Latest news with #MarineMax
Yahoo
a day ago
- Business
- Yahoo
Ace River Capital Partners Increased its Position in MarineMax (HZO) in Q2
Ace River Capital, an investment management company, released its second-quarter 2025 investor letter. The fund returned -5.33% in the second quarter. A copy of the letter can be downloaded here. The fund underperformed this quarter, primarily due to difficulties in several key holdings, despite no significant changes to the fundamental value of the businesses. The firm's focus continues to be on a select group of high-quality small-cap companies that have sustainable economics, strong management, and the capacity to reinvest profitably. In addition, you can check the fund's top 5 holdings to determine its best picks for 2025. In its second-quarter 2025 investor letter, Ace River Capital highlighted stocks such as MarineMax, Inc. (NYSE:HZO). MarineMax, Inc. (NYSE:HZO) is a recreational boat and yacht retailer and superyacht services company. The one-month return of MarineMax, Inc. (NYSE:HZO) was -13.51%, and its shares lost 19.38% of their value over the last 52 weeks. On August 8, 2025, MarineMax, Inc. (NYSE:HZO) stock closed at $22.47 per share, with a market capitalization of $482.287 million. Ace River Capital stated the following regarding MarineMax, Inc. (NYSE:HZO) in its second quarter 2025 investor letter: "MarineMax, Inc. (NYSE:HZO): HZO faced pressure this quarter as retail boat sales continue to normalize post-COVID, compounded by higher interest rates. That said, the company is quietly transforming its business model by increasing its mix of service, storage, and marina operations—higher-margin, recurring revenue streams that improve business quality and reduce cyclicality. The market seems focused on the next quarter. We're focused on the next few years. We added slightly to our position at what we believe are attractive long-term prices." A large yacht sailing in the open sea with passengers enjoying the sunset. MarineMax, Inc. (NYSE:HZO) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 15 hedge fund portfolios held MarineMax, Inc. (NYSE:HZO) at the end of the first quarter, which was 21 in the previous quarter. While we acknowledge the potential of MarineMax, Inc. (NYSE:HZO) as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock. In another article, we covered MarineMax, Inc. (NYSE:HZO) and shared Ace River Capital's views on the company in the previous quarter. In addition, please check out our hedge fund investor letters Q2 2025 page for more investor letters from hedge funds and other leading investors. READ NEXT: The Best and Worst Dow Stocks for the Next 12 Months and 10 Unstoppable Stocks That Could Double Your Money. Disclosure: None. This article is originally published at Insider Monkey. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
26-07-2025
- Business
- Yahoo
MarineMax Third Quarter 2025 Earnings: Misses Expectations
MarineMax (NYSE:HZO) Third Quarter 2025 Results Key Financial Results Revenue: US$657.2m (down 13% from 3Q 2024). Net loss: US$52.1m (down by 265% from US$31.6m profit in 3Q 2024). US$2.42 loss per share (down from US$1.42 profit in 3Q 2024). This technology could replace computers: discover the 20 stocks are working to make quantum computing a reality. All figures shown in the chart above are for the trailing 12 month (TTM) period MarineMax Revenues and Earnings Miss Expectations Revenue missed analyst estimates by 11%. Earnings per share (EPS) was also behind analyst expectations. Looking ahead, revenue is forecast to grow 4.1% p.a. on average during the next 3 years, compared to a 5.3% growth forecast for the Specialty Retail industry in the US. Performance of the American Specialty Retail industry. The company's shares are down 5.1% from a week ago. Risk Analysis Don't forget that there may still be risks. For instance, we've identified 1 warning sign for MarineMax that you should be aware of. Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Business Wire
24-07-2025
- Business
- Business Wire
MarineMax Reports Fiscal 2025 Third Quarter Results
