The 10-second takeaway
For the quarter ended June 30 (Q3), Marinemax beat expectations on revenues and missed estimates on earnings per share.
Compared to the prior-year quarter, revenue grew significantly. Non-GAAP earnings per share increased significantly. GAAP earnings per share grew significantly.
Gross margins were steady, operating margins grew, net margins increased.
Marinemax reported revenue of $175.8 million. The five analysts polled by S&P Capital IQ anticipated net sales of $171.0 million on the same basis. GAAP reported sales were 16% higher than the prior-year quarter's $151.3 million.
Source: S&P Capital IQ. Quarterly periods. Dollar amounts in millions. Non-GAAP figures are normalized by S&P Capital IQ and may vary to maintain comparability with normalized estimates.
EPS came in at $0.27. The five earnings estimates compiled by S&P Capital IQ forecast $0.31 per share. Non-GAAP EPS of $0.27 for Q3 were 35% higher than the prior-year quarter's $0.20 per share. GAAP EPS of $0.56 for Q3 were 180% higher than the prior-year quarter's $0.20 per share.
Source: S&P Capital IQ. Quarterly periods. Non-GAAP figures are normalized by S&P Capital IQ and may vary to maintain comparability with normalized estimates.
For the quarter, gross margin was 26.6%, much about the same as the prior-year quarter. Operating margin was 7.8%, 410 basis points better than the prior-year quarter. Net margin was 7.8%, 480 basis points better than the prior-year quarter. (Margins calculated in GAAP terms.)
Next quarter's average estimate for revenue is $154.3 million. On the bottom line, the average EPS estimate is -$0.01.
Next year's average estimate for revenue is $589.1 million. The average EPS estimate is $0.08.
The stock has a two-star rating (out of five) at Motley Fool CAPS, with 44 members out of 81 rating the stock outperform, and 37 members rating it underperform. Among 19 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 11 give Marinemax a green thumbs-up, and eight give it a red thumbs-down.
Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Marinemax is outperform, with an average price target of $14.20.
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