Q1 FY 2025 Investor Presentation January 23, 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 ...

Financial Data and Key Metrics - The company has not provided specific financial data or key metrics in the provided content [1][2][3][4] Business Line Data and Key Metrics - No specific data or metrics related to individual business lines were mentioned in the provided content [1][2][3][4] Market Data and Key Metrics - No specific market data or metrics were discussed in the provided content [1][2][3][4] Company Strategy and Industry Competition - The company has not disclosed any specific strategies or competitive positioning in the provided content [1][2][3][4] Management Commentary on Operating Environment and Future Outlook - The company mentioned that forward-looking statements involve risks and uncertainties, including the impact of seasonality, weather, and global economic conditions [4] Other Important Information - The earnings release and supplemental presentation can be found on the company's investor relations website [3] Q&A Session - No Q&A session content was provided in the documents [1][2][3][4]

Financial Performance - Revenue for the three months ended December 31, 2024, was $468,461,000, a decrease of 11.1% compared to $527,274,000 in the same period of 2023[11] - Gross profit for the same period was $169,654,000, down from $175,481,000, reflecting a gross margin of 36.2%[11] - Net income attributable to MarineMax, Inc. increased significantly to $18,066,000, compared to $930,000 in the prior year, resulting in a basic net income per share of $0.80[11] - Comprehensive income attributable to MarineMax, Inc. was $11,436,000, compared to $3,518,000 in the previous year, reflecting improved overall performance[14] - Net income for the three months ended December 31, 2024, was $18,124, compared to $845 in the same period of 2023, representing a significant increase[22] - Revenue decreased by $58.8 million, or 11.2%, to $468.5 million for the three months ended December 31, 2024, compared to $527.3 million for the same period in 2023[121] - Comparable-store sales declined by $57.0 million, or 11%, primarily due to challenging economic trends and the impact of Hurricanes Helene and Milton[121] - Gross profit decreased by $5.8 million, or 3.3%, to $169.7 million, but gross profit as a percentage of revenue increased to 36.2% from 33.3%[122] Assets and Liabilities - Total current assets rose to $1,298,423,000, compared to $1,273,211,000 as of September 30, 2024, driven by an increase in inventories[17] - Cash and cash equivalents decreased to $145,010,000 from $224,326,000, indicating a reduction in liquidity[17] - Total liabilities increased slightly to $1,631,144,000 from $1,618,819,000, with current liabilities totaling $1,091,447,000[17] - MarineMax's retained earnings increased to $796,081,000 from $778,015,000, indicating growth in accumulated profits[17] - The total inventory as of December 31, 2024, was $1.035 billion, an increase from $906.641 million as of September 30, 2024[68] - Short-term borrowings under the Floor Plan totaled approximately $795.2 million as of December 31, 2024, up from $664.9 million as of December 31, 2023[79] - The company's total long-term debt as of December 31, 2024, is $382.5 million, a decrease from $391.2 million as of September 30, 2024[86] Cash Flow - Net cash used in operating activities was $(146,081) for the three months ended December 31, 2024, compared to $(89,095) in the same period of 2023, indicating a higher cash outflow[22] - The company reported a net cash provided by financing activities of $74,692 for the three months ended December 31, 2024, down from $114,342 in the same period of 2023[22] - Cash used in investing activities for the three months ended December 31, 2024, was approximately $6.5 million, down from $17.3 million in 2023[130] - Cash provided by financing activities was approximately $74.7 million for the three months ended December 31, 2024, compared to $114.3 million in 2023[131] Market Presence and Operations - The company operates over 120 locations worldwide, including over 70 retail dealership locations, emphasizing its extensive market presence[24] - The company generated approximately 53% of its dealership revenue from Florida in fiscal 2024, highlighting the importance of this market[29] - Economic conditions, particularly in Florida, significantly impact the company's operations, with local factors affecting consumer spending patterns[29] - The Retail Operations segment includes over 70 retail locations across 21 states, focusing on premium brands and related marine products[116] - The Product Manufacturing segment includes Cruisers Yachts and Intrepid Powerboats, recognized for producing premium sport yachts and customized boats[117] Acquisitions and Growth Strategy - The company acquired Boatzon in January 2023 and C&C Boat Works in June 2023, expanding its digital retail and service capabilities[27] - The company completed three acquisitions in the fiscal year ending September 30, 2024, and two acquisitions to date in fiscal 2025, continuing its growth strategy[109] Expenses and Costs - Selling, general, and administrative expenses decreased by $25.8 million, or 16.5%, to $130.7 million, attributed to changes in fair value of contingent consideration liabilities and cost-saving initiatives[123] - Interest expense increased by $0.3 million to $18.7 million due to higher borrowings from increased inventory levels[124] - The company recognized an income tax provision of $2.1 million for the three months ended December 31, 2024, compared to an income tax benefit of $0.2 million for the same period in 2023[74] Shareholder Information - The weighted average number of diluted shares increased to 23,385,374 from 22,809,017, reflecting share issuance activities[11] - The weighted average common shares outstanding used in calculating basic net income per share increased to 22,615,629 for the three months ended December 31, 2024, from 22,196,141 in 2023[98] - The company has approximately $33.5 million of total unrecognized compensation cost related to non-vested restricted stock awards, expected to be recognized over a weighted average period of 2.3 years[95] - As of December 31, 2024, the company had issued 1,428,555 shares of common stock under its Stock Purchase Plan[97] Risk Factors - The company is exposed to risks from changes in interest rates and foreign currency exchange rates, which may impact earnings and cash flows[141][142] - A hypothetical 100 basis point increase in interest rates would result in an increase of approximately $11.3 million in annual pre-tax interest expense[141] Compliance and Reporting - The report includes the Fourth Amendment to the Credit Agreement dated October 29, 2024, involving MarineMax, Inc. and various lenders[10.1] - The certifications of the Chief Executive Officer and Chief Financial Officer are included as per the Securities Exchange Act of 1934[31.1][31.2] - The document contains inline XBRL instance and taxonomy extension documents for financial reporting purposes[101.INS][101.SCH][101.CAL][101.DEF][101.LAB][101.PRE] - The report is signed by Michael H. McLamb, Executive Vice President and Chief Financial Officer, on January 23, 2025[161] - The company is compliant with the requirements of the Securities Exchange Act of 1934[159] - The Articles of Incorporation and Bylaws of MarineMax, Inc. are referenced in the report[3.1][3.2]

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 ...