MarineMax, Inc. (HZO), a recreational boat and yacht retailer, Thursday reported higher profit for the second quarter primarily helped by increase in boat sales. Earnings as well as revenue beat the Street expectations.
However, the company has slashed its full-year profit outlook citing uncertainty surrounding global tariff increase and shifts in retail trends.
Net income was $3.3 million, or $0.14 per share for the second quarter, higher than $1.6 million, or $0.07 per share, in the same period last year.
Excluding one-time items, adjusted earnings were $5.4 million, or $0.23 per share, better than the analysts' average estimate of $0.19 per share. Analysts' estimates typically exclude special items.
Revenue for quarter increased 8.3% to $631.5 million from $582.9 million in the comparable period last year. The consensus estimate as for $578.77 million.
On a comparable same-store basis, revenue increased 11%.
For fiscal 2025, the company has lowered its adjusted EPS outlook to $1.40 - $2.40 from $1.80 - $2.80. Analysts expect EPS of $2.28 for the year.
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