Core Insights - MarineMax, Inc. (NYSE: HZO) is navigating a cautious macroeconomic environment while reporting strong fiscal Q2 earnings [1] - The company has reduced its FY2025 guidance despite the strong earnings performance [1] Financial Performance - MarineMax reported strong fiscal Q2 earnings, indicating resilience in its operations [1] - The specifics of the earnings report were not detailed, but the overall performance was characterized as strong [1] Future Outlook - The company has slashed its FY2025 guidance, suggesting a more conservative outlook moving forward [1]

Financial Performance - Revenue for the three months ended March 31, 2025, was $631.5 million, an increase from $582.9 million in the same period of 2024, representing an 8.3% growth[10] - Net income attributable to MarineMax, Inc. for the three months ended March 31, 2025, was $3.3 million, up from $1.6 million in the same period of 2024, marking a 108.5% increase[10] - Basic net income per common share for the three months ended March 31, 2025, was $0.15, compared to $0.07 for the same period in 2024, indicating a 114.3% increase[10] - Comprehensive income attributable to MarineMax, Inc. for the three months ended March 31, 2025, was $7.1 million, compared to $0.2 million in the same period of 2024[13] - Revenue increased by $48.6 million, or 8.3%, to $631.5 million for the three months ended March 31, 2025, compared to $582.9 million for the same period in 2024[117] - Comparable-store sales increased by $63.0 million, or 11%, primarily driven by increases in new and used boat revenue[117] Assets and Liabilities - Total assets as of March 31, 2025, were $2.67 billion, an increase from $2.61 billion as of September 30, 2024, representing a growth of 2.6%[15] - Total liabilities increased to $1.67 billion as of March 31, 2025, compared to $1.62 billion as of September 30, 2024, reflecting a rise of 3.2%[15] - Cash and cash equivalents decreased to $203.5 million as of March 31, 2025, from $224.3 million as of September 30, 2024, a decline of 9.2%[15] - Total long-term debt as of March 31, 2025, is $374.1 million, a decrease from $391.2 million as of September 30, 2024, representing a reduction of approximately 4.3%[83] - As of March 31, 2025, total indebtedness associated with short-term borrowings and long-term debt was approximately $1.1608 billion[138] Cash Flow - Cash used in operating activities was $73,583 thousand for the six months ended March 31, 2025, an improvement from $111,182 thousand in the same period of 2024[20] - MarineMax's net cash used in investing activities totaled $25,743 thousand for the first half of 2025, compared to $49,889 thousand in the previous year[20] - Cash provided by financing activities was approximately $79.4 million for the six months ended March 31, 2025, compared to $175.4 million for the same period in 2024[132] Acquisitions and Growth Strategy - The company acquired Boatzon, C&C Boat Works, AGY, Williams Tenders USA, Native Marine, and Shelter Bay Marina between January 2023 and March 2025[25] - The company plans to explore acquisition opportunities as part of its growth strategy, subject to macro-economic conditions[109] - The company completed three acquisitions in the fiscal year ending September 30, 2024, and three acquisitions to date in fiscal 2025[105] Operational Metrics - Total inventories as of March 31, 2025, are valued at $973.410 million, an increase of 7.4% from $906.641 million as of September 30, 2024[66] - Revenue from new boat sales constituted 63.8% of total revenue for the three months ended March 31, 2025, compared to 64.3% for the same period in 2024[54] - Revenue from maintenance and repair services was 3.9% of total revenue for the three months ended March 31, 2025, down from 4.2% in the same period of 2024[54] - Retail Operations segment revenue was $626.3 million for the three months ended March 31, 2025, compared to $579.2 million for the same period in 2024[99] Expenses and Profitability - Gross profit for the six months ended March 31, 2025, was $359.2 million, compared to $365.9 million for the same period in 2024, reflecting a decrease of 1.9%[10] - Selling, general, and administrative expenses decreased by $28.0 million, or 8.6%, to $297.5 million for the six months ended March 31, 2025[124] - Interest expense decreased by $0.8 million to $36.9 million for the six months ended March 31, 2025, primarily due to lower interest rates[125] Risks and Challenges - The company faces risks from international operations, including potential impacts from tariffs and geopolitical tensions, which may adversely affect profitability and sales[154] - The company acknowledges that geopolitical and economic uncertainties may materially harm its business and financial performance[155] - The company believes that recent tariff actions by the U.S. could increase costs and decrease demand for its products, particularly in the luxury goods market[156] Stock and Shareholder Information - The company repurchased a total of 536,886 shares at an average price of $23.15 during the month of March 2025, with a maximum of 3,973,403 shares remaining under the repurchase program[160] - The company is authorized to purchase up to $100 million of its common stock through March 31, 2026, as part of its share repurchase program announced on March 11, 2024[165]

