MarineMax Q2 Result Tops Estimates: Raises FY21 Guidance - MarineMax (NYSE:HZO)

MarineMax Inc HZO reported second-quarter FY21 net revenue growth of 34% year-on-year to $666.3 million, beating the analyst consensus estimate of $628.34 million. Same-store sales grew 6%.
The company's geographic and product diversification and the effective utilization of its digital platform drove revenue growth.
EPS of $2.59 beat the analyst consensus of $1.99.
The gross profit rose 65.8% Y/Y to $204.6 million.
Selling, general and administrative expenses increased 65.4% Y/Y to $123.8 million.
The operating margin was 12.1% and the operating income for the quarter rose 66.4% to $80.9 million.
Cash and equivalents totaled $200.1 million as of June 30, 2021.
"We once again delivered record sales and earnings growth in the quarter, as demand for the boating lifestyle remained strong and our team continued to execute on our strategy of driving our higher-margin businesses, resulting in our strongest quarterly operating margin to date," said CEO W. Brett McGill.
Outlook: MarineMax raised FY21 EPS guidance to $6.40 - $6.55 from the previous view of $5.50 - $5.65, versus the consensus of $5.69.
Price action: HZO shares are trading lower by 0.22% at $50.97 on the last check Thursday.