OLDSMAR, Fla.--(BUSINESS WIRE)--MarineMax, Inc. (NYSE: HZO) ('MarineMax' or the 'Company'), the world's largest recreational boat and yacht retailer, marina operator and superyacht services company, today announced results for its fiscal 2025 third quarter ended June 30, 2025. Fiscal 2025 Third Quarter Summary June quarter revenue of $657.2 million Same-store sales down 9% Gross profit of 30.4% Net loss of $52.1 million, or $2.42 per share, includes a non-cash goodwill impairment charge of $69.1 million; Adjusted diluted EPS 1 of $0.49 Adjusted EBITDA 1 of $35.5 million CEO & President Commentary 'A combination of ongoing economic uncertainty, evolving trade policies and geopolitical tensions contributed to weak retail demand across the recreational marine industry in the June quarter,' said Brett McGill, Chief Executive Officer and President of MarineMax. 'Business conditions have been challenging throughout the fiscal year, with increasing consumer caution since April, particularly among prospective new boat buyers, many of whom are delaying their purchases until conditions improve. 'Importantly, our continued diversification efforts have helped to offset some of the pressures on new boat margins during the fiscal year,' McGill said. 'Our 31.8% gross margin through the first nine months of fiscal 2025 included strong contributions from our higher-margin growth areas, including finance and insurance, marinas and superyacht services. Our marina portfolio, anchored by our prestigious IGY Marinas brand, continues to expand its reach. This momentum is reflected in the recent opening of the new state-of-the-art IGY Savannah Harbor Marina and IGY's selection as the marina operator for the upcoming Wynn Al Marjan Island Marina in the United Arab Emirates. These milestones underscore our team's commitment to operational excellence, world-class service, and leadership in global marina management. 'Although industry inventory levels remain elevated due to softer sales in the June quarter, we expect improvement ahead, with forecasts indicating a gradual rebalancing beginning in the back half of calendar 2025,' McGill said. 'Recent developments such as the new tax legislation, easing geopolitical tensions, and the prospect of trade agreements, may help reduce some of the uncertainty that has weighed on consumer confidence. Encouragingly, interest in the boating lifestyle remains strong as demonstrated by attendance at our events as well as marina demand, and online activity.' Fiscal 2025 Third Quarter Results Revenue in the fiscal 2025 third quarter declined 13.3% to $657.2 million from $757.7 million a year earlier, primarily due to lower new boat sales partly offset by stronger used boat sales and growth in many of the Company's higher-margin businesses. Same-store sales were down 9% compared with the prior year. Gross profit decreased 17.6% to $199.6 million from $242.1 million in the prior-year period. Gross profit margin of 30.4% decreased 160 basis points from 32.0% in the comparable period last year, primarily reflecting lower new boat margins due to the challenged retail environment. Selling, general, and administrative (SG&A) expenses totaled $172.1 million, or 26.2% of revenue, in the third quarter, compared with $181.1 million, or 23.9% of revenue, for the comparable period last year. Excluding transaction and other costs, intangible amortization, changes in contingent consideration, weather events, and restructuring expense in the respective periods, Adjusted SG&A 2 decreased $6.6 million, or 3.7%, in the third quarter of fiscal 2025 from the same period in fiscal 2024. Interest expense was $16.9 million, or 2.6% of revenue in the third quarter, compared with $18.2 million, or 2.4% of revenue in the prior-year period, reflecting lower interest rates compared with the third quarter of fiscal 2024. Net loss in the third quarter of fiscal 2025 was $52.1 million, or $2.42 per share, which includes a non-cash goodwill impairment charge of $69.1 million associated with the Company's manufacturing segment. The impairment charge was required due to the decline in the Company's market capitalization in the quarter, combined with a decline in the manufacturing segment's performance due to the challenging environment. For the comparable period of fiscal 2024, MarineMax reported net income of $31.6 million, or $1.37 per diluted share. Adjusted net income 1 in the third quarter of fiscal 2025 was $11.0 million, or $0.49 per adjusted diluted share, compared with $34.8 million, or $1.51 per diluted share, in the prior-year period. Adjusted EBITDA 1 for the quarter ended June 30, 2025, was $35.5 million, compared with $70.4 million for the comparable period last year. Revised Fiscal 2025 Guidance Based on results to date, current business conditions, retail trends and other factors, the Company is revising its fiscal year 2025 guidance. Adjusted net income 1,3 is now expected to be in the range of $0.45 to $0.95 per diluted share, compared with a prior range of $1.40 to $2.40 per diluted share. Adjusted EBITDA 1,3 is expected to be in the range of $105 million to $120 million, compared with a prior range of $140 million to $170 million. These expectations do not consider or give effect for, among other things, material acquisitions that may be completed by the Company during fiscal 2025 or other unforeseen events, including changes in global economic conditions. 'While our near-term outlook is cautious due to the ongoing economic uncertainty, we are confident that our overarching strategy will drive operational resilience. Our solid balance sheet positions us well to navigate the current market volatility,' McGill said. 'This management team has successfully guided the Company through many challenging economic cycles. As the recovery takes hold, we believe our long-term earnings power will be significantly enhanced by our growing presence in higher-margin businesses and by the resilient consumer demand for the boating lifestyle.' Conference Call Information MarineMax will discuss its fiscal 2025 third quarter financial results on a conference call starting at 10:00 a.m. ET today. The conference call can be accessed via the 'Investors' section of the Company's website or by dialing 877-407-0789 (U.S. and Canada) or 201-689-8562 (International). An online replay will be available within one hour of the conclusion of the call and will be archived on the website for one year. About MarineMax As the world's largest recreational boat and yacht retailer, marina operator and superyacht services company, MarineMax (NYSE: HZO) is United by Water. We have over 120 locations worldwide, including over 70 dealerships and 65 marina and storage facilities. Our integrated business includes IGY Marinas, which operates luxury marinas in yachting and sport fishing destinations around the world; Fraser Yachts Group and Northrop & Johnson, leading superyacht brokerage and luxury yacht services companies; Cruisers Yachts, one of the world's premier manufacturers of premium sport yachts, motor yachts, and Aviara luxury dayboats; and Intrepid Powerboats, a premier manufacturer of powerboats. To enhance and simplify the customer experience, we provide financing and insurance services as well as leading digital technology products that connect boaters to a network of preferred marinas, dealers, and marine professionals through Boatyard and Boatzon. In addition, we operate MarineMax Vacations in Tortola, British Virgin Islands, which offers our charter vacation guests the luxury boating adventures of a lifetime. Land comprises 29% of the earth's surface. We're focused on the other 71%. Learn more at Forward Looking Statement Certain statements in this press release are forward-looking as defined in the Private Securities Litigation Reform Act of 1995. These statements, including those related to expected improvement in sales, the gradual rebalancing forecasted to begin in the back half of calendar 2025, the potential reduction in uncertainty that has been weighing on consumer confidence, our revised fiscal 2025 guidance, our cautious near-term outlook, our overarching strategy, the expansion of our higher-margin businesses, operational resilience, our positioning to navigate the current market volatility, the strategic expansion of our higher-margin businesses, and the resilient consumer demand for the boating lifestyle, 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 release. These risks, assumptions, and uncertainties include the return to normal operations of the Company's