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.
Earnings and Analysts
Quarterly earnings statements from public companies and periodic reports from analysts reveal the health and direction of the industry.
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.
Chilly weather might have inhibited late winter and early spring boat sales, but innovative product seems to be boosting boat show sales and leads across all price points, potentially enough to offset any early losses.
Malibu Boats’ accelerated product development cycle and innovations in a high-growth segment keep the brand poised for continued market share gains, according to a report by Wells Fargo analysts.
Malibu Boats reported a net sales increase of more than 16 percent to $43.9 million for the second quarter of 2014.