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MarineMax Posts Record Q2

Coming off its most profitable fourth quarter, first quarter and fiscal year, the company continued to roll with a 70 percent increase in revenue.
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1_MarineMax Yacht Center

MarineMax posted a record second quarter, reporting an increase in revenue of more than $214 million — 70 percent — to $523.1 million, compared with the same quarter a year prior.

The company had a 45 percent increase in same-store sales for the quarter, driven by an increase in comparable new units sold, MarineMax said.

In addition, net income and earnings per diluted share were up more than sevenfold, to $38.9 million and $1.69, respectively.

2 MarineMax_Miami Beach Marina

For the six-month period ending March 31, revenue is up 52 percent, to $935 million, with a 33 percent increase in same-stores sales.

“We continue to gain market share as we capitalize on the foundational shift of new customers embracing the boating lifestyle and many of our existing customers upgrading to larger and newer boats,” MarineMax president and CEO Brett McGill said in a statement. “We extended our long track record of producing meaningful same-store sales growth while also executing on our balanced growth strategy.”

3_MarineMaxWrightsvilleBeach

McGill added: “As we enter our most active season, our large on-order backlog provides us with additional confidence for the balance of fiscal 2021, into fiscal 2022 and beyond.”

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