locations, the timing of and potential outcome of the Company's long-term improvement plan, the estimated impact resulting from the Company's cost-reduction initiatives, the Company's abilities to reduce inventory, manage expenses and accomplish its goals and strategies, the quality of the new product offerings from the Company's manufacturing partners, the performance and integration of the recently acquired businesses, general economic conditions, as well as those within the Company's industry, the liquidity and strength of our bank group partners, the level of consumer spending, and numerous other factors identified in the Company's Form 10-K for the fiscal year ended September 30, 2024 and other filings with the Securities and Exchange Commission. The Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. MarineMax, Inc. and Subsidiaries Condensed Consolidated Balance Sheets (Amounts in thousands) (Unaudited) June 30, September 30, June 30, 2025 2024 2024 ASSETS CURRENT ASSETS: Cash and cash equivalents $ 151,017 $ 224,326 $ 242,424 Accounts receivable, net 106,849 106,409 105,258 Inventories 906,219 906,641 880,419 Prepaid expenses and other current assets 33,793 35,835 33,101 Total current assets 1,197,878 1,273,211 1,261,202 Property and equipment, net 551,912 532,766 533,943 Operating lease right-of-use assets, net 138,143 136,599 138,600 Goodwill 527,144 592,293 589,949 Other intangible assets, net 36,661 37,458 38,380 Other long-term assets 35,999 32,741 31,591 Total assets $ 2,487,737 $ 2,605,068 $ 2,593,665 LIABILITIES AND SHAREHOLDERS' EQUITY CURRENT LIABILITIES: Accounts payable $ 44,504 $ 54,481 $ 45,578 Contract liabilities (customer deposits) 48,900 64,845 66,791 Accrued expenses 116,892 197,295 196,987 Short-term borrowings 735,215 708,994 701,185 Current maturities on long-term debt 35,593 33,766 33,766 Current operating lease liabilities 10,045 9,762 10,135 Total current liabilities 991,149 1,069,143 1,054,442 Long-term debt, net of current maturities 365,070 355,906 364,138 Noncurrent operating lease liabilities 127,860 124,525 125,343 Deferred tax liabilities, net 45,539 60,317 59,210 Other long-term liabilities 6,796 8,928 13,598 Total liabilities 1,536,414 1,618,819 1,616,731 SHAREHOLDERS' EQUITY: Preferred stock — — — Common stock 30 30 30 Additional paid-in capital 362,216 343,911 342,218 Accumulated other comprehensive income 9,322 4,636 2,084 Retained earnings 747,239 778,015 774,016 Treasury stock (178,277 ) (150,797 ) (150,797 ) Total shareholders' equity attributable to MarineMax, Inc. 940,530 975,795 967,551 Non-controlling interests 10,793 10,454 9,383 Total shareholders' equity 951,323 986,249 976,934 Total liabilities and shareholders' equity $ 2,487,737 $ 2,605,068 $ 2,593,665 Expand MarineMax, Inc. and Subsidiaries Segment Financial Information (Amounts in thousands) (Unaudited) June 30, June 30, 2025 2024 2025 2024 Revenue: Retail Operations $ 655,750 $ 752,171 $ 1,750,439 $ 1,855,433 Product Manufacturing 32,150 38,062 105,591 124,372 Elimination of intersegment revenue (30,741 ) (32,513 ) (98,895 ) (111,919 ) Revenue $ 657,159 $ 757,720 $ 1,757,135 $ 1,867,886 (Loss) income from operations: Retail Operations $ 28,079 $ 58,733 $ 90,271 $ 94,204 Product Manufacturing (1) (72,363 ) (548 ) (75,570 ) 2,508 Intersegment adjustments 2,744 2,842 5,472 4,715 (Loss) income from operations $ (41,540 ) $ 61,027 $ 20,173 $ 101,427 Expand (1) Product manufacturing loss from operations for the three and nine months ended June 30, 2025, includes a non-cash goodwill impairment charge of $69.1 million. Expand MarineMax, Inc. and Subsidiaries Supplemental Financial Information (Amounts in thousands, except share and per share data) (Unaudited) Three Months Ended Nine Months Ended June 30, June 30, 2025 2024 2025 2024 Net (loss) income attributable to MarineMax, Inc. $ (52,146 ) $ 31,550 $ (30,780 ) $ 34,067 Transaction and other costs (1) 742 1,127 1,564 4,352 Intangible amortization (2) 1,397 1,428 4,253 4,592 Change in fair value of contingent consideration (3) 60 1,225 (25,652 ) 2,392 Weather (recoveries) expenses (773 ) (556 ) 4,748 142 Restructuring expense (4) 526 1,110 1,302 1,110 Goodwill impairment (5) 69,055 — 69,055 — Tax adjustments