West Marine’s three-pronged growth strategy has led B. Riley & Co. to introduce the company at a “buy” rating as the investment banking and analyst firm issued its first assessment of the retail chain.
Earnings and Analysts
Quarterly earnings statements from public companies and periodic reports from analysts reveal the health and direction of the industry.
B. Riley & Co. says the U.S. new-boat market has not delivered more than three consecutive years of unit growth since 1980 and boat ownership in the developed world is “secularly stagnant, at best,” leading the company’s analysts to caution investors against placing “a sizable multiple” on Brunswick Corp. stock. “The unprecedented plunge to record…more
KVH Industries said it had $40.2 million in third-quarter revenue with strong growth in its satellite service business. The Rhode Island-based company reported net income of $1.4 million, or 9 cents a diluted share, for the quarter that ended Sept. 30. During the same period last year, the company reported a profit of $1.7 million,…more
Twin Disc announced a decline in sales but a slight increase in profits for its fiscal 2014 first quarter, reporting that sales to customers serving the global megayacht market remained at historical lows in the quarter. Demand remained steady for equipment used in the industrial, airport rescue and firefighting markets, the company announced. Sales dropped…more
Marine Products Corp., the builder of Chaparral and Robalo boats, today reported a 9.1 percent increase in net sales for the third quarter this year versus last year. Net sales were $42 million, compared with $38.5 million in the same period in 2012 at the Atlanta-based builder. The gain was primarily attributable to an increase…more
Hanse Yachts AG reported above-average demand in the first quarter of fiscal 2013-14 with an 85 percent increase in incoming orders, compared with the same period in the previous year. The increase, which occurred between July and September, totaled 27.6 million euros, or more than $37 million. “The large number of incoming orders in the…more
Marine Products Corp. will release financial results for the third quarter, which ended Sept. 30, on Oct. 23 before the stock market opens. In conjunction with the earnings release, the company will host a conference call the same day at 8 a.m. EDT to review the results. Click here for the full release.
The three major cruise lines have voluntarily posted on their websites the number of serious crimes reported aboard their ships — the first time this type of data has been publicly released. Royal Caribbean Cruises, Carnival Corp. and Norwegian Cruise Line released the data in response to a Senate bill that would require all cruise…more
The International Council of Marine Industry Associations has been producing its Recreational Boating Industry Statistics book for almost 20 years, but says this year’s book is different. “We agreed that after almost two decades it was time to move the production of the book from in-house to an external agency, and so our newly appointed…more
Marine Products Corp., the builder of Chaparral and Robalo boats, today announced a 9.8 percent increase in net sales in the second quarter, generating $42.2 million this year, compared with $38.5 million last year. The Atlanta-based builder also said it expects to introduce its new recreational jetboat line late in its 2014 model year. The…more