CLEARWATER — National recreational boat retailer MarineMax reported a 16% increase in same-store sales in its fiscal third quarter despite inclement weather.
“Our same-store sales growth is a great accomplishment in normal times, but to grow is even a greater feat with the adverse weather conditions we faced,” CEO William McGill said in a Thursday conference call with analysts.
It was the second consecutive quarter of double-digit growth for MarineMax (symbol, HZO; recent price, $10.87), which saw same-store sales rise 12% in its prior quarter.
The company reported a 16% rise in revenue to $175.8 million for the quarter ended June 30. Net income was $13.6 million, up from $4.6 million.
“It is apparent to us that the industry recovery is under way and that the industry growth in units will be much greater in the future,” McGill said, adding that inclement weather, including hurricanes, will continue to impact sales.