for items noted above (6) (7,882 ) (1,123 ) (4,919 ) (3,172 ) Adjusted net income attributable to MarineMax, Inc. $ 10,979 $ 34,761 $ 19,571 $ 43,483 Diluted net (loss) income per common share $ (2.42 ) $ 1.37 $ (1.38 ) $ 1.48 Transaction and other costs (1) 0.03 0.05 0.07 0.19 Intangible amortization (2) 0.06 0.06 0.19 0.20 Change in fair value of contingent consideration (3) — 0.05 (1.15 ) 0.10 Weather (recoveries) expenses (0.04 ) (0.02 ) 0.21 0.01 Restructuring expense (4) 0.02 0.05 0.06 0.05 Goodwill impairment (5) 3.21 — 3.10 — Tax adjustments for items noted above (6) (0.37 ) (0.05 ) (0.22 ) (0.14 ) Adjustment for dilutive shares (7) — — (0.03 ) — Adjusted diluted net income per common share $ 0.49 $ 1.51 $ 0.85 $ 1.89 Expand (1) Transaction and other costs relate to acquisition transaction, integration, and other costs in the period. (2) Represents amortization expense for acquisition-related intangible assets. (3) Represents (gains) expenses to record contingent consideration liabilities at fair value. (4) Represents expenses incurred as a result of restructuring and store closings. (5) Represents goodwill impairment expense incurred on the manufacturing reporting unit during the three months ended June 30, 2025. (6) Adjustments for taxes for items are calculated based on the effective tax rate for each respective period presented. (7) Represents an adjustment for shares that are anti-dilutive for GAAP net income per share but are dilutive for adjusted net income per share. Expand Three Months Ended Nine Months Ended June 30, June 30, Net (loss) income attributable to MarineMax, Inc. $ (52,146 ) $ 31,550 $ (30,780 ) $ 34,067 Interest expense (excluding floor plan) 6,946 7,508 22,502 22,786 Income tax (benefit) provision (6,506 ) 11,085 (3,003 ) 11,452 Depreciation and amortization 12,537 11,192 36,385 33,087 Stock-based compensation expense 5,643 6,080 16,438 17,483 Transaction and other costs 742 1,127 1,564 4,352 Restructuring expense 526 1,225 1,302 2,392 Goodwill impairment 69,055 — 69,055 — Change in fair value of contingent consideration 60 1,110 (25,652 ) 1,110 Weather (recoveries) expenses (773 ) (556 ) 4,748 142 Foreign currency (540 ) 73 (41 ) (235 ) Adjusted EBITDA $ 35,544 $ 70,394 $ 92,518 $ 126,636 Expand Non-GAAP Financial Measures This press release, along with the above Supplemental Financial Information table, contains 'Adjusted net income,' 'Adjusted diluted EPS,' 'Adjusted Earnings Before Interest, Taxes Depreciation and Amortization,' ('Adjusted EBITDA') and 'Adjusted SG&A,' which are non-GAAP financial measures as defined under applicable securities legislation. In determining these measures, the Company excludes certain items which are otherwise included in determining the comparable GAAP financial measures. The Company believes these non-GAAP financial measures are key performance indicators that improve the period-to-period comparability of the Company's results and provide investors with more insight into, and an additional tool to understand and assess, the performance of the Company's ongoing core business operations. Investors and other readers are encouraged to review the related GAAP financial measures and the above reconciliation and should consider these non-GAAP financial measures as a supplement to, and not as a substitute for or as a superior measure to, measures of financial performance prepared in accordance with GAAP. In addition, we have not reconciled our fiscal year 2025 Adjusted net income and Adjusted EBITDA guidance to net income (the corresponding GAAP measure for each), which is not accessible on a forward-looking basis due to the high variability and difficulty in making accurate forecasts and projections, particularly with respect to acquisition contingent consideration, acquisition costs, and other costs. Acquisition contingent consideration and transaction costs, which are likely to be significant to the calculation of net income, are affected by the integration and post-acquisition performance of our acquirees, which is difficult to predict and subject to change. Accordingly, reconciliations of forward-looking Adjusted net income and Adjusted EBITDA are not available without unreasonable effort.
