A challenging retail environment has led to MarineMax being “required . . . to take more aggressive pricing actions,” says its CEO Brett McGill. This comes as the company has announced its results for its fiscal first 2024 quarter, ending December 31, 2023. The company, which bills itself as the ‘world’s largest recreational boat, yacht […]
UK boatbuilder Sunseeker International has revealed its product development plan and shipyard development strategy during a press reception at Cannes Yachting Festival 2023. Sunseeker’s chief executive officer, Andrea Frabetti, revealed the company has a retail forward order value of £625m (€730m), representing a continued bounceback following a downturn in 2020 brought on by the pandemic. […]
Florida boatbuilder Twin Vee PowerCats, which designs, manufactures and distributes recreational and commercial power boats, has reported financial results for the three- and six-month period ended 30 June, 2023. The firm has reported an 18 per cent increase in net revenue for H1 2023 — the six months ended 30 June 2023. Revenue is up […]
The demand for boats remained strong during the first half of the year as inventory levels continue to recover from the pandemic-era buying surge, according to the latest market report from Boats Group. The industry continued to overcome inventory shortages, specifically in the larger boat segments, as the total volume of boats sold was down 9.8 per […]
US electronics company, Garmin, has posted its second quarter results showing a return to consolidated net growth with revenue gains in three of its five operating segments. According to Garmin’s Q2 2023 results (ending 1 July), consolidated revenue was $1.32 billion, a six per cent increase compared to the prior year quarter. Gross margin and […]
MarineMax, the world’s largest recreational boat, yacht and superyacht services company, has announced results for its fiscal third quarter ended 30 June, 2023. The firm’s revenue in the fiscal 2023 third quarter increased to a record $721.8 million from $688.5 million in the comparable period last year. The 4.8 per cent top-line growth was driven […]
Canada-headquartered electric boatbuilder Vision Marine Technologies has reported earnings results for its third quarter, which ended 31 May 2023. For the third quarter and nine months ended 31 May 2023, the company reported sales of CA$1.3m, compared to CA$2.