MarineMax, Inc. (NYSE: HZO) – MarineMax Second Quarter Earnings Beats Estimates: Will increase FY21 Forecast

  • MarineMax Inc (NYSE: HZO) reported 34% year-on-year internet income progress within the second quarter of FY21 to $ 666.3 million, beating analysts’ consensus estimate of $ 628.34 million of {dollars}. Similar retailer gross sales elevated 6%.
  • The corporate’s geographic and product diversification and environment friendly use of its digital platform have pushed income progress.
  • EPS of $ 2.59 beat analyst consensus of $ 1.99.
  • Gross revenue elevated 65.8% year-on-year to $ 204.6 million.
  • Promoting, basic and administrative bills elevated 65.4% year-over-year to $ 123.8 million.
  • The working margin was 12.1% and working revenue for the quarter elevated 66.4% to $ 80.9 million.
  • Money and money equivalents totaled $ 200.1 million as of June 30, 2021.
  • “We as soon as once more achieved document gross sales and revenue progress within the quarter as demand for the boating life-style remained sturdy and our group continued to execute on our technique of driving our enterprise to larger margin, leading to our highest quarterly working margin up to now, ”stated CEO W. Brett McGill.
  • Outlook: MarineMax raised EPS forecast for fiscal 21 to $ 6.40 – $ 6.55 from the earlier view of $ 5.50 – $ 5.65, towards the consensus of $ 5.69.
  • Value motion: HZO shares are buying and selling down 0.22% to $ 50.97 on Thursday’s final verify.

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