MarineMax Boosts FY22 Outlook As Q2 Results Top Estimates

(RTTNews) - While reporting financial results for the second quarter on Thursday, recreational boat and yacht retailer MarineMax Inc. (HZO) raised its earnings guidance for the full-year 2022, based on current business conditions, retail trends and other factors.

For fiscal 2022, the company now projects earnings in a range of $7.90 to $8.30 per share, up from the prior guidance range of $7.60 to $8.00 per share.

On average, seven analysts polled by Thomson Reuters expect the company to report earnings of $7.88 per share for the year. Analysts' estimates usually exclude special items.

For the second quarter, the company reported net income of $53.51 million or $2.37 per share, up from $38.94 million or $1.69 per share in the prior-year quarter.

Revenue for the quarter increased 17 percent to $610.11 million from $523.10 million in the same quarter last year. Same-store sales growth was 7 percent.

The Street was looking for earnings of $1.78 per share on revenues of $541.34 million for the quarter.