MarineMax rides wave of growth
July 29, 2022 - Clearwater-based MarineMax Inc. (NYSE: HZO), which is described as the world’s largest recreational boat and yacht retailer, announced record financial results for its third quarter that ended June 30. Revenue increased 3% to a record $688.5 million for the quarter from $666.3 million in the comparable period last year. Revenue growth benefitted from contributions of recent strategic acquisitions, as same-store sales declined 5% versus an increase of 6% a year ago and a 43% increase over the prior two-comparable periods. "We are building on our previously communicated strategic vision that we began deploying in 2019, to transform MarineMax into a more diversified business model that would create greater resilience across ever changing economic cycles. This strategy produced another quarter of record gross margins and profits, driving sustained profitability by focusing on higher margin businesses," MarineMax CEO and President W. Brett McGill said in the company's news release.