Welcome to our dedicated page for MarineMax news (Ticker: HZO), a resource for investors and traders seeking the latest updates and insights on MarineMax stock.
MarineMax, Inc. (symbol: HZO) is a leading United States-based company specializing in the sale of new and used recreational boats under premium brands. With a mission to provide unparalleled resources for boating enthusiasts, MarineMax offers a comprehensive range of services and products to enhance the boating experience.
MarineMax operates over 60 stores nationwide, staffed by friendly and knowledgeable professionals dedicated to helping customers connect with the water. The company's core business includes selling marine products such as engines, parts, and accessories. Additionally, MarineMax provides repair, maintenance, and storage services, ensuring that customers' boats remain in top condition.
MarineMax also offers boat financing and insurance solutions, making it a one-stop shop for all boating needs. The company's brokerage sales of boats and yachts, along with its yacht charter business, further diversify its offerings.
The company's operations are divided into two reportable segments: Retail Operations and Product Manufacturing. The Retail Operations segment generates the majority of MarineMax's revenue, primarily driven by the sale of new and used boats. The company is committed to delivering exceptional value through exclusive social and learning events, including Owners' Getaways!®, Rendezvous, Women on Water®, and Kids in Boating classes.
MarineMax's latest achievements include expanding its geographical footprint and enhancing its product portfolio. By providing a fully-stocked boating gear center, MarineMax ensures that customers have access to all the necessary parts and accessories to maximize their enjoyment on the water.
Overall, MarineMax, Inc. continues to solidify its position as a leader in the recreational boating industry, offering comprehensive solutions to meet the diverse needs of boating enthusiasts across the U.S.
MarineMax (NYSE: HZO) reported fiscal 2024 fourth quarter revenue of $563.1 million, down 5% year-over-year, impacted by Hurricane Helene. Q4 gross margin remained stable at 34.3%, while net income was $4.0 million with diluted EPS of $0.17. For the full fiscal year 2024, revenue reached $2.43 billion with a 1% same-store sales increase despite challenging industry conditions. The company maintained strong margins through higher-margin businesses including marinas and superyacht services. For fiscal 2025, MarineMax projects Adjusted net income between $1.80 to $2.80 per diluted share and Adjusted EBITDA ranging from $150 million to $180 million.
MarineMax (NYSE: HZO), the world's largest recreational boat, yacht, and superyacht services company, announced it will release its fourth quarter and full year fiscal 2024 financial results before the NYSE opening on Thursday, October 31, 2024. The company will hold a conference call at 10:00 a.m. ET, hosted by CEO Brett McGill and CFO Mike McLamb. Investors can access the webcast through the company's website or join via phone using provided dial-in numbers.
MarineMax (NYSE: HZO), the world's largest recreational boat, yacht, and superyacht services company, has provided an update on the impact of Hurricane Helene. CEO Brett McGill expressed concern for the safety of team members and affected communities. The company reported significant damage to certain locations on Florida's west coast, while damage in other Southeast locations was
MarineMax is working to assess the full impact on its operations and financial results, including loss of physical assets and revenue disruption due to closed boat and yacht insurance markets. The company expects to be at or near the low end of its Adjusted EBITDA guidance range for the fiscal year ended September 30, 2024, with revenue anticipated to be modestly lower than expected. A further update will be provided during the fiscal 2024 fourth-quarter and full-year earnings call.
MarineMax, Inc. (NYSE: HZO), the world's largest recreational boat, yacht and superyacht services company, has appointed Steven English as Chief Executive Officer of its IGY Marinas subsidiary. English, who has been with IGY since 2007, previously served as President of IGY. Under his leadership, IGY has expanded to 23 marinas across 13 countries, including key markets in the Cote d'Azur and the Middle East. English has also grown the IGY Trident Program and advanced strategic alliances. As CEO, he plans to focus on new projects such as IGY Savannah Harbor Marina in the US and Sindalah Island Marina in Saudi Arabia. English's background includes roles at Island Capital Group and experience in management consulting, with involvement in transactions exceeding $10 billion.
Marine Mechanics Institute (MMI) announced that MarineMax, the world's largest recreational boat and yacht retailer, has joined its Tuition Reimbursement Program (TRIP). Under this program, MMI graduates hired by MarineMax can receive up to $10,000 in tuition reimbursement. The Marine Technician Specialist program at MMI prepares students for entry-level jobs in the marine industry, teaching them to work with various types of engines.
MarineMax operates over 130 locations worldwide, including 83 dealerships and 66 marina and storage facilities. The company is actively seeking enthusiastic technicians to support its growth. This partnership aims to provide a launchpad for graduates, enabling them to focus on their careers from day one while addressing the industry's demand for skilled marine technicians.
MarineMax (NYSE: HZO) has entered into an asset exchange agreement with MasterCraft Boat Holdings for the Aviara brand of luxury dayboats. As part of the deal, MarineMax's Cruisers Yachts subsidiary will acquire the rights to the Aviara brand, related intellectual property, molds, tooling, and inventory. MarineMax will also manage existing manufacturer warranties and market the brand.
The agreement does not include Aviara production facilities or personnel. MarineMax has been the primary retail distributor for Aviara since its launch in 2019. The transaction is expected to close within 90 days, subject to customary conditions. MarineMax CEO Brett McGill stated that they will evaluate the production plan for Aviara based on consumer demand, existing manufacturing capacity, and overall strategy as the recreational marine market recovers.
MarineMax (NYSE: HZO) reported its fiscal 2024 third quarter results, showcasing a 5% year-over-year revenue increase to $757.7 million. The company achieved a 4% same-store sales growth and maintained a strong gross margin of 32.0%. Net income for the quarter was $31.6 million, with diluted EPS of $1.37 and adjusted diluted EPS of $1.51. Despite retail headwinds, MarineMax's strategic expansion into high-margin, less cyclical revenue streams has strengthened its financial position. The company reaffirmed its fiscal 2024 guidance, projecting adjusted net income between $2.20 and $3.20 per diluted share and adjusted EBITDA ranging from $155 million to $190 million.
Island Capital Group has issued a third letter to MarineMax, Inc. (NYSE: HZO) shareholders, criticizing the company's management and board for not aligning their interests with shareholders. The letter highlights:
1. MarineMax's stock price has fallen by over 40% in the past three years.
2. EBITDA run rate has decreased by more than $100 million.
3. Senior management compensation exceeds $10 million per year.
4. Island Capital Group proposes selling the YMRS Business to reduce debt and invest in core retail operations.
5. A boat manufacturer plans to tighten inventory terms, potentially compressing margins.
The letter urges management to address concerns about synergies, growth strategy, and cost rationalization initiatives during the upcoming fiscal Q3 earnings call.
MarineMax (NYSE: HZO), the world's largest recreational boat, yacht, and superyacht services company, has announced it will release its third quarter fiscal 2024 financial results on Thursday, July 25, 2024, before the New York Stock Exchange opens. The company will host a conference call at 10:00 a.m. ET on the same day, led by CEO Brett McGill and CFO Mike McLamb.
Investors can access the webcast through the investor relations section of MarineMax's website. A replay will be available online within an hour after the call and archived for one year. For those preferring a live call, dial-in numbers are provided for U.S., Canada, and international participants.
MarineMax (NYSE: HZO), the leading global recreational boat, yacht, and superyacht services company, has responded to recent communications from Island Capital Group. The MarineMax Board of Directors is open to evaluating legitimate opportunities to enhance shareholder value and has engaged with Island Capital on multiple occasions. The company reiterates its commitment to making decisions that serve the best interests of the company and its shareholders.
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