Yahoo
18-07-2025
- Business
- Yahoo
MarineMax to Report Third Quarter Fiscal 2025 Financial Results on Thursday, July 24, 2025
OLDSMAR, Fla., July 18, 2025--(BUSINESS WIRE)--MarineMax, Inc. (NYSE: HZO), the world's largest recreational boat and yacht retailer, marina operator and superyacht services company, plans to release its third quarter fiscal 2025 financial results before the opening of the New York Stock Exchange on Thursday, July 24, 2025. At 10:00 a.m. ET that day, the Company will conduct a conference call hosted by Brett McGill, Chief Executive Officer and President, and Mike McLamb, Executive Vice President, Chief Financial Officer and Secretary. To access the webcast, please visit the investor relations section of the Company's website: The online replay will be available within one hour of the conclusion of the call and will be archived on the website for one year. The live call also can be accessed by dialing 877-407-0789 (U.S. and Canada) or 201-689-8562 (International). About MarineMax As the world's largest recreational boat and yacht retailer, marina operator and superyacht services company, MarineMax (NYSE: HZO) is United by Water. We have over 120 locations worldwide, including over 70 dealerships and 65 marina and storage facilities. Our integrated business includes IGY Marinas, which operates luxury marinas in yachting and sport fishing destinations around the world; Fraser Yachts Group and Northrop & Johnson, leading superyacht brokerage and luxury yacht services companies; Cruisers Yachts, one of the world's premier manufacturers of premium sport yachts, motor yachts, and Aviara luxury dayboats; and Intrepid Powerboats, a premier manufacturer of powerboats. To enhance and simplify the customer experience, we provide financing and insurance services as well as leading digital technology products that connect boaters to a network of preferred marinas, dealers, and marine professionals through Boatyard and Boatzon. In addition, we operate MarineMax Vacations in Tortola, British Virgin Islands, which offers our charter vacation guests the luxury boating adventures of a lifetime. Land comprises 29% of the earth's surface. We're focused on the other 71%. Learn more at View source version on Contacts Mike McLambChief Financial OfficerMarineMax, Inc.727-531-1700 Scott SolomonSharon Merrill AdvisorsHZO@ 857-383-2409 Sign in to access your portfolio
Business Wire
18-07-2025
- Business
- Business Wire
MarineMax to Report Third Quarter Fiscal 2025 Financial Results on Thursday, July 24, 2025
OLDSMAR, Fla.--(BUSINESS WIRE)--MarineMax, Inc. (NYSE: HZO), the world's largest recreational boat and yacht retailer, marina operator and superyacht services company, plans to release its third quarter fiscal 2025 financial results before the opening of the New York Stock Exchange on Thursday, July 24, 2025. At 10:00 a.m. ET that day, the Company will conduct a conference call hosted by Brett McGill, Chief Executive Officer and President, and Mike McLamb, Executive Vice President, Chief Financial Officer and Secretary. To access the webcast, please visit the investor relations section of the Company's website: The online replay will be available within one hour of the conclusion of the call and will be archived on the website for one year. The live call also can be accessed by dialing 877-407-0789 (U.S. and Canada) or 201-689-8562 (International). About MarineMax As the world's largest recreational boat and yacht retailer, marina operator and superyacht services company, MarineMax (NYSE: HZO) is United by Water. We have over 120 locations worldwide, including over 70 dealerships and 65 marina and storage facilities. Our integrated business includes IGY Marinas, which operates luxury marinas in yachting and sport fishing destinations around the world; Fraser Yachts Group and Northrop & Johnson, leading superyacht brokerage and luxury yacht services companies; Cruisers Yachts, one of the world's premier manufacturers of premium sport yachts, motor yachts, and Aviara luxury dayboats; and Intrepid Powerboats, a premier manufacturer of powerboats. To enhance and simplify the customer experience, we provide financing and insurance services as well as leading digital technology products that connect boaters to a network of preferred marinas, dealers, and marine professionals through Boatyard and Boatzon. In addition, we operate MarineMax Vacations in Tortola, British Virgin Islands, which offers our charter vacation guests the luxury boating adventures of a lifetime. Land comprises 29% of the earth's surface. We're focused on the other 71%. Learn more at
