acquire new assets, and lack of growth initiatives.

ICG proposes acquiring up to 100% of MarineMax's YMRS Business, valuing it at a double-digit EBITDA multiple, and offering substantial cash proceeds for MarineMax. This could help MarineMax repurchase shares, reduce debt, or pursue strategic acquisitions.

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MarineMax (NYSE: HZO), the leading global recreational boat, yacht, and superyacht services company, has promoted Manny A. Alvare to the role of General Counsel. Alvare, who has served as Vice President of Legal Affairs since October 2021, joined MarineMax in 2018. He has played a important role in the company's acquisitions, brand expansions, and both domestic and international growth. MarineMax CEO Brett McGill highlighted Alvare's significant contributions to the company's legal affairs and growth strategy. Alvare holds a law degree from St. Thomas University’s Benjamin L. Crump College of Law and is an alumnus of the University of Florida.

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MarineMax (NYSE: HZO) announces significant changes to its Board of Directors to strengthen governance. William H. McGill, Jr. will retire as director and Executive Chairman, effective June 30, 2024. Rebecca J. White, Ph.D., a director since 2018, will become Chair of the Board on the same date. Joseph A. Watters, a director since 2005, will also retire by June 30, 2024. Following these changes, the Board will consist of 10 directors. These moves reflect MarineMax's commitment to strong governance and diverse leadership. Both McGill and Watters have been praised for their contributions, while White is recognized for her expertise in entrepreneurship, innovation strategy, and effective management.

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MarineMax, Inc. (NYSE: HZO) reports fiscal 2024 second-quarter revenue of $582.9 million, up 2% year-over-year, with comparable same-store sales growth of 2%. The gross profit margin was 32.7%, net income stood at $1.6 million, with adjusted diluted EPS of $0.18. The company revised its fiscal 2024 financial guidance and hosted an earnings conference call.
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MarineMax, Inc. (NYSE: HZO) will announce its second quarter fiscal 2024 financial results on April 25, 2024, before the NYSE opens. A conference call will be held at 10:00 a.m. ET with CEO Brett McGill and CFO Mike McLamb. Investors can access the webcast on the company's website or join the call via phone.
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MarineMax, Inc. (NYSE: HZO) announces a new $100 million stock repurchase plan, replacing the 2020 plan. The company aims to repurchase shares to mitigate dilution effects and for general corporate purposes.
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FAQ

What does MarineMax, Inc. specialize in?

MarineMax, Inc. specializes in the sale of new and used recreational boats under premium brands, as well as related marine products and services.

How many stores does MarineMax operate?

MarineMax operates over 60 stores nationwide in the United States.

What services does MarineMax provide?

MarineMax offers repair, maintenance, storage, boat financing, insurance, brokerage sales, and yacht charter services.

What are the reportable segments of MarineMax?

The reportable segments of MarineMax are Retail Operations and Product Manufacturing.

What events does MarineMax offer for boating enthusiasts?

MarineMax offers exclusive social and learning events such as Owners' Getaways!®, Rendezvous, Women on Water®, and Kids in Boating classes.

What is the primary revenue source for MarineMax?

The primary revenue source for MarineMax is the sale of new and used boats.

Does MarineMax offer boat parts and accessories?

Yes, MarineMax offers a fully-stocked boating gear center with all the necessary parts and accessories.

Where is MarineMax based?

MarineMax is based in the United States.

Does MarineMax provide yacht brokerage services?

Yes, MarineMax offers brokerage sales of boats and yachts.

What recent achievements has MarineMax accomplished?

MarineMax has recently expanded its geographical footprint and enhanced its product portfolio.

MarineMax, Inc.

NYSE:HZO

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HZO Stock Data

729.48M
22.30M
11.87%
90%
9.25%
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United States of America
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