MarineMax, Inc. Reports Unaudited Consolidated Earnings Results for the First Quarter Ended December 31, 2017; Raises Earnings Guidance for the Fiscal Year 2018
January 24, 2018 at 06:45 am EST
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MarineMax, Inc. reported unaudited consolidated earnings results for the first quarter ended December 31, 2017. For the quarter, revenue was $236,921,000 against $226,875,000 a year ago. Income from operations was $9,003,000 against $6,043,000 a year ago. Income before income tax provision was $6,461,000 against $4,474,000 a year ago. Net income was $4,212,000 against $688,000 a year ago. Diluted net income per common share was $0.19 against $0.11 a year ago.
Based on current business conditions, the recently passed tax legislation, retail trends and other factors, the Company is raising its annual guidance expectations for fully taxed earnings per diluted share to be in the range of $1.30 to $1.40 for fiscal 2018 from its previous guidance of $1.10 to $1.20. These expectations do not take into account or give effect for future material acquisitions that may be completed by the Company during the fiscal year or other unforeseen events.
MarineMax, Inc. is a recreational boat, yacht, and superyacht services company. The Company offers new and used recreational boats and related marine products, including engines, trailers, parts, and accessories. It operates through two segments: Retail Operations and Product Manufacturing. The Retail Operations segment includes the sale of new and used recreational boats, including pleasure and fishing boats, with a focus on premium brands in each segment. The Product Manufacturing segment includes the activity of Cruisers Yachts and Intrepid Powerboats. The Company also assists in arranging related boat financing, insurance, and extended service contracts; provide boat maintenance and repair services; offer slip and storage accommodations; provide boat and yacht brokerage sales; and conduct a yacht charter business. The Company operates over 130 locations worldwide, including 82 dealerships and 66 marina and storage facilities. In addition, it operates MarineMax Vacations in Tortola.
MarineMax, Inc. Reports Unaudited Consolidated Earnings Results for the First Quarter Ended December 31, 2017; Raises Earnings Guidance for the Fiscal Year 2018