MarineMax Q2 Earnings Smashes Estimates, Boosts FY22 EPS Outlook
Benzinga
Published Apr 28, 2022 17:15
Updated Apr 28, 2022 18:11
MarineMax Q2 Earnings Smashes Estimates, Boosts FY22 EPS Outlook
- MarineMax Inc (NYSE: HZO) reported second-quarter FY22 sales growth of 17% year-on-year to $610.11 million, beating the consensus of $541.34 million.
- Same-store sales rose 7% versus 45% growth in the comparable quarter last year.
- EPS of $2.37 beat the analyst consensus of $1.78.
- Gross profit rose 30.9% Y/Y to $205.3 million, and the margin expanded 370 basis points to 33.7%.
- Selling, general and administrative expenses increased 28.5% Y/Y to $133.5 million.
- Operating margin was 11.8%, and the operating income for the quarter rose 35.7% to $71.8 million.
- Cash and equivalents totaled $219.4 million as of March 31, 2022.
- Outlook: MarineMax raised FY22 EPS guidance to $7.90 - $8.30 from the previous view of $7.60 - $8.00, versus the consensus of $7.88.
- Price Action: HZO shares traded higher by 4.69% at $37.94 on the last check Thursday.
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