Q2 FY 2025 Investor Presentation April 24, 2025 Forward-Looking Statements Information contained in this presentation, other than historical information, should be considered forward-looking as defined in the Private Securities Litigation Reform Act of 1995. These statements are based on current expectations, forecasts, risks, uncertainties, and assumptions that may cause actual results to differ materially from expectations as of the date of this presentation. These risks, assumptions, and uncertainties in ...

MarineMax (HZO) Q2 2025 Earnings Call April 24, 2025 10:00 AM ET Company Participants Scott Solomon - Senior Vice PresidentMichael McLamb - EVP, CFO & SecretaryWilliam Brett McGill - CEO & PresidentMichael Swartz - Director & Equity ResearchJoseph Altobello - Managing DirectorEric Wold - Executive Director, Equity Research Conference Call Participants James Hardiman - Director - Leisure and Travel AnalystAnna Glaessgen - Senior Analyst, ConsumerMichael Albanese - Equity Research Analyst - Recreation & Leisu ...

MarineMax (HZO) Q2 2025 Earnings Call April 24, 2025 10:00 AM ET Company Participants Scott Solomon - Senior Vice PresidentMichael McLamb - EVP, CFO & SecretaryWilliam Brett McGill - CEO & PresidentMichael Swartz - Director & Equity ResearchJoseph Altobello - Managing DirectorEric Wold - Executive Director, Equity Research Conference Call Participants James Hardiman - Director - Leisure and Travel AnalystAnna Glaessgen - Senior Analyst, ConsumerMichael Albanese - Equity Research Analyst - Recreation & Leisu ...

Core Insights - MarineMax reported quarterly earnings of $0.23 per share, exceeding the Zacks Consensus Estimate of $0.16 per share, and showing an increase from $0.18 per share a year ago, representing an earnings surprise of 43.75% [1] - The company achieved revenues of $631.52 million for the quarter ended March 2025, surpassing the Zacks Consensus Estimate by 8.34% and increasing from $582.89 million year-over-year [2] - MarineMax has consistently surpassed consensus EPS estimates over the last four quarters, achieving this four times [2] Financial Performance - The company experienced a significant earnings surprise of 165.38% in the previous quarter, where it was expected to post a loss of $0.26 per share but instead reported earnings of $0.17 [1] - The current consensus EPS estimate for the upcoming quarter is $1.60 on revenues of $775.43 million, and for the current fiscal year, it is $2.41 on revenues of $2.42 billion [7] Market Position - MarineMax shares have declined approximately 33.3% since the beginning of the year, contrasting with the S&P 500's decline of 8.6% [3] - The Zacks Industry Rank indicates that the Retail - Miscellaneous sector is currently in the bottom 43% of over 250 Zacks industries, which may impact MarineMax's stock performance [8] Future Outlook - The company's earnings outlook will be crucial for assessing future stock performance, with mixed trends in estimate revisions noted prior to the earnings release [6] - The Zacks Rank for MarineMax is currently 3 (Hold), suggesting that the shares are expected to perform in line with the market in the near future [6]

Sales ~ ~ Second Quarter Net Income of $3.3 Million; Adjusted Net Income 1 of $5.4 Million ~ ~ Second Quarter Adjusted EBITDA Increased to $30.9 Million ~ ~ Second Quarter Gross Margin of 30.0%; YTD Gross Margin of 32.7% ~ ~ Second Quarter Same-Store Sales Increase of 11% ~ ~ Company Updates Fiscal 2025 Guidance ~ ~ Earnings Conference Call at 10:00 a.m. ET Today ~ OLDSMAR, Florida, April 24, 2025 – MarineMax, Inc. (NYSE: HZO) ("MarineMax" or the "Company"), the world's largest recreational boat and yacht r ...

