Barring a “major external shock,” U.S. consumers will remain much more resilient than expected despite new sales data that showed April boat sales were roughly flat, compared with the same month in the prior year.
Earnings and Analysts
Quarterly earnings statements from public companies and periodic reports from analysts reveal the health and direction of the industry.
West Marine Inc. reported first-quarter net revenue of $130.4 million, an increase of 2.6 percent from the same period last year.
Chaparral and Robalo parent company Marine Products Corp. said today that it posted a 25.7 percent increase in net sales for the first quarter, due in part to a 36.7 percent leap in unit sales that the company is attributing to popularity among its smaller models.
Twin Disc said today that fiscal third-quarter sales declined to $41.4 million from $60.9 million in the same period last year.
Resilient U.S. consumers, favorable spring weather and strong March boat sales trends point to a very solid marine industry in its peak selling season and could indicate a supply shortage in California and northern U.S. states.
Twin Disc reported fiscal second-quarter sales of about $44.8 million, compared with nearly $72.7 million in the quarter last year.
Marine Products Corp. said today that it generated fourth-quarter net sales of nearly $50 million, a 33.2 percent increase from $37.4 million during the same period in 2014.
BRP said its fiscal third-quarter revenue increased 10 percent from the same quarter last year to $1.01 billion Canadian, or about $734 million in U.S. dollars.
Zodiac Nautic North America, a subsidiary of RIB and inflatable manufacturer Zodiac Nautic, is reporting one of the best Fort Lauderdale International Boat Shows in its history.
A waning international appetite for American-made goods held back the nation’s economic growth during the third quarter, government data released Thursday morning show, a side effect of broader weakness in the global recovery.