COURTESY MARINEMAXMarineMax announced record results for its fourth quarter and fiscal year ending Sept. 30.
Revenue increased more than 16 percent to $536.8 million for the quarter, from $462.3 million in the comparable period last year. Same-store sales grew more than 11 percent. The company said in a statement that overall growth was driven by continued strong demand and selective acquisitions.
Net income for the fourth quarter was $34.4 million, or $1.73 per diluted share, compared with $32.8 million, or $1.45 per diluted share, in the same quarter last year. MarineMax included $4.8 million of expenses associated with Hurricane Ian in its quarterly reporting. Excluding the storm, net income rose 28 percent to $42 million, or $1.90 per diluted share.
“As with any natural disaster, such as Hurricane Ian, MarineMax is committed to supporting the impacted families and communities,” president and CEO W. Brett McGill said in the statement. “Our team’s training, past experiences and proactive efforts were instrumental in not only preparing our operations for the storm but also providing on-the-ground assistance in the impacted areas.”
For the fiscal year ending Sept. 30, revenue increased 12 percent to $2.31 billion, compared with $2.06 billion the prior year. The company said the increase was driven primarily by strategic acquisitions and strong same-store sales growth of 5 percent, which was on top of a 13 percent increase last year.
Net income for fiscal 2022 was $198 million, or $8.84 per diluted share, compared with $155 million, or $6.78 per diluted share, in the prior year. Excluding storm-related expenses, net income rose 30 percent to $201.6 million, or $9 per diluted share, for the year.
