Skip to main content

MarineMax releases Q3 results

MarineMax revenue increased 10 percent to $361.3 million in the third quarter, and same-store sales grew 8 percent.

Net income for the quarter increased 22 percent to $17.4 million, while earnings per diluted share grew about 32 percent to $0.75, compared to $0.57 for the third quarter last year.

Excluding the non-recurring unusual costs, earnings per diluted share grew 39 percent to $0.79.

Revenue grew more than 8 percent to $868.8 million for the first nine months of the fiscal year, compared with $801.7 million for the same period last year.

Same-store sales increased about 6 percent on top of similar growth for the comparable period last year. Net income for the nine months that ended June 30 rose more than 41 percent to $27.8 million, or $1.21 per diluted share, compared with $19.6 million, or $0.78 per diluted share, for the comparable period last year.

“Despite some larger boat choppiness as suggested by industry data, we believe we continue to take market share through our proven strategies and leading brands,” chairman and CEO Bill McGill said in a statement.

“While our top-line sales were healthy, margins did come under some pressure, largely due to the anticipated Brunswick sale of Sea Ray,” McGill said. “Furthermore, in addition to the non-recurring unusual costs, we incurred significant health care cost increases in the quarter. Generally, industry fundamentals are sound, and with Brunswick retaining the Sea Ray brand, the margin pressure should subside as we move ahead.”

Inventory and outstanding borrowing declined year-over-year, while same-store sales grew, McGill said.

“The mix of our inventory is well positioned in terms of model lineup and model age,” he said. “Our balance sheet remains very strong, which supports our ability to take advantage of opportunities as they arise.”



Volvo Penta Reports Q4, FY22 Results

Net sales of $470 million for the quarter were a 33% increase compared to the prior year period.


DEALERS: Are You Improving the Service Experience?

Our monthly Pulse Report survey asks this and other questions about your dealership. Take the survey here.


NMRA Sets Scholarship Deadline

Students pursuing education in the marine trades can apply for the National Marine Representatives Association awards until April 1.


Marine Products Reports Record Q4

The builder of Chaparral and Robalo boats reported net sales were up 42% for the quarter and 28% for fiscal year 2022.


Shurhold Appoints COO

Forrest Ferrari has years of management, business development, IT and quality-assurance experience.


RBFF, Pure Fishing Partner for a First Catch Center

Pure Fishing will equip a mobile trailer with tackle and gear to bring fishing experiences to areas of South Carolina where participation is low.


An Oft-Overlooked Sales Opportunity

A recent report from the Recreational Boating & Fishing Foundation showed that women comprise 37% of all anglers. If you haven’t tapped this segment, you’re missing out.

1. 2023 new boat retail outlook

Too Many High-Priced Boats

To wrap up 2022, marine retailers reported lower demand, expressed more negative sentiment and voiced concerns about rising inventory. Boat prices and the economy remained top of mind for dealers in December.

Soundings Nov 2022

New-Boat Registrations Continue to Slide

As the gaudy sales figures from the pandemic continue to return to more realistic numbers, the main segments of the recreational boating industry saw new-model registrations of 4,421 in November, a 30.3% drop from 6,340 during the same time in 2021. .