MarineMax (NYSE: HZO) reported Q2 EPS of $0.23, $0.04 better than the analyst estimate of $0.19. Revenue for the quarter came in at $308.5 million versus the consensus estimate of $304.63 million.

W. Brett McGill, Chief Executive Officer and President, stated, “While we are keenly focused on managing our business to optimize cash flow, our highest priority remains with the health and safety of our employees, customers and the communities in which we operate. With most waterways open, we are committed to offering essential services to our boating communities and providing resources to get our customers and their families out on the water together, safely. Our strategy of investing in high margin businesses, best in class technology and focusing our team’s efforts on premium products and brands has served us well. Our business is further benefiting from our fully integrated CRM system and data analytics, creating a seamless experience for our customers.”

Mr. McGill continued, “With one of the strongest and lowest leveraged balance sheets in the industry, we believe we have sufficient financial flexibility and liquidity to navigate this crisis. As our cycle tested management team has demonstrated through past challenged economic times, our business model is resilient and resonates with customers. Furthermore, our balance sheet is even stronger today. Given our significant unencumbered real estate holdings, flexible leases, unleveraged inventory, cost reductions and inventory management, we are well positioned to overcome and potentially capitalize during the current situation. As COVID-19 recedes, we are confident that now more than ever, our customers will be spending more time out on the water, close to home.”

Fiscal 2020 Guidance

As previously disclosed, the Company withdrew its prior 2020 guidance given the continued significant uncertainties related to COVID-19.

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