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Dec 31, 2019
Marinemax Q1 2020 Earnings Report
Reported record revenue and net income, driven by strong same-store sales growth and effective cost management.
Key Takeaways
MarineMax reported a strong first quarter for fiscal year 2020, with record revenue of $304.2 million, a 26% increase year-over-year. Same-store sales grew by over 24%. Net income nearly doubled to $9.1 million, and earnings per diluted share reached $0.41.
Revenue increased by 26% to $304.2 million compared to the same quarter last year.
Same-store sales were up over 24%, driven by unit growth.
Net income nearly doubled to $9.1 million, with EPS reaching $0.41.
Fiscal year 2020 earnings per diluted share guidance raised to a range of $1.82 to $1.92.
Marinemax
Marinemax
Forward Guidance
The Company is raising its fiscal year 2020 guidance for earnings per diluted share to be in the range of $1.82 to $1.92.
Positive Outlook
- Strong start to the fiscal year.
- Excitement in the industry with a robust slate of upcoming boat shows.
- Pursuing complementary opportunities to expand the business.
- Committed to creating long term value for shareholders.
- Positive results from September 2019 store optimization effort
Challenges Ahead
- Expectations do not take into account material acquisitions.
- Expectations do not give effect for unforeseen events.
- Changes in global economic conditions.
- Ability to reduce inventory.
- Ability to manage expenses and accomplish its goals and strategies.