Company Financials – Page 34
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NewsCovid-related production disruptions lead Mastercraft to $36.7m Q3 loss
March production cutbacks lead to 20% YOY drop in net sales, 32% drop in gross profit
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NewsFLIR Systems announces solid Q1 and intention to keep Raymarine
FLIR Systems CEO Jim Cannon said the Covid-19 pandemic “has resulted in disruptions to our supply chain, as well as significantly reduced sales” Virginia, US-based FLIR Systems Inc released its 2020 first-quarter results on Wednesday, posting a 1.4% year-over-year revenue increase for the quarter on the strength ...
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NewsCoronavirus shutdowns bring lower Q2 sales, income for Johnson Outdoors
Shelter-in-place orders during the Covid-19 pandemic hurt Johnson Outdoors’ watercraft business, which posted a Q2 operating loss of $1.63m Wisconsin, US-based marine equipment manufacturer Johnson Outdoors Inc released its 2020 second-quarter results on May 5, reporting declines in both sales and net income as a result of ...
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NewsLippert reports mixed Q1 results, but says acquisitions still in view
Profitability declined due to coronavirus-related shutdowns offsetting sales gains and an otherwise strong start to FY 2020
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NewsAIG takes major hit from COVID-19 with quarterly profits down 93%
AIG (American International Group), a major player in the international superyacht insurance market, has reported a 93% fall in quarterly adjusted profits largely due to COVID-19, which it describes as “the single largest catastrophe loss the industry has ever seen”. Part of the fall was due to money put aside ...
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NewsKVH Q1 revenues up 1% in spite of Covid-19
Pandemic impacts, uncertain market ahead lead to withdrawal of 2020 guidance
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NewsTwin Disc Q3 results shored up by ‘stable marine demand’
The US-based manufacturer of marine power transmission equipment reported an 11% drop in sales for its third quarter ending 27 March, to $69 million
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NewsBrunswick Q1 ‘resilient’ despite COVID-19 impact
Brunswick Corporation released first quarter 2020 financial results and reported a strong pre-coronavirus performance, with “resilient operating margins despite COVID-19 impact”
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NewsBeneteau responds to crisis
Beneteau has restarted production at three of its sites as half year earnings announced; CEO takes salary reduction, new strategic plan to follow in July to reflect deep transformation of its markets
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NewsPolaris reports a 6% drop in Q1 sales
The outdoor vehicle specialist has withdrawn revenue and earnings guidance for the rest of 2020 but currently thinks the recovery will take ’more of a U shape’ – with demand weakest in the second quarter
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NewsRecord Q1 revenues for Garmin
Garmin Ltd released its 2020 first quarter results on Wednesday, reporting record Q1 revenues and double-digit revenue growth in four of its five operating segments – including a 22% bump in its marine business.
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NewsCovid-19, production adjustments lead to tough Q1 for Marine Products Corp
Marine Products Corp, manufacturer of the Chaparral, Robalo and Vortex fibreglass boat brands, released its 2020 first quarter financial results on Wednesday reporting double-digit declines in net sales, gross profits and operating profits.
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NewsStrong quarter at Grand Banks, but sharp decline expected
After logging new sales in the quarter ending March 31, Grand Banks anticipates a sharp downturn and more layoffs in light of an extended shutdown at its main Malaysian plant
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NewsDometic puts Q1 Covid loss at $40 million
Swedish equipment manufacturer Dometic Group reported Q1 results, noting a severe impact on its business beginning in mid-March and projecting that April would be much worse
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NewsVolvo struggles to define ‘new normal’
The Volvo Group – parent company of Volvo Penta – released financial results for the first quarter of 2020, revealing the severe impact of Covid-19 on the company’s global operations and continued uncertainty about what demand will look like once the crisis subsides. Marine division revenues weakened somewhat towards the ...
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NewsMarineMax Q2 results up; “partially impacted” by coronavirus
The largest national retailer of boats and yachts in the US is reporting slightly improved fiscal second quarter results while bracing for the full impact of the coronavirus pandemic. Nonetheles, MarineMax said it has seen strong online interest and even an uptick in sales for April.
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NewsDutch yard reports strong first-quarter sales
Zeelander Yachts says business was up 30% in the first three months of the year
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NewsNew: IBI Marine Stock Tracker
IBI has compiled a new service for readers on its website tracking more than 20 publicly traded marine companies on stock exchanges around the world.
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NewsMonaco & Ft. Laurderdale show owner taps investors for funding
British-based Informa – a global events organiser and publisher – has turned to investors to raise £1 billion as a defense against the ”significantly deeper, more volatile and wide-reaching impact of the COVID-19 pandemic.”
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NewsMarineMax expects Q2 revenues equal to or above 2019
America’s largest boat retailer announced expected revenues for its second quarter ending 31 March of $303 to $308 million, along with further insights on how the Cornovirus is affecting the company
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