MarineMax Reports Fiscal 2023 First Quarter Results
, 2023-01-26 05:47:02,
~ Record December Quarter Revenue of $508 Million, Up 7% ~
~ Record December Quarter Gross Margin of 36.8% ~
~ Net Income of $19.7 Million, or $0.89 per Share; Adjusted Net Income of $27.3 Million, or $1.24 per Share ~
~ Adjusted EBITDA of $53.2 Million ~
~ Updates Fiscal Year 2023 Guidance ~
~ Company to Host Q1 2023 Earnings Call at 10:00 a.m. ET Today ~
MarineMax, Inc. (NYSE: HZO), the world’s largest recreational boat, yacht and superyacht company, today announced results for its first quarter ended December 31, 2022.
Revenue increased 7% to a record $507.9 million for the quarter ended December 31, 2022, from $472.7 million in the comparable period last year. The growth was primarily driven by contributions from strategic acquisitions, including IGY Marinas which closed in October 2022. As a result of the current macroeconomic environment and ongoing supply chain challenges, same-store sales declined a modest 1% for the quarter, compared with an increase of 9% in the first quarter of 2022.
Net income for the quarter ended December 31, 2022 was $19.7 million, or $0.89 per diluted share, compared with net income of $35.9 million, or $1.59 per diluted share, for the same period last year. Adjusted net income1 was $27.3 million, or $1.24 per diluted share for the quarter ended December 31, 2022. Adjusted EBITDA1 for the quarter ended December 31, 2022 was $53.2 million, compared with $55.3 million for the same…
To read the original article from news.google.com, Click here
Private Internet Access gives you unparalleled access to thousands of next-gen servers in over 83 countries and each US state. Your VPN experience will always be fast, smooth, and reliable.