Core Insights - MarineMax reported revenue of $468.46 million for the quarter ended December 2024, reflecting a year-over-year decline of 11.2% [1] - The company's EPS for the same period was $0.17, down from $0.19 a year ago, with a significant EPS surprise of +165.38% compared to the consensus estimate of -$0.26 [1] Revenue and Earnings Performance - The reported revenue fell short of the Zacks Consensus Estimate of $483.68 million, resulting in a surprise of -3.15% [1] - Same-store sales growth was -11%, slightly better than the two-analyst average estimate of -11.5% [4] - Revenue from Retail Operations was $468.35 million, compared to the two-analyst average estimate of $493.95 million, marking a year-over-year decline of 10.6% [4] - Revenue from the elimination of intersegment revenue was -$37.83 million, worse than the average estimate of -$28.35 million, representing a year-over-year change of -11.9% [4] - Revenue from Product Manufacturing was $37.94 million, exceeding the two-analyst average estimate of $30.55 million, but showing a year-over-year decline of 17.8% [4] Stock Performance - MarineMax shares have returned -2.1% over the past month, contrasting with the Zacks S&P 500 composite's +2.7% change [3] - The stock currently holds a Zacks Rank 4 (Sell), indicating potential underperformance relative to the broader market in the near term [3]

分组1 - MarineMax reported quarterly earnings of $0.17 per share, exceeding the Zacks Consensus Estimate of a loss of $0.26 per share, representing an earnings surprise of 165.38% [1] - The company posted revenues of $468.46 million for the quarter ended December 2024, missing the Zacks Consensus Estimate by 3.15%, and down from $527.27 million year-over-year [2] - Over the last four quarters, MarineMax has surpassed consensus EPS estimates three times, but has topped consensus revenue estimates only once [2] 分组2 - The stock has underperformed the market, losing about 3.5% since the beginning of the year, while the S&P 500 has gained 3.5% [3] - The current consensus EPS estimate for the coming quarter is $0.18 on revenues of $577.66 million, and for the current fiscal year, it is $2.25 on revenues of $2.43 billion [7] - The Zacks Industry Rank indicates that the Retail - Miscellaneous sector is currently in the top 15% of over 250 Zacks industries, suggesting a favorable outlook for the industry [8]

Revenue Performance - December quarter revenue decreased 11.2% to $468.5 million from $527.3 million in the same period of fiscal 2024[7] - Revenue for the three months ended December 31, 2024, was $468,461 thousand, a decrease of 11.1% from $527,274 thousand in the same period of 2023[24] Same-Store Sales - Same-store sales decreased by 11% year-over-year[6] Profitability - Net income for the December quarter was $18.1 million, or $0.77 per diluted share, compared to $0.9 million, or $0.04 per diluted share, in the same period last year[11] - Adjusted net income attributable to MarineMax, Inc. was $4,062 thousand for the three months ended December 31, 2024, compared to $4,441 thousand in 2023, reflecting a decrease of 8.5%[25] - Diluted net income per common share increased to $0.77 for the three months ended December 31, 2024, from $0.04 in 2023[25] EBITDA - Adjusted EBITDA for the first quarter was $26.1 million, slightly down from $26.6 million in the prior-year period[11] - Adjusted EBITDA for the three months ended December 31, 2024, was $26,057 thousand, slightly down from $26,646 thousand in 2023[27] Expenses - Selling, general, and administrative (SG&A) expenses totaled $130.7 million, or 27.9% of revenue, down from $156.5 million, or 29.7% of revenue, in the same period last year[9] - Interest expense increased to $18.7 million, or 4.0% of revenue, compared to $18.4 million, or 3.5% of revenue, in the prior-year period[10] - Interest expense (excluding floor plan) rose to $8,401 thousand in Q4 2024, compared to $7,756 thousand in Q4 2023[27] - The company incurred restructuring expenses of $503 thousand in Q4 2024, while there were no such expenses in the same period of 2023[27] Inventory and Demand - The company experienced higher inventory levels at quarter-end compared to expectations due to lower demand and hurricane disruptions[3] Guidance - The company reaffirms fiscal year 2025 guidance for adjusted net income in the range of $1.80 to $2.80 per diluted share and adjusted EBITDA between $150 million and $180 million[13] - The company has not provided reconciliations for forward-looking Adjusted net income and Adjusted EBITDA guidance due to high variability and difficulty in making accurate forecasts[29] Weather and Other Expenses - Weather expenses for the three months ended December 31, 2024, were $4,968 thousand, recovering from a loss of $289 thousand in 2023[27] - The change in fair value of contingent consideration resulted in a loss of $25,817 thousand in Q4 2024, compared to a gain of $219 thousand in 2023[27] Cost Management - The company continues to focus on expense-reduction initiatives, including the divestiture or closure of three locations[5]

The upcoming report from MarineMax (HZO) is expected to reveal quarterly loss of $0.31 per share, indicating a decline of 263.2% compared to the year-ago period. Analysts forecast revenues of $483.68 million, representing a decrease of 8.3% year over year.The current level reflects a downward revision of 13.9% in the consensus EPS estimate for the quarter over the past 30 days. This demonstrates how the analysts covering the stock have collectively reappraised their initial projections over this period.Befo ...

