MarineMax Q1 revenue beats estimates on higher same-store sales

Overview

• Recreational boat retailer's fiscal Q1 revenue rose 7.8%, beating analyst expectations

• Adjusted EPS for fiscal Q1 beat analyst expectations

• Adjusted net income for fiscal Q1 missed analyst expectations

Outlook

• MarineMax reaffirms fiscal 2026 adjusted EBITDA guidance of $110 mln to $125 mln

• Company expects fiscal 2026 adjusted net income per share between $0.40 and $0.95

• MarineMax anticipates gradual improvement in marine industry as inventory levels normalize

Result Drivers

• HIGHER-MARGIN BUSINESSES - MarineMax's gross margin remained above 30% due to strategic expansion into higher-margin businesses like marinas and superyacht services

• INVENTORY REDUCTION - Significant inventory reduction strengthened liquidity and balance sheet, according to MarineMax

• SAME-STORE SALES GROWTH - Same-store sales increased over 10% despite challenging retail environment

Key Details

Analyst Coverage

• The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 7 "strong buy" or "buy", 2 "hold" and no "sell" or "strong sell"

• The average consensus recommendation for the recreational products peer group is "buy"

• Wall Street's median 12-month price target for MarineMax Inc is $33.00, about 22.9% above its January 28 closing price of $26.86

• The stock recently traded at 25 times the next 12-month earnings vs. a P/E of 14 three months ago

Press Release: ID:nBwTj2MLa

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