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MarineMax Raises Full-Year Earnings Guidance

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MarineMax said fiscal second-quarter revenue, earnings and same-store sales all increased, and the company boosted its full-year earnings guidance.

Because of continued strong demand, MarineMax now expects earnings per diluted share of $7.90 to $8.30 for fiscal year 2022, an increase from the prior guidance of $7.60 to $8 per share, the company said in its earnings report yesterday.

MarineMax said gross margin widened in the quarter ended March 31, to 43 percent. Same-store sales rose 7 percent.

“Our demand and backlog provides us with continued confidence for the balance of fiscal 2022 and beyond,” CEO W. Brett McGill said.

“We anticipated two years ago that boating would be one of the beneficiaries of a changed world,” McGill added. “This quarter is evidence of the sustainability of that trend and MarineMax’s ability to leverage our scale, global presence, product diversification, technology advancements, strong balance sheet and cycle-tested team.”

Fiscal second-quarter revenue climbed 17 percent to a record $610.1 million, from $523.1 million in the year-prior quarter. Net income rose 37 percent to $53.5 million, the company said.

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