Welcome to our dedicated page for MarineMax US news (Ticker: HZO), a resource for investors and traders seeking the latest updates and insights on MarineMax US stock.
MarineMax (HZO) delivers premium marine retail experiences through boat sales, yacht services, and lifestyle programming. This news hub provides investors and enthusiasts with essential updates shaping the recreational boating sector.
Access timely reports on earnings, product launches, and strategic partnerships alongside regulatory filings and market analyses. Our curated collection includes press releases about marina expansions, service innovations, and industry leadership initiatives.
Key updates cover quarterly financial results, acquisition activity in marine retail, and new dealership openings. Stay informed about HZO's evolving role in yacht brokerage services and marine financing solutions through verified primary sources.
Bookmark this page for streamlined tracking of MarineMax's operational milestones and market positioning within the $54B U.S. recreational boating industry. Check regularly for developments impacting marine retail trends and consumer marine spending patterns.
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.
Island Capital Group issued an updated letter to MarineMax (NYSE: HZO) shareholders, expressing disappointment over the lack of response from MarineMax’s management and board regarding their acquisition proposal for the YMRS Business. The letter highlighted a 19% increase in MarineMax’s stock price, indicating market approval of the proposal. Island Capital, holding a significant stake in MarineMax, believes their proposal would unlock substantial value for shareholders, providing liquidity for debt reduction, growth opportunities, and stock repurchases. The letter urged shareholders to encourage MarineMax’s management to engage in discussions.
Island Capital Group (ICG) has issued an open letter to MarineMax, Inc. (NYSE: HZO) shareholders.
ICG's Andrew L. Farkas criticizes MarineMax's handling of IGY, a company ICG sold to MarineMax in 2022.
Key issues cited include reduced fiscal year 2024 guidance, failure to acquire new assets, and lack of growth initiatives.
ICG proposes acquiring up to 100% of MarineMax's YMRS Business, valuing it at a double-digit EBITDA multiple, and offering substantial cash proceeds for MarineMax. This could help MarineMax repurchase shares, reduce debt, or pursue strategic acquisitions.
