Plus   Neg

MarineMax Q4 Profit Rises

MarineMax Inc. (HZO) reported that its net income for the fourth-quarter ended September 30, 2018, was $11.5 million or $0.50 per share, compared to net income of $3.9 million, or $0.17 per diluted share in the comparable period last year.

Excluding the impact from the gain in 2018 and the unusual items in 2017, adjusted earnings per share for the quarter ended September 30, 2018 increased 105% to $0.45, compared with adjusted diluted earnings per share for the same period last year.

For the quarter ended September 30, 2018, revenue increased over 23% to $309 million from $251 million for the comparable quarter last year. Same-store sales for the quarter grew 22%, on top of 5% growth for the comparable period last year.

Analysts polled by Thomson Reuters expected the company to report earnings of $0.23 per share and revenues of $273.31 million for the quarter. Analysts' estimates typically exclude special items.

The company currently expects fully taxed earnings per share to be in the range of $1.85 to $1.95 for fiscal 2019. This compared to a non-GAAP adjusted diluted earnings per share of $1.70 in fiscal 2018. Analysts expect annual earnings of $1.68 per share.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
Facebook has unveiled Instagram Reels as its answer to the popular Chinese-owned video app TikTok. The social media giant said in a blog post that Instagram Reels is a new way to create short, entertaining videos on Facebook's photo-sharing app Instagram. Facebook reportedly shut down its TikTok clone Lasso in July, ahead of the launch of Instagram Reels. WD-40 Company recalled about 130,000 units of X-14 Mildew Stain Remover for potential risk of skin irritation, a statement by the U.S. Consumer Product Safety Commission (CPSC) showed. The company said pressure can build up inside the bottle and cause it to fall over and leak, posing a risk of skin irritation. Biopharmaceutical company Bristol-Myers Squibb Co. on Thursday reported a loss for the second quarter, compared to a profit last year, hurt primarily by hefty amortization expenses. However, adjusted earnings per share and quarterly revenues topped analysts' expectations. Looking ahead, the company raised its adjusted earnings and revenue outlook for the full-year 2020.
Follow RTT