MarineMax (NYSE: HZO) reported Q1 EPS of $0.11, $0.13 better than the analyst estimate of ($0.02). Revenue for the quarter came in at $226.9 million versus the consensus estimate of $187.02 million.

William H. McGill, Jr., Chairman, President, and Chief Executive Officer stated, “We could not be more excited about our results as our team produced another quarter of extraordinary revenue and earnings growth. Our strong same-store sales growth was supported by an increase in larger yacht sales, which traditionally carry lower gross margins, impacting our consolidated margins. Historically, when this has occurred, we get good operating expense leverage, resulting in strong earnings growth, like we experienced this quarter. This is the third consecutive year MarineMax has delivered a profitable first quarter, due in large part to the continued enthusiasm our team has for ensuring our customers are enjoying the boating lifestyle through the great products and new models we offer.”

Mr. McGill continued, “In addition to the strong start to the year, we have positioned MarineMax to benefit from an enhanced presence in the strong Southeastern boating region of North and South Carolina along with Georgia as a result of the recent acquisition of Hall Marine. This acquisition complements our successful 2016 acquisition of Russo Marine in the New England area. Beyond the enhanced opportunities to increase market share, we have added considerable talent to our team through these acquisitions. As we enter the important boat show season, consumer confidence remains near recent highs, our backlog remains above last year and we have more new models for our team to sell and deliver. This provides us with growing confidence as we look out to the remainder of 2017. With our passionate team, ongoing innovative new products and a substantial balance sheet, MarineMax should continue to build on its market share gains as we move ahead.”

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