Marine Products Corp., the parent company of Chaparral, Robalo and Vortex jetboats, attributed a 24 percent hike in second-quarter net sales to higher unit sales of Vortex jetboats, Robalo outboard sportfishing boats and Chaparral SunCoast Sportdeck outboards.
Earnings and Analysts
Quarterly earnings statements from public companies and periodic reports from analysts reveal the health and direction of the industry.
FLIR Systems Inc. said today that second-quarter revenue was lower in its marine segment, in part because of foreign currency exchange fluctuations.
Marine Products Corp., the parent company of Chaparral and Robalo boats, said it generated first-quarter net sales of $50.6 million, a 6.2 percent increase from $47.7 million in the same period last year.
Twin Disc reported fiscal third-quarter sales that were flat with last year and swung to a profit for the quarter that beat expectations by 12 cents a share.
MarineMax executives were disappointed that they didn’t hit Wall Street’s targets, saying that selling off aging inventory and increasing marketing spending were among the reasons it missed analysts’ second-quarter earnings projections by $1.11 million — although the company still saw year-to-date sales up 34 percent from last year.
FLIR Systems Inc. today reported lower first-quarter revenue, but higher profits.
MarineMax will release its second-quarter earnings report April 23.
Brunswick Corp. will release its first-quarter financial results on April 30 before the market opens.
MIAMI — New-boat sales were up 5 to 6 percent in units and 8 to 9 percent in dollars in 2014 and are likely to increase by about the same amount in 2015, Bruce Van Wagoner said at an industry leadership conference that GE Capital hosted on Wednesday evening.
Malibu Boats Inc. said it increased sales by 26.3 percent, to $55.5 million, in its second quarter and increased unit volume by 27.9 percent, to 847 boats, which includes 60 units in Australia.