Same-store sales up 22 percent for year at MarineMax
MarineMax wrapped up its fiscal year with some positive results announced Tuesday.
The industry’s largest dealer ended its fourth quarter and fiscal year September 30.
“Our fourth quarter and full year performance marked another milestone in the Company’s ongoing progress as we continue to outperform the industry in this slow but steady economic recovery,” said CEO Bill McGill. “The marine industry continues to make progress as evidenced by generally increasing unit sales. … Our results have been enhanced by new products from our industry leading partners and additional brands and segments we have acquired over the past few years.”
Revenue was up more than 15 percent for the quarter, increasing to $189.3 million from $164.1 million in 2014. Same-store sales for the quarter increased more than 17 percent, on top of 10 percent growth for the comparable period last year.
For the year, revenue increased more than 20 percent to $751.4 million from $624.7 million for fiscal 2014, while same-store sales were up 22 percent.
“We are energized by the increasing demand that is occurring, evidenced by our backlog of sales and the continued positive reaction to the new models at the start of the fall boat show season,” McGill said. “We expect to build on our ability to outperform the industry and gain market share. With appropriate inventory levels, a balance sheet that is the strongest it has been in the past 10 years and a high performing team and culture, we are positioned to create additional value in the coming years as we focus on building upon our strong results.”
See the full results here.