Core Viewpoint - Value investing remains a preferred strategy for identifying strong stocks across various market conditions, utilizing established valuation metrics to assess potential investments [2][3]. Group 1: Company Overview - MarineMax (HZO) is currently attracting investor attention, holding a Zacks Rank of 2 (Buy) and a Value grade of A [4]. - The stock is trading at a P/E ratio of 8.57, significantly lower than the industry average of 16.29 [4]. - HZO's Forward P/E has fluctuated between a high of 14.44 and a low of 6.56 over the past 12 months, with a median of 10.34 [4]. Group 2: Valuation Metrics - The P/S ratio for HZO is 0.22, compared to the industry average of 0.61, indicating a potential undervaluation [5]. - HZO's P/CF ratio stands at 5.51, which is attractive relative to the industry's average P/CF of 16.97 [6]. - Over the past 52 weeks, HZO's P/CF has ranged from a high of 9.91 to a low of 5.16, with a median of 7.25 [6]. Group 3: Investment Outlook - The combination of HZO's valuation metrics suggests that the stock is likely undervalued, supported by a strong earnings outlook [7].

Group 1 - The company focuses on the boating space, which is considered an unconventional investment area compared to cutting-edge technology [1] - Crude Value Insights provides an investing service centered on oil and natural gas, emphasizing cash flow and the potential for value and growth [1] - The service includes a model account with over 50 stocks, detailed cash flow analyses of exploration and production (E&P) firms, and live discussions about the sector [2] Group 2 - Subscribers can take advantage of a two-week free trial to explore opportunities in the oil and gas industry [3]

Core Viewpoint - MarineMax, Inc. (HZO) reported first-quarter fiscal 2025 results with revenues falling short of estimates while earnings exceeded expectations, indicating challenges in the retail environment and impacts from recent hurricanes [1][4][5]. Financial Performance - Adjusted earnings were reported at 17 cents per share, surpassing the Zacks Consensus Estimate of an adjusted loss of 26 cents, but down from 19 cents in the prior year [4]. - Net sales totaled $468.5 million, missing the consensus estimate of $484 million and reflecting an 11.2% decline year-over-year, primarily due to reduced boat sales and hurricane disruptions [5][6]. - Comparable sales decreased by 11% year-over-year, with retail operations and product manufacturing net sales declining by 10.6% and 17.8%, respectively [5][6]. Margin and Expense Analysis - Gross profit decreased by 3.3% to $169.7 million, yet gross margin improved by 290 basis points year-over-year to 36.2%, driven by a favorable sales mix and contributions from higher-margin businesses [9]. - Adjusted selling, general and administrative (SG&A) expenses fell by 1.5% to $149.4 million, although as a percentage of net sales, SG&A expenses increased by 310 basis points to 31.9% [10][11]. - Adjusted EBITDA was reported at $26.1 million, down 2.2% from the previous year, with an adjusted EBITDA margin of 5.6%, up 50 basis points year-over-year [11]. Balance Sheet and Inventory - As of the end of the fiscal first quarter, the company had cash and cash equivalents of $145 million, long-term debt of $347.3 million, and shareholders' equity of $1 billion [12]. - Inventories increased by 18.1% year-over-year to $1.04 billion, indicating potential challenges in inventory management [12]. Guidance and Market Outlook - The company reaffirmed its fiscal 2025 guidance, expecting adjusted earnings per share between $1.80 and $2.80 and adjusted EBITDA between $150 million and $180 million, despite challenging conditions in the recreational marine industry [13].