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MarineMax, Inc. (HZO) Post Q3 EPS of $0.56

July 25, 2013 6:56 AM EDT
MarineMax, Inc. (NYSE: HZO) reported Q3 EPS of $0.56, which includes $0.29 recovered from Deepwater Horizon oil spill, and may not compare to analyst estimate of $0.31. Revenue for the quarter came in at $175.8 million versus the consensus estimate of $171.04 million.

William H. McGill, Jr., Chairman, President, and Chief Executive Officer, stated, “Our team produced solid revenue growth in the quarter despite the challenge of generally poor weather that impacted industry trends. This growth was driven by our team’s focus and commitment to providing our customers with the right products and experiences along with strength in key geographic markets, such as Florida and parts of the Northeast. During the quarter, our efforts resulted in product gross margin expansion, which was attributable to the ongoing industry recovery, continued improved inventory aging, and our team’s passion and focus on our brands and strategies. In our efforts to stimulate additional sales because of challenging weather, we invested in enhanced promotional activities, which combined with rising insurance costs, resulted in higher ongoing expenses.”

Mr. McGill concluded, “We remain well positioned to capitalize on improving industry conditions. Our balance sheet, which has been further enhanced by the Deepwater Horizon payment, provides us with a competitive advantage by enabling us to have the broadest available inventory in the industry for our customers to purchase. MarineMax customers are demonstrating their passion for improving their quality of life through the great boating experience our company is able to provide as they unite with themselves and others on the water. As we look ahead, improving conditions and pent up demand should continue to emerge and contribute to our ability to increase cash flow, market share and earnings.”

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


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