UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 2600 McCormick Drive, Suite 200 Clearwater, Florida 33759 (Address of Principal Executive Offices) (ZIP Code) 727-531-1700 (Registrant's Telephone Number, Including Area Code) Securities registered pursuant to Section 12(b) of the Act: FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 FOR THE QUARTERLY PERIOD ENDED MARCH 31, 2022. Commission File Number. 1-14173 MARINEMAX, INC. (Exact Name ...

MarineMax, Inc. (NYSE:HZO) Q2 2022 Earnings Conference Call April 28, 2022 10:00 AM ET Company Participants Dawn Francfort - ICR, IR Mike McLamb - CFO Brett McGill - President & CEO Conference Call Participants Joe Altobello - Raymond James Fred Wightman - Wolfe Research Eric Wold - B. Riley Securities Lucas Servera - Truist Securities James Hardiman - Citi Joseph Nolan - Longbow Research Operator Good morning, and welcome to the MarineMax 2022 Fiscal Second Quarter Conference Call. Today's call is being re ...

PART I. FINANCIAL INFORMATION This section presents the unaudited condensed consolidated financial statements and management's discussion for the three months ended December 31, 2021 [Item 1. Financial Statements](index=3&type=section&id=Item%201.%20Financial%20Statements) Presents MarineMax, Inc.'s unaudited condensed consolidated financial statements for the three months ended December 31, 2021, with comparative data and detailed notes [Condensed Consolidated Statements of Operations](index=3&type=section&id=Condensed%20Consolidated%20Statements%20of%20Operations) Details the company's revenue, gross profit, operating income, and net income for the three months ended December 31, 2021 and 2020 Three Months Ended December 31 (in thousands, except per share data) | Financial Metric | 2020 | 2021 | | :--- | :--- | :--- | | **Revenue** | **$411,524** | **$472,691** | | Gross profit | $123,401 | $167,199 | | Income from operations | $31,984 | $47,202 | | **Net income** | **$23,600** | **$35,943** | | Diluted net income per common share | $1.04 | $1.59 | [Condensed Consolidated Balance Sheets](index=5&type=section&id=Condensed%20Consolidated%20Balance%20Sheets) Provides a snapshot of the company's assets, liabilities, and shareholders' equity as of September 30, 2021, and December 31, 2021 Balance Sheet Data (in thousands) | Account | Sep 30, 2021 | Dec 31, 2021 | | :--- | :--- | :--- | | **Total current assets** | **$517,519** | **$597,915** | | Inventories, net | $230,984 | $325,396 | | **Total assets** | **$1,007,823** | **$1,175,136** | | **Total current liabilities** | **$251,093** | **$379,920** | | Short-term borrowings | $23,943 | $113,461 | | **Total liabilities** | **$412,931** | **$541,784** | | **Total shareholders' equity** | **$594,892** | **$633,352** | [Condensed Consolidated Statements of Cash Flows](index=7&type=section&id=Condensed%20Consolidated%20Statements%20of%20Cash%20Flows) Outlines the cash flows from operating, investing, and financing activities for the three months ended December 31, 2021 and 2020 Cash Flow Summary for Three Months Ended Dec 31 (in thousands) | Cash Flow Activity | 2020 | 2021 | | :--- | :--- | :--- | | Net cash (used in) provided by operating activities | $(12,839) | $8,079 | | Net cash used in investing activities | $(55,177) | $(92,578) | | Net cash provided by financing activities | $33,095 | $78,996 | | **Net decrease in cash and cash equivalents** | **$(34,554)** | **$(5,877)** | [Notes to Condensed Consolidated Financial Statements](index=8&type=section&id=Notes%20to%20Condensed%20Consolidated%20Financial%20Statements) Provides additional information on the company's business, significant acquisitions, accounting policies, and segment reporting - The company is the largest recreational boat and yacht retailer, operating through **79 retail locations in 21 states** as of December 31, 2021[22](index=22&type=chunk) - In November 2021, the company acquired Intrepid, a powerboat manufacturer, and Texas Marine Holdings ("Texas MasterCraft"), a watersports dealer[25](index=25&type=chunk) - Effective May 2, 2021, the company changed its reportable segments to two new segments: Retail Operations and Product Manufacturing, following the acquisition of Cruisers Yachts[34](index=34&type=chunk)[90](index=90&type=chunk) Segment Revenue and Income from Operations (Three Months Ended Dec 31, in thousands) | Segment | Revenue 2021 | Income from Operations 2021 | | :--- | :--- | :--- | | Retail Operations | $454,618 | $45,123 | | Product Manufacturing | $34,244 | $3,443 | | Elimination of intersegment | $(16,171) | $(1,364) | | **Total** | **$472,691** | **$47,202** | [Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations](index=20&type=section&id=Item%202.