Boat and marine products retailer MarineMax (NYSE: HZO) will be reporting earnings this Thursday before the bell. Here’s what investors should know.
MarineMax beat analysts’ revenue expectations last quarter, reporting revenues of $505.2 million, up 7.8% year on year. It was a slower quarter for the company, with a significant miss of analysts’ EBITDA estimates and a significant miss of analysts’ gross margin estimates.
Is MarineMax a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.
This quarter, the market is expecting MarineMax’s revenue to decline 2.2% year on year, a reversal from the 8.3% increase it recorded in the same quarter last year.
The majority of analysts covering the company have reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. MarineMax has missed Wall Street’s revenue estimates multiple times over the last two years.
Looking at MarineMax’s peers in the automotive and marine retail segment, some have already reported their Q1 results, giving us a hint as to what we can expect. CarMax posted flat year-on-year revenue, beating analysts’ expectations by 3.9%, and Genuine Parts reported revenues up 6.8%, topping estimates by 1.4%. CarMax traded down 17.5% following the results.
Read our full analysis of CarMax’s results here and Genuine Parts’s results here.
There has been positive sentiment among investors in the automotive and marine retail segment, with share prices up 9.6% on average over the last month. MarineMax is up 13.8% during the same time and is heading into earnings with an average analyst price target of $32.57 (compared to the current share price of $29.95).
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