MarineMax raises earnings guidance based on record Q1 results

> Subscriber-only, By Arlene Sloan2020-01-23T16:53:00

America’s largest recreational boat and yacht retailer announced 26% growth for the quarter ending December 31 and has boosted its guidance for full 2020 earnings by 15%. The company’s share price jumped 20% in early trading in response to the news.

MarineMax reported today that revenues increased 26% to $304.2 million for its first quarter ending December 31, 2019, up from $241.9 million in the comparable period last year. With 59 locations across the US, the national boat retailer said same-store sales were also up strongly – more than 24% during the quarter – supported “entirely by unit sales.” Speaking on a webcast with analysts two hours ago, Chief Financial Officer Mike McLamb said the company’s results were…

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