Wells Fargo said today that boat sales in the ski and wake segment are outperforming the broader powerboat industry, according to Statistical Surveys data, a trend the bank’s analysts attribute to the pace of builder innovation and share gains from other segments, such as sterndrives.
Earnings and Analysts
Quarterly earnings statements from public companies and periodic reports from analysts reveal the health and direction of the industry.
Twin Disc swung from a fiscal fourth-quarter profit last year to a $5.5 million loss this year and also reported lower sales for the period.
Johnson Outdoors reported lower sales and earnings for its third quarter, albeit with double-digit growth in profitability for the company’s fishing and watercraft recreation businesses.
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.
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.