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, the largest recreational boat and yacht services company, reported fiscal Q2 results ending March 31, 2023. Revenue decreased 7% to $570.3 million, down from $610.1 million a year ago, largely due to a dip in boat sales amid seasonal trends and economic uncertainty. Despite this, gross margin reached a record 35.2%, aided by strategic acquisitions, including IGY Marinas. Net income fell to $30.0 million or $1.35 per diluted share, down from $53.5 million in Q2 2022. Adjusted EBITDA was $57.4 million. The company revised its fiscal 2023 guidance, now expecting Adjusted earnings between $4.90 and $5.50 per share. CEO Brett McGill highlighted ongoing strong demand and a historically high backlog as positive indicators for future performance.
MarineMax, Inc. (NYSE: HZO) is set to announce its second quarter fiscal 2023 financial results on April 27, 2023, before the market opens. A conference call will follow at 10:00 a.m. ET, hosted by CEO Brett McGill and CFO Mike McLamb. The call can be accessed via the Company's investor relations website, and a replay will be available shortly after the call concludes. MarineMax, the largest recreational boat and yacht services company, operates over 125 locations globally, including dealerships and marinas. The company integrates various high-end services, including yacht brokerage and vacation charters in the British Virgin Islands. This forthcoming financial disclosure is anticipated to provide insights into the company's performance in the recreational boating market.
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