%20Management's%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations) Management discusses the financial results for the quarter ended December 31, 2021, highlighting revenue growth, margin expansion, liquidity, and capital resources [Consolidated Results of Operations](index=21&type=section&id=Consolidated%20Results%20of%20Operations) Analyzes the company's revenue, gross profit, and selling, general, and administrative expenses for the three months ended December 31, 2021 - Revenue for the three months ended Dec 31, 2021, **increased by $61.2 million (14.9%) to $472.7 million**, compared to the same period in 2020[109](index=109&type=chunk) - The revenue increase was driven by an **8.9% increase in comparable-store sales ($36.6 million)** and a **$24.6 million net increase from acquisitions and manufacturing operations**[109](index=109&type=chunk) - Gross profit margin **increased to 35.4% from 30.0%** year-over-year, primarily due to demand-driven price increases and growth in higher-margin businesses[110](index=110&type=chunk) - Selling, General, and Administrative (SG&A) expenses **increased by 31.3% to $120.0 million**, driven by acquisitions and a business mix shift towards higher-margin businesses that have a higher expense structure[111](index=111&type=chunk) [Liquidity and Capital Resources](index=22&type=section&id=Liquidity%20and%20Capital%20Resources) Discusses the company's cash flow activities, credit facility, and ability to meet short-term and long-term liquidity needs - Cash provided by operating activities was **$8.1 million** for the three months ended Dec 31, 2021, a significant improvement from the **$12.8 million used** in the prior-year period[116](index=116&type=chunk) - Cash used in investing activities was **$92.6 million**, primarily for acquisitions (including Intrepid and Texas MasterCraft) and property and equipment purchases[117](index=117&type=chunk) - The company has a credit facility of up to **$500.0 million**, expiring in July 2024. As of December 31, 2021, the company was in compliance with all covenants[119](index=119&type=chunk)[120](index=120&type=chunk) - Management believes cash from operations and existing capital resources are adequate to meet liquidity needs for at least the next 12 months, excluding potential significant acquisitions[123](index=123&type=chunk) [Item 3. Quantitative and Qualitative Disclosures About Market Risk](index=24&type=section&id=Item%203.%20Quantitative%20and%20Qualitative%20Disclosures%20About%20Market%20Risk) Identifies the company's primary market risks, including interest rate risk and foreign currency exchange rate risk - The company is exposed to interest rate risk on its variable-rate debt. A hypothetical **100 basis point increase** in interest rates would result in an estimated **$1.5 million increase in annual pre-tax interest expense**[127](index=127&type=chunk) - Foreign currency exchange risk exists from purchasing products from European and Chinese manufacturers and from the operations of Fraser Yachts Group and Northrop & Johnson, which have transactions in currencies other than the U.S. dollar[128](index=128&type=chunk)[129](index=129&type=chunk) [Item 4. Controls and Procedures](index=24&type=section&id=Item%204.%20Controls%20and%20Procedures) Details management's evaluation of the company's disclosure controls and procedures, including implementation for new acquisitions - The CEO and CFO concluded that the company's disclosure controls and procedures were effective as of the end of the period covered by the report[131](index=131&type=chunk) - During the quarter, the company began implementing internal controls over financial reporting for the newly acquired Intrepid, which was acquired on November 1, 2021[132](index=132&type=chunk) PART II. OTHER INFORMATION This section covers legal proceedings, risk factors, and exhibits filed with the quarterly report [Item 1. Legal Proceedings](index=25&type=section&id=Item%201.%20Legal%20Proceedings) Addresses ongoing legal actions arising in the ordinary course of business and their expected impact on the company's financials - The company states that ongoing legal actions from the ordinary course of business are not expected to have a material adverse effect on its financial condition or results[137](index=137&type=chunk) [Item 1A. Risk Factors](index=25&type=section&id=Item%201A.%20Risk%20Factors) States that no new material risk factors were reported for the current period - No new risk factors were reported in this quarterly filing[138](index=138&type=chunk) [Item 6. Exhibits](index=26&type=section&id=Item%206.%20Exhibits) Lists the supporting documents and certifications filed with the Form 10-Q - The exhibits include amendments to the company's Loan and Security Agreement and certifications from the CEO and CFO[145](index=145&type=chunk)

Financial Performance - Net sales reached $2.06 billion, a 37% increase[4] - Diluted EPS nearly doubled to $6.78[4] - Gross margin expanded to 32%[4] - Pre-tax CAGR was 39%[4] - Same store sales increased by 13%[4,39] Growth and Expansion - Average store revenue increased by 89% since 2015 to $28.9 million[12] - Marina revenue contributed $31.6 million to high margin growth[14] - Revenue increased 37%[39] Balance Sheet - Cash position was strong at $216.3 million in 2021, compared to $120.9 million in 2020[43] - Tangible net worth was $394 million[27] - Stockholders' equity reached $633.4 million[44]

