MarineMax (HZO) Tops Q1 EPS by 7c, Revenues Miss; Reaffirms FY19 EPS Outlook

MarineMax (NYSE: HZO) reported Q1 EPS of $0.21, $0.07 better than the analyst estimate of $0.14. Revenue for the quarter came in at $242 million versus the consensus estimate of $252.03 million.

W. Brett McGill, Chief Executive Officer and President, stated, “Our customer centric approach, combined with having the right products, along with our team’s strong execution, contributed meaningfully to our efforts to produce a record quarter of sustained cash flow and earnings in our December quarter. We are pleased that our disciplined efforts continue to result in improved gross margins with strong year-over-year growth for the quarter. We outperformed relative to our historical expectations for our December quarter as our mix of sales in the quarter was fairly balanced across all segments, with an edge toward larger product.”

Mr. McGill continued, “We ended the quarter well-positioned in terms of inventory, along with considerable balance sheet strength and liquidity. This positions us well for the upcoming selling season and allows us to take advantage of opportunities as they arise. With positive energy and sales coming from the early boat shows, we remain confident entering this important part of the year while working to build additional long-term value for our shareholders.”

GUIDANCE:

MarineMax sees FY2019 EPS of $1.85-$1.95, versus the consensus of $1.92.

For earnings history and earnings-related data on MarineMax (HZO) click here.

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