MarineMax said sales for its first fiscal quarter ended December 31, 2017 were up 4.4% to US$236.9m. Same-store sales were flat compared to the same period a year ago. Net income was US$4.2m compared to US$2.6m a year ago.
The US marine retailer raised its 2018 guidance to earnings of US$1.30 to US$1.40 per share from its previous guidance of US$1.10 to US$1.20.
“The strong execution by our team resulted in record profitability in our December quarter,” said William McGill Jr, chairman and CEO, in a statement. “Trends in the quarter were generally encouraging as we experienced a healthy mix in product sales as well as an increase in our higher margin businesses, resulting in meaningful gross margin improvement over last year.”
The December quarter is typically MarineMax’s smallest revenue quarter of the year, said McGill, which often results in a loss quarter for most marine dealers. MarineMax has posted sales gains in the last four years during this quarter.