MarineMax Raises 2016 Guidance - Quick Facts

(RTTNews) - MarineMax, Inc. (HZO), the nation's largest recreational boat and yacht retailer, announced the company is raising guidance expectations for fully taxed earnings per share to be in the range of $0.86 to $0.90 for fiscal 2016 from previously issued range of $0.68 to $0.75. Analysts polled by Thomson Reuters expect the company to report profit per share of $0.79. Analysts' estimates typically exclude special items.

For the third-quarter 2016, reported net income was $14.1 million, or $0.57 per share compared to $14.9 million or $0.59 per share, including the $1.6 million or $0.06 per share gain in the June 2015 quarter. Assuming the same tax rate in both periods and excluding the benefit of the $1.6 million gain in the June 2015 quarter, comparable adjusted earnings per share grew in excess of 78% to $0.57 compared with $0.32.

Revenue grew over 49% to $345.6 million for the quarter ended June 30, 2016 from $231.8 million for the comparable quarter last year. Same-store sales grew 44%.