MarineMax reports 1Q results


MarineMax today reported an 11 percent revenue increase in its first quarter to $109.6 million from $99.1 million in the quarter last year with same-store sales growing more than 9 percent after an 8 percent increase a year earlier.

The company said it had a net loss of $3.4 million, or 14 cents a share, compared with a loss of $4.2 million, or 18 cents a share, in the quarter a year earlier.

MarineMax said that seasonally the December quarter is traditionally the least significant quarter of the year.

“We are proud that we produced our ninth consecutive quarter of positive same-stores sales growth and did it while expanding our gross margins, in the midst of reported sluggish retail sales in our core product categories and decreased discretionary spending,” president and CEO William McGill said in a statement. “Our team continues to execute on the strategies we have implemented and is focused on ensuring the best customer experience possible.”

The company is happy with its quarterly progress and enthusiastic about new product offerings from new manufacturing partners and “the opportunity they provide to capture additional growth in the future,” McGill said.

Last fall, MarineMax announced the addition of Rec Boat Holdings’ Scarab jetboat line to its product lineup.

“We believe our inventories are at the appropriate level for this early stage of the recovery and that our team is well positioned for success as we enter the busy boat show season,” McGill said. “From a longer-term perspective, as consumer confidence continues to improve, the opportunity to drive positive cash flow and earnings with our streamlined operating structure is compelling. With our solid balance sheet and high-performing team we have a strong foundation that provides a competitive advantage for us to excel as the industry recovers.”


Polaris Names CEO and CFO

Previously interim executives, Michael Speetzen was named the CEO and Bob Mack the CFO of the Minnesota-based powersports company.

Sanlorenzo Reports Q1 Financials

The Italian builder continues to gain market share and expects to debut five models at Cannes in September and launch three new lines in 2022.

New Hope for Killing Algae Blooms

Researchers are experimenting with injecting ozone nanobubbles into waterways that burst and cut off the algae’s food supply.

Mercury’s Impact on the Local Economy

A new study shows that the manufacturer has a more than $5 billion annual impact on the Fond du Lac, Wis., community.

Lippert Posts Record Q1

The quarter marked a “watershed moment” for the component supplier, as net sales hit $1 billion.

Rollick Reaches 100th OEM Customer Mark

Customers that use its Aimbase marketing technology represent 65 percent of U.S. marine unit sales.

Safe Harbor Adds Lauderdale Marine Center

The Florida superyacht facility was acquired in a deal worth $340 million.