Financial Data and Key Metrics Changes - Revenue grew 15% to $473 million, driven by same-store sales growth of 9% and contributions from recent acquisitions [29][12] - Gross margins reached a record 35%, an increase of 540 basis points, attributed to improved margins on new and used boat sales and growth in higher-margin businesses [31][21] - Earnings per share (EPS) rose to a record $1.59, up over 50% from $1.04 a year ago [34][12] Business Line Data and Key Metrics Changes - Same-store sales growth was primarily driven by an increase in unit sales, despite industry-wide supply chain challenges [13][29] - The company reported strong performance across all brand categories and geographic regions, with customer deposits exceeding $144 million [14][15] Market Data and Key Metrics Changes - The marine industry continues to see strong consumer demand for boating, with a significant increase in customer deposits [14][56] - The supply chain environment is expected to remain challenging, but improvements were noted as the quarter progressed [16][38] Company Strategy and Development Direction - The company is focused on enhancing customer experiences through strategic growth plans, including acquisitions and expanding higher-margin businesses [19][26] - The management emphasized the importance of digital capabilities and marketing strategies to adapt to changing customer expectations [17][18] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in continued growth despite supply chain uncertainties, expecting mid-single-digit same-store sales growth and mid-teens total annual revenue growth [40][38] - The company anticipates modest gross margin pressure due to inflationary pressures but believes it can mitigate these effects [41][40] Other Important Information - The company has a strong balance sheet with over $216 million in cash and a current ratio of 1.57, providing a strategic advantage for future expansions [35][37] - Recent acquisitions, including Texas MasterCraft and Intrepid Powerboats, are expected to contribute positively to revenue and margins [23][63] Q&A Session Summary Question: Can you discuss the unit delivery cycle and January same-store sales? - Management indicated that while they expect positive same-store sales growth in January, supply chain challenges remain unpredictable [48] Question: Thoughts on share buybacks given current valuations? - Management acknowledged the potential for share buybacks while also considering long-term growth through acquisitions [50] Question: Insights on dealer traffic and first-time boaters? - Demand remains strong, with high levels of first-time boaters entering the market, although some hot models have long wait times [55] Question: Inventory levels and expectations for 2022? - Management expects inventory levels to remain lean, with potential increases if supply chain issues improve [62] Question: EPS guidance and contributions from recent acquisitions? - The guidance includes an estimated contribution of around $0.20 from the recent acquisitions for the full year [63] Question: Plans for monetizing waterfront real estate? - Management is exploring opportunities to leverage their real estate holdings, with a focus on acquiring properties at favorable valuations [64] Question: Confidence in consumer ability to pay higher prices? - Management noted that demand remains strong despite price increases, with high single-digit to double-digit price increases expected [77]

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, DC 20549 Form 10-K ☑ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended September 30, 2021 Commission File Number 1-14173 MarineMax, Inc. (Exact Name of Registrant as Specified in Its Charter) Florida 59-3496957 (State of Incorporation) (I.R.S. Employer Identification No.) 2600 McCormick Drive Suite 200 Clearwater, Florida 33759 (727) 531-1700 (Address, including zip code, and telephone n ...

MarineMax, Inc. (NYSE:HZO) Q4 2021 Earnings Conference Call October 26, 2021 10:00 AM ET Company Participants Dawn Francfort - ICR, Investor Relations Mike McLamb - Chief Financial Officer Brett McGill - President & Chief Executive Officer Conference Call Participants Mike Swartz - Truist Eric Wold - B. Riley Scott Stember - C.L. King Sean Wagner - Wedbush Securities Joe Nolan - Longbow Research Operator Good morning and welcome to MarineMax Inc. 2021 Fiscal Fourth Quarter and Year-End Conference Call. Toda ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 FOR THE QUARTERLY PERIOD ENDED JUNE 30, 2021. Commission File Number. 1-14173 MARINEMAX, INC. 2600 McCormick Drive, Suite 200 Clearwater, Florida 33759 (Address of Principal Executive Offices) (ZIP Code) 727-531-1700 (Registrant's Telephone Number, Including Area Code) Securities registered pursuant to Section 12(b) of the Act: | Title of e ...

MarineMax, Inc. (NYSE:HZO) Q3 2021 Earnings Conference Call July 22, 2021 10:00 AM ET Company Participants Dawn Francfort - ICR, Investor Relations Michael McLamb - Executive Vice President, Chief Financial Officer, Secretary & Director Brett McGill - President, Chief Executive Officer & Director Conference Call Participants Joseph Altobello - Raymond James & Associates James Hardiman - Wedbush Securities Eric Wold - B. Riley Securities Joe Nolan - Longbow Research Operator Good morning, and welcome to the ...

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