The market expects MarineMax (HZO) to deliver a year-over-year decline in earnings on lower revenues when it reports results for the quarter ended December 2024. This widely-known consensus outlook is important in assessing the company's earnings picture, but a powerful factor that might influence its near-term stock price is how the actual results compare to these estimates.The earnings report might help the stock move higher if these key numbers are better than expectations. On the other hand, if they mis ...

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UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, DC 20549 MARINEMAX, INC. Foreign Currency Transactions For the Company's foreign subsidiaries that use a currency other than the U.S. dollar as their functional currency, the assets and liabilities are translated at exchange rates in effect at the balance sheet date, and revenues and expenses are translated at the weighted average exchange rate for the period. The effects of these translation adjustments are reported in accumulated other comprehen ...

Financial Data and Key Metrics Changes - Fiscal 2024 revenue increased approximately 2% from the prior year to $2.4 billion, with a 1% increase in comparable store sales [9][21] - Fourth quarter revenue was approximately $563 million, reflecting a 5% decline in same-store sales due to Hurricane Helene [17][21] - Adjusted net income for the quarter was $5.5 million or $0.24 per diluted share, compared to $15.8 million or $0.69 per diluted share last year [21] - Full-year adjusted net income was $49.1 million or $2.13 per diluted share [22] - Fourth quarter adjusted EBITDA was $33.5 million compared to $42.6 million last year, with full-year adjusted EBITDA at $160.2 million [22] Business Line Data and Key Metrics Changes - Despite the storm's impact, the company maintained a healthy gross margin of 34% in the fourth quarter, reflecting performance in higher-margin businesses such as finance and insurance [11][19] - Adjusted SG&A expenses declined by more than $5 million in the fourth quarter due to ongoing expense reduction initiatives [12][19] Market Data and Key Metrics Changes - Most markets experienced revenue increases except Florida, which was significantly impacted by the hurricanes [18] - On a same-store basis, comparable unit inventories are roughly 30% below 2019 levels [23] Company Strategy and Development Direction - The company remains focused on enhancing operating leverage and expanding into higher-margin operations [11][12] - Strategic steps include streamlining the store network and leveraging best practices to realize synergies across the organization [34] - The company has completed 20 acquisitions over the past five years, representing about $700 million of high-margin revenue [33] Management Comments on Operating Environment and Future Outlook - Management acknowledged the challenges posed by Hurricanes Helene and Milton, which have disrupted operations and impacted revenue [9][17] - The company expects same-store sales in fiscal 2025 to be essentially flat, with consolidated margins in the low 30s [27][28] - Management expressed cautious optimism about improving industry inventory levels and potential interest rate declines [27][28] Other Important Information - The company incurred a charge of $4.7 million in the fourth quarter to write off assets damaged in Hurricane Helene [20] - Cash and cash equivalents were over $224 million at year-end, with a debt-to-EBITDA ratio of about one-time net of cash [23][25] Q&A Session Summary Question: Impact of Hurricane Helene on fourth quarter - Management estimated a $30 million top-line impact and a $6 million bottom-line impact from Hurricane Helene [38][39] Question: Guidance for fiscal 2025 - Guidance assumes recovery from current disruptions, with the West Coast of Florida being a critical market [40][41] Question: Retail financing rates - Retail financing rates are down year-over-year by approximately 100 basis points, with expectations for further benefits in 2025 [44][45] Question: Retail inventory levels - Management noted elevated inventory levels across the industry, with expectations for pressure on margins [51][52] Question: Promotional activity in the market - High promotional activity is anticipated as dealers aim to reduce inventory, which may pressure margins [56][57] Question: Service side of the business - The service side is expected to perform well due to reconstruction efforts post-hurricanes, providing opportunities for revenue growth [91][92]

UNITED by WATER MARINEMAX | --- | --- | --- | --- | --- | --- | --- | --- | --- | |-------|-------|-------|-------|-------|-------|-------|-------------------|-------| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Q4 and FY 2024 | | | | | | | | | | | | | | | | | | | | Financial Results | | | | | | | | | | October 31, 2024 | | | | | | | | | | | | | | | | | | | | | | Forward-Looking Statements Information contained in this presentation, other than historical information, should b ...

MarineMax (HZO) reported $563.12 million in revenue for the quarter ended September 2024, representing a year-over-year decline of 5.3%. EPS of $0.24 for the same period compares to $0.69 a year ago. The reported revenue represents a surprise of -1.64% over the Zacks Consensus Estimate of $572.5 million. With the consensus EPS estimate being $0.18, the EPS surprise was +33.33%. While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall St ...