Wells Fargo analysts think investors have become overly focused on the fact that May U.S. boat sales were down without considering several underlying nuances “skewing May data.”
Earnings and Analysts
Quarterly earnings statements from public companies and periodic reports from analysts reveal the health and direction of the industry.
Wells Fargo analysts are reiterating their belief that the overall retail boat industry will be up between 8 and 9 percent in light of May sales data released by Statistical Surveys.
Marinized LED light manufacturer Seamaster Marine Products reported a 30 percent sales increase during the last six months.
The unsurprising mantra from companies that issued quarterly earnings reports in April was “weather.” The winter that wouldn’t end depressed boat and gear sales throughout the January-March quarter, but many are optimistic that increasing customer demand will translate to delayed 2014 sales, at least in some segments.
BRP will hold its first shareholders meeting June 12 in Valcourt, Québec, at the Laurent Beaudoin Design & Innovation Centre at 1 p.m.
Increasing sales demonstrated by numbers released by Statistical Surveys today show that there is pent-up demand in boat sales.
Johnson Outdoors reported lower second-quarter sales and profits, attributing the reduced results primarily to prolonged harsh winter weather.
Twin Disc’s sales were down, but margins rose for its fiscal third quarter.
Marine Products Corp., the builder of Chaparral and Robalo boats, said today that first-quarter sales rose 7.7 percent and that profits climbed 36.5 percent to nearly $2 million.
B. Riley’s analysis of the marine industry produced a largely positive outlook for all four companies it covers — Brunswick Corp., MarineMax, Marine Products Corp. and West Marine — despite the fact that early spring sales have lagged somewhat because of cold weather in much of the United States.