Skip to main content

MarineMax reports 2Q results

MarineMax officials blamed bad weather for a drop in second-quarter revenue and profits and a same-store sales decline, but the boat retailer predicted that sales have only been delayed until later in 2014, rather than lost.

Revenue was $136.6 million, compared with $160 million in the comparable quarter last year. Same-store sales declined about 16 percent, primarily because of poor weather, after two consecutive March quarters of double-digit percentage same-store sales growth on a year-over-year basis.

“We believe that many of the potential sales that did not close in the second quarter have likely been deferred to later quarters,” MarineMax CEO Bill McGill said in a statement. “We expect to benefit from our broad selection of brand offerings and recent brand additions and believe that our strong balance sheet, strategically placed inventory and improving market conditions position us well for the future.”

The Clearwater, Fla.-based company reported a net loss of slightly less than $2 million, or 8 cents a share, for the quarter that ended March 31, compared with net income of $344,000, or 1 cent a share, in the quarter last year.

Revenue decreased 5 percent to $246.2 million for the six months that ended March 31, compared with $259.1 million in the comparable period last year. Same-store sales decreased about 6 percent, compared with a 10 percent increase in the comparable period last year.

The company reported a net loss for the first six months of $5.3 million, or 22 cents a share, compared with a net loss of $3.8 million, or 17 cents a share, in the comparable period last year.

“We are confident in the long-term industry recovery cycle and the significant upside that exists for MarineMax,” McGill said. “As we head into the prime boating season, we believe our team is poised to increase market share, grow margins and deliver the best possible experience to our passionate customers. We also believe we have a strong foundation in place and are well-positioned to drive positive cash flow growth as consumer confidence returns.”



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. .