Zinger Key Points
- Quarterly sales of $631.51 million (+83% year over year), outpacing the analyst consensus estimate.
- Gross margin fell 270 bps as lower boat margins pressured profits.
- Get access to the leaderboards pointing to tomorrow’s biggest stock movers.
MarineMax, Inc. 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.
Also Read: Durable Goods Orders Jump 9.2% In March, But One Category Tells The Real Story
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.
- Massive Demand & Disruptive Potential – Boxabl has received interest for over 190,000 homes, positioning itself as a major disruptor in the housing market.
- Revolutionary Manufacturing Approach – Inspired by Henry Ford’s assembly line, Boxabl’s foldable tiny homes are designed for high-efficiency production, making homeownership more accessible.
- Affordable Investment Opportunity – With homes priced at $60,000, Boxabl is raising $1 billion to scale production, offering investors a chance to own a stake in its growth.
“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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