MarineMax today reported a 10% gain in sales to US$270.6m for its second quarter ended March 31, 2018. The US boat retailer said net income was up 125% to US$6.2m compared to a year ago. Same-store sales were up 8% compared to the 13% gain in the year-ago period.
“A combination of strong unit growth and constant focus on our higher margin businesses enabled our team to drive meaningful year-over-year gross margin and earnings per share improvement,” said William McGill, chairman and CEO, in a statement. “The environment for capturing additional product margins remains encouraging. Our 8% same-store sales growth was driven by increased traffic at boat shows, online and in our stores, as demand was aided by strong consumer confidence.”
MarineMax raised its fiscal 2018 guidance to US$1.44 to US$1.50 versus prior expectations ranging from US$1.30 to US$1.40.