Financial Data and Key Metrics Changes - The company reported record revenue of over $631 million for March, reflecting strong execution and digital marketing efforts [7][17] - Same store sales grew by 11%, driven by aggressive pricing and promotional initiatives [8][19] - GAAP net income for the quarter was $3.3 million, or $0.14 per diluted share, an improvement from the previous year [19] - Adjusted EBITDA for the second quarter was $30.9 million, up 5% year-over-year [20] Business Line Data and Key Metrics Changes - The company experienced historically low margins on new and used boats due to aggressive pricing strategies [9][18] - Diversification into higher margin businesses, such as marinas and superyacht services, has helped mitigate cyclical volatility [9][12] - The gross margin for the quarter was 30%, remaining flat compared to the previous fiscal year [18] Market Data and Key Metrics Changes - The company noted a decline in overall unit volume year-over-year, particularly in the pontoon and value-oriented segments [17][18] - Premium categories performed better, indicating a shift in sales mix towards higher average price point products [17][18] Company Strategy and Development Direction - The company is focused on a customer-centric approach and leveraging technology for competitive advantage [6][7] - Strategic initiatives include selectively closing, consolidating, or expanding locations to align with growth opportunities [10] - The company is committed to building relationships in iconic destinations and enhancing its global superyacht and marina presence [12] Management's Comments on Operating Environment and Future Outlook - Management acknowledged the uncertain economic climate and its impact on retail demand, particularly due to tariffs [6][16] - The company is tempering expectations for near-term growth and recognizing a slower recovery pace in the industry [25] - Despite challenges, management remains confident in the long-term strategic position within the premium segment [25] Other Important Information - The company has been recognized as a great place to work for two consecutive years, highlighting strong team tenure and culture [13] - The balance sheet remains strong, with cash and cash equivalents exceeding $203 million [20] Q&A Session Summary Question: Can you provide details on the disaggregation of the 11% same store sales growth? - Management indicated that the growth was driven by a shift towards premium product mix, despite unit declines in key segments [27][29] Question: What are the direct tariff costs impacting the company? - Management clarified that the guidance reduction is primarily due to macro consumer concerns rather than direct tariff costs [39][40] Question: How is the promotional environment affecting inventory levels? - Management noted that the industry is making progress in clearing aged inventory, with expectations for improved conditions in the summer [48][49] Question: How is consumer demand in the superyacht division? - Management reported strong bookings for the summer season in the Mediterranean, indicating resilience in the superyacht segment [82][84] Question: How does the company view its capital allocation strategy in the current environment? - Management emphasized a prudent approach to acquisitions while focusing on synergies between higher margin businesses [87][88]

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].

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]