MarineMax Posts Q1 Results

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MarineMax posted a record first quarter, reporting an increase in revenue of more than $107 million — 35 percent — to $411.5 million, compared with the same quarter a year prior.

In addition, net income and earnings per diluted share more than doubled, to $23.6 million and $1.04, respectively.

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“We delivered record sales and earnings growth in the quarter on top of very strong performance a year ago as we continue to outperform by effectively executing on our balanced growth strategy,” MarineMax president and CEO Brett McGill said in a statement. “Our entire team contributed to these impressive results, supported by our global market presence, premium brands, exceptional customer service and ongoing investments in technology.”

McGill said MarineMax’s long-term strategy is to continue to grow higher-margin businesses — such as the acquisition of SkipperBud’s — and build on its strong start to the fiscal year.

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“Our ongoing accretive acquisitions are all successfully integrated and contributing to our performance,” McGill said. “We will continue to pursue complementary opportunities with a disciplined approach to expand our business as we remain committed to creating long-term foundational shift of new customers. … This shift positions us to build on our growth for years to come, as many existing and new customers should upgrade to larger boats and take advantage of our multitude of product and service offerings.”

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