MarineMax works to preserve capital
April 2, 2020 - MarineMax said it is focused on preserving capital as it deals with the fallout from the coronavirus pandemic. In a news release, the Clearwater-based recreational boat and yacht retailer outlined several steps it is taking, including working to extract capital from its debt-free real estate holdings, monetizing its inventory and reducing incoming order from manufacturers. MarineMax said it has temporarily closed some locations based on local government guidance, although many of its 59 stores are fully or partially operational. The company's digital platform is seeing robust online activity. MarineMax (NYSE: HZO) withdrew its full year fiscal 2020 financial guidance, but said for the fiscal second quarter that ended March 31, it expected revenue to range from $303 million to $308 million.