MarineMax Lowers Fiscal 2019 EPS Guidance As Q2 EPS Misses Estimates

Shares of MarineMax (HZO) were down more than 15% Thursday after the recreational boat and yacht retailer booked a fiscal Q2 diluted EPS of $0.23, falling from last year’s $0.27 and missing the $0.31 average estimate from analysts polled by Capital IQ.

Revenue for the period, meanwhile, increased to $303.6 million from $270.6 million in Q2 of fiscal 2018, topping the $290.2 million CapIQ mean. According to MarineMax, its fiscal Q2 results were affected by weather issues that delayed sales, leading higher expenses spent to drive sales growth.

The company lowered its fiscal 2019 guidance for diluted EPS to between $1.75 to $1.85 from the previous range of $1.85 to $1.95 amid business conditions, retail trends and its recent results, along with other factors.

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