MarineMax Q2 Profit Misses View, But Revenues Beat; Backs FY17 Outlook

(RTTNews) - Recreational boat and yacht retailer MarineMax Inc. (HZO) reported an increase in profit for the second quarter from last year on double-digit revenue growth.

However, earnings per share missed analysts' estimates, while revenue beat their expectations. In addition, the company reiterated its earnings outlook for fiscal 2017.

The company's second-quarter net income was $2.75 million, or $0.11 per share, up from $2.49 million or $0.10 per diluted share for the comparable quarter last year. On average, analysts polled by Thomson Reuters expected the company to earn $0.17 per share for the quarter. Analysts' estimates typically exclude special items.

Revenue for the quarter grew 23 percent to $245.02 million from $199.57 million for the comparable quarter last year. Analysts had a consensus revenue estimate of $239.17 million.

Looking ahead to fiscal 2017, MarineMax reaffirmed its outlook for fully taxed earnings per share of $1.14 to $1.24. The Street expects earnings of $1.26 per share for the year.