Marinemax Inc. (NYSE:HZO) delivered a profit and missed Wall Street’s expectations, BUT beat the revenue expectation. The revenue beat is a positive sign to shareholders seeking high growth out of the company. Shares are up 2.54%.
Marinemax Inc. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share decreased 90% to $0.01 in the quarter versus EPS of $0.10 in the year-earlier quarter.
Revenue: Rose 11.12% to $160 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: Marinemax Inc. reported adjusted EPS income of $0.01 per share. By that measure, the company missed the mean analyst estimate of $0.12. It beat the average revenue estimate of $148.25 million.
Quoting Management: William H. McGill, Jr., Chairman, President, and Chief Executive Officer, stated, “Our team was able to generate double digit same-store sales growth, on top of strong growth in last year’s March quarter despite a generally colder March quarter this year. During the quarter, our southern markets produced strong results, which were partly offset by our northern markets, which experienced persistent unfavorable weather conditions. In our efforts to respond to these adverse weather conditions, we increased our promotional efforts, which increased marketing and sales costs at a higher rate than our resulting sales growth. The quarter was also affected by a large increase in our healthcare and other insurance costs resulting in lower earnings.”
Key Stats (on next page)…