Why Marinemax shares rose on Thursday – Marinemax (NYSE: Hzo)

Marinemax, Inc. quip It rose on Thursday after the company informed the results of the second quarter.

The company has reported a modified profits per share of 23 cents, overcoming the 19 -cents street view. Quarterly sales of 631.51 million dollars (+8.3 % year on year), outperformed the analyst’s consensus of 578.77 million dollars.

“Although a market for a weak retail and the macroeconomic climate is not certain, we have done a strong performance in the second quarter,” said Brett McChel, CEO.

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The increase in boat sales primarily led to the growth of the upper line. On the basis of the same comparative store, revenues have increased by 11 %, which reflects additional contributions of products and services, including financing and insurance, the high yacht department, manufacturing and marines.

The total profit decreased by 0.5 % on an annual basis to $ 189.5 million, while the total profit margin decreased by 30.0 % 270 basis points.

This was primarily due to the decrease in the margins of the boat and the difficult retail environment. The amended Ebitda for a quarter increased to $ 30.9 million from $ 29.6 million for the comparative period last year.

“We have finished a quarter of more than 200 million dollars in cash and cash rewards, and continues to reduce our debts in the long run, in addition, we have a great financing capacity through largely unused credit lines,” McGill added.

Expectations: Marinemax expects average net income in the fiscal year 2025 in the range of $ 1.40 to $ 2.40 per diluted share (estimate: $ 2.28), compared to a previous range of $ 1.80 to $ 2.80 per diluted share.

“It seems that the actual new sales level has slowed since the beginning of April. This indicates increasing concern among consumers about the actual effects of the economy of the definitions,” added the CEO.

Price work: Hzo shares closed 17.30 % to $ 22.67 on Thursday.

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Photography by Malklin Holloway via Shutterstock