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Mar 31, 2022
Marinemax Q2 2022 Earnings Report
Reported record second quarter results with revenue growth driven by same-store sales and strategic acquisitions.
Key Takeaways
MarineMax reported record second quarter results with a 17% increase in revenue to $610.1 million. Same-store sales grew by 7% on top of a 45% increase in the comparable quarter last year. Net income increased by 37% to $53.5 million, and earnings per diluted share increased by 40% to $2.37.
Revenue increased 17% to a record $610.1 million.
Same-store sales grew 7% on top of 45% growth in the prior year's quarter.
Net income increased 37% to $53.5 million.
Earnings per diluted share increased 40% to $2.37.
Marinemax
Marinemax
Marinemax Revenue by Segment
Revenue by Segment
Retail Operations Revenue
CapyFin.comProduct Manufacturing Revenue
CapyFin.com Forward Guidance
The company is raising its fiscal year 2022 guidance for earnings per diluted share to a range of $7.90 to $8.30, which is increased from its previously provided guidance of $7.60 to $8.00 per diluted share.
Positive Outlook
- Strong demand and backlog provide continued confidence for the balance of fiscal 2022 and beyond.
- Boating is expected to be one of the beneficiaries of a changed world.
- Scale, global presence, product diversification, technology advancements, strong balance sheet, and cycle tested team will be leveraged.
- Robust operating leverage, significant cash flow, and strong consumer demand will support sustainable internal and acquisition growth.
- Focus on growing higher margin and recurring revenue.
Challenges Ahead
- Expectations do not consider material acquisitions that may be completed during fiscal 2022.
- Expectations do not give effect for other unforeseen events, including changes in global economic conditions.
- Potential risks, assumptions, and uncertainties may cause actual results to differ materially from expectations.
- COVID-19 impacts on the company’s business, employees, and manufacturing partners.
- Potential supply chain constraints.
Revenue & Expenses
Visualization of income flow from segment revenue to net income