MarineMax, Inc. (NYSE:HZO) soared on Thursday after the company reported second-quarter results.
The company reported adjusted earnings per share of 23 cents, beating the street view of 19 cents. Quarterly sales of $631.51 million (+8.3% year over year), outpacing the analyst consensus estimate of $578.77 million.
“Despite facing a weak retail market and an uncertain macroeconomic climate, we delivered a strong second-quarter performance,” said Brett McGill, Chief Executive Officer.
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An increase in boat sales primarily drove the top-line growth. On a comparable same-store basis, revenue increased by 11%, reflecting additional contributions from products and services, including finance and insurance, the Superyachts Division, manufacturing and marinas.
Gross profit decreased 0.5% year over year to $189.5 million, while gross profit margin of 30.0% decreased 270 basis points.
This was primarily due to lower boat margins and the challenging retail environment. Adjusted EBITDA for the quarter increased to $30.9 million from $29.6 million for the comparable period last year.
“We ended the quarter with more than $200 million in cash and cash equivalents, and continue to reduce our long-term debt. Additionally, we have significant financing capacity through largely unused lines of credit,” McGill added.
Outlook: MarineMax expects fiscal year 2025 adjusted net income in the range of $1.40 to $2.40 per diluted share (estimate: $2.28), compared with a prior range of $1.80 to $2.80 per diluted share.
“The level of actual new sales seems to have slowed since the start of April. This suggests growing concern among consumers about the actual effects to the economy from the tariffs,” the CEO added.
Price Action: HZO shares closed higher by 17.30% to $22.67 on Thursday.
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