Soaring Q3 results reported by MarineMax

Written by Rebecca Smurthwaite

MarineMax has announced its highest quarterly three results for fiscal year 2021. They have reported significant growth in revenue and sales in comparison to the previous year's Q3. MarineMax is one of the largest boat and yacht retailers in the world, owning companies such as Fraser and Northrop & Johnson.Brett McGillPhoto: MarineMaxRevenue for MarineMax grew 34 percent, or $168,000,000, to $666,300,000 for the quarter ending June 30, 2021, up from $498,300,000 from the comparable period the previous year. MarineMax credits the increased revenue to significant contributions from its recent strategic acquisitions as well as ongoing demand in the boating and yachting industry. The company’s geographical locations, product diversification, and effective use of their digital platforms, also contributed to the sustained growth. 

All together, the net income and earnings per diluted share rose over 70 percent and 64 percent to $59,600,000 and $2,590,000 respectively. This compares to a net income of $34,900,000 and earnings per diluted share of $1,580,000 in the comparable period last year.MarineMax Bay Pointe marinaPhoto: MarineMaxW. Brett McGill, CEO and President of MarineMax, stated, “We once again delivered record sales and earnings growth in the quarter, as demand for the boating lifestyle remained strong and our team continued to execute on our strategy of driving higher margin businesses, resulting in our strongest quarterly operating margin to date.” He continues, “Based on orders and inventory, our pricing model and our team’s commitment to executing on our strategic initiatives, we will capture additional growth in the years ahead.”

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