Company Financials – Page 6
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Mixed Q2 for Myers Industries
US fuel tank builder posts revenue gains but lowers full-year guidance on continued softness in recreational end markets, including marine
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Cummins posts record Q2 revenues of $8.8bn
US engine builder reports record sales and higher profitability in strong second quarter, leading it to raise full-year guidance
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Garmin Q2 revenues up 14% to record $1.51bn
Electronics giant marks fourth consecutive quarter of double-digit growth, with marine segment revenues up 26%
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Tough FQ3 for OneWater, guidance adjusted downward
CEO blames progressively weaker market environment for fiscal decline
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Hubbell Q2 revenues climb 6%
Electrical Solutions segment, including Hubbell’s leisure marine business, down 2% despite margin expansion and operating profit gains
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Xylem Q2 revenues up 26%
Rule, Jabsco and Flojet parent raises full-year guidance on strong earnings despite softer performance in leisure marine segment
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AkzoNobel reports third consecutive quarter of growth
Dutch paint and coatings giant releases Q2 financials
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MarineMax revenue up, profits down for FQ3
US boat and yacht retailer maintains guidance for 2024
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Brunswick Q2 revenues down 15%
Slow retail sales lead to second-quarter results falling “slightly below expectations” for world’s largest boat, engine and marine equipment builder
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Tough Q2 for Marine Products Corp
US boatbuilder reports 40% YoY revenue decrease as dealers continue facing high inventory finance costs
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Polaris Q2 revenues down 12%
Marine sales decrease 40% YoY while maintaining share in key pontoon segment
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Beneteau boat sales down 32% in H1; forecast of €1bn for year-end (€1,465bn 2023)
The decline is linked to expected changes in dealership inventory levels
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Volvo Group reports profitable Q2 despite headwinds
Swedish engine builder cites market normalisation for weak end-customer demand
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Nimbus Group reports drop in Q2 sales
Second quarter characterised by ‘wait-and-see’ attitude, says Swedish builder
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UK marina operator reports profit increase
Trend for UK staycations and growth in the boat-owning population brings more business to the group
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BRP Q1 revenues decrease 16%
Soft results in line with expectations, says CEO, as marine segment revenues drop by 56%
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Ferretti’s Q1 results confirm further growth, record order backlog
Order intake in the first quarter of 2024 amounted to €266.6m
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Twin Vee Q1 revenues down 41%
Losses continue for US boat builder as high interest rates reduce demand in tough American boat market
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Taiga reports higher sales, net loss for 2024 Q1
Canadian electric PWC builder reports revenue gains, but higher costs amid manufacturing ramp-up
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Yamaha Q1 reflects marine market decline
Core business of motorcycles offsets declines in the Marine Products division