MarineMax Q3 Net Jumps, Beats Estimates; Revenue Misses; Ups 2022 Profit Outlook

(RTTNews) - MarineMax, Inc. (HZO), a recreational boat and yacht retailer, on Thursday announced the results for the third quarter ended June 30, 2022 that showed a jump in both earnings and revenue. While earnings surpassed the Street's expectations, revenue fell short of it.

Net income for the period was $70.2 million or $3.17 per share as compared to $59.6 million or $2.59 per share in the third quarter of the prior-year period.

7 analysts polled by Thomson Reuters were expecting the company to report earnings of $3.03 per share. Analysts typically exclude one-time items.

Revenue for the period increased 3 percent to $688.5 million, from $666.3 million in the third quarter of the previous financial year.

5 analysts polled by Thomson-Reuters were expecting the company to report revenues of $768.21 million during the quarter.

The company is raising its fiscal year 2022 guidance for earnings per share to a range of $8.05 to $8.45, versus the previous guidance of $7.90 to $8.30 per share.

Shares of MarineMax closed Wednesday's trading at $43.02, up $0.67 or 1.58 percent from the previous close.