MarineMax (NYSE: HZO) reported Q4 EPS of $1.19, $0.81 better than the analyst estimate of $0.38. Revenue for the quarter came in at $398.76 million versus the consensus estimate of $341.34 million.

• Achieves Highest Revenue and Earnings in Company’s History
• Revenue Approaches $400 Million in Fourth Quarter; 33% Same-Store Sales Growth
• Fourth Quarter Earnings Per Share More than Tripled to $1.13; Adjusted EPS $1.19
• Fiscal 2020 Revenue Exceeds $1.5 Billion; 25% Same-Store Sales Growth
• Fiscal 2020 Earnings Per Share More than Doubled to $3.37; Adjusted EPS $3.42
• Company Provides Annual Guidance for Fiscal 2021
• W. Brett McGill, Chief Executive Officer and President stated, “The MarineMax Team generated a record $1.5 billion of revenue and more than doubled our earnings per share while overcoming these extremely uncertain times. We believe this demonstrates the strength and flexibility of our business model. I could not be prouder of the entire Team for their focus, hard work and passion for MarineMax. We also believe that the industry experienced a foundational shift in 2020, and specifically for MarineMax, it resulted in a greatly expanded customer base that is embracing and enjoying the boating lifestyle. We continue to add new customers at a seasonally accelerated pace. This foundational layer should provide sustainable growth for years to come, as many existing and new customers will upgrade to larger boats and need additional services.”

Mr. McGill continued, “Our deep manufacturer relationships and brand strategy provide us with a competitive advantage by supporting our ability to move inventory between stores to help satisfy the growing demand. Looking ahead, our business outlook remains promising as more people are realizing that boating is a safe way for families to spend time together enjoying the boating lifestyle. Our balance sheet is very well capitalized, allowing us to continue to pursue strategic accretive acquisitions, to strengthen and enhance our digital strategy, to expand with marinas and to further grow our higher margin businesses. We are happy that many people have rediscovered the benefits of the boating lifestyle, which gives us increased confidence for the future.”

GUIDANCE:

MarineMax sees FY2021 EPS of $3.70-$3.90, versus the consensus of $2.44.

Based on current business conditions, retail trends and other factors, the Company currently expects earnings per diluted share to be in the range of $3.70 to $3.90 for fiscal 2021. This includes earnings contributed by SkipperBud’s, which the Company acquired on October 1, 2020. This compares to a non-GAAP adjusted, but fully taxed, diluted earnings per share of $3.42 in fiscal 2020.

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