MarineMax US Stock Price, News & Analysis

MarineMax, Inc. (NYSE: HZO), the leading recreational boat and yacht retailer, has appointed Adam M. Johnson to its Board of Directors. Johnson, who has served as Chairman and CEO of NetJets, brings 25 years of senior leadership experience. CEO William Brett McGill expressed enthusiasm about Johnson's appointment, noting his alignment with MarineMax's commitment to customer service and growth. Johnson is eager to assist MarineMax in achieving its strategic goals, drawing parallels between both companies' business models.

MarineMax, Inc. (NYSE: HZO) reported a 34% increase in revenue for Q3 2021, totaling $666.3 million, up from $498.3 million in Q3 2020. Same-store sales rose 6%, on a backdrop of strong demand for recreational boating and strategic acquisitions. Net income surged over 70% to $59.6 million or $2.59 per diluted share. For the first nine months of FY 2021, revenue reached $1.6 billion, up 44% year-over-year. The company raised its 2021 EPS guidance to $6.40-$6.55, up from $5.50-$5.65.

MarineMax, the largest recreational boat and yacht retailer globally, announced a webcast to discuss fiscal Q3 2021 results on July 22, 2021, at 10:00 a.m. ET. The financial results will be released prior to the market opening on the same day. The company operates over 100 locations worldwide, including 78 retail dealerships and 31 marinas, and offers a range of boating products and services. MarineMax is also a key player in super-yacht services through its subsidiaries. Investors can access the webcast via the company's website.

MarineMax, Inc. (NYSE: HZO) has increased its credit facility to $500 million, bolstering its liquidity and financial flexibility for future growth. This facility has a three-year term ending in July 2024, with options for two one-year renewals. The credit mainly secures the company's inventory, while its extensive real estate remains unpledged. As of June 30, 2021, MarineMax had a financial capacity of over $329 million. The company's CFO highlighted strong product demand and the importance of this amendment for future planning.

MarineMax, Inc. (NYSE: HZO) announced the acquisition of Nisswa Marine, a full-service dealer in Minnesota with $35 million in revenue in 2020. This strategic move is expected to boost MarineMax's margins and enhance its service in the area, leveraging Nisswa's extensive storage capabilities and premium brand offerings. The Wiczek family will continue to lead Nisswa, ensuring continuity in operations. CEO W. Brett McGill emphasized the alignment of company values and the potential for mutual growth.

MarineMax, the largest recreational boat retailer, has acquired Cruisers Yachts for $63 million, enhancing its product portfolio with premium American-made yachts. The acquisition includes a newly purchased manufacturing plant, increasing Cruisers' production capacity. This strategic move is expected to be accretive in the first full year and aligns with MarineMax's goal to improve gross margins. With over 100 years of heritage, Cruisers generated $75 million in revenue despite industry challenges, benefiting from a strong dealer network. The acquisition positions MarineMax for growth in the luxury yacht market.

MarineMax, the largest recreational boat and yacht retailer, reported a 70% revenue increase to $523.1 million for Q2 ended March 31, 2021, up from $308.5 million last year. Same-store sales rose over 45%. Net income surged to $38.9 million with earnings per share at $1.69, compared to $5.1 million and $0.23, respectively, from last year. For the first half of fiscal 2021, revenue grew 52% to $934.6 million, and same-store sales increased 33%. The company raised its fiscal year 2021 EPS guidance to $5.50 to $5.65.

MarineMax (NYSE: HZO) is set to hold a webcast to discuss its second quarter fiscal 2021 results on April 22, 2021, at 10:00 a.m. Eastern Time. The Company will release its financial results before the market opens on the same day. This call may include material nonpublic information and forward-looking statements regarding its operations and financial condition. MarineMax is a leading recreational boat and yacht retailer, managing over 100 locations globally, including 77 retail dealerships.

MarineMax, Inc. (HZO) reported a 35% increase in revenue for Q1 2021, reaching $411.5 million compared to $304.2 million in Q1 2020. Same-store sales grew over 20%, driven by a 35% increase in new unit sales. Net income surged to $23.6 million, translating to earnings per share of $1.04, up from $9.1 million and $0.41, respectively, last year. The company raised its fiscal 2021 EPS guidance to $4.00-$4.20, reflecting positive market conditions. Robust growth is attributed to strategic acquisitions and a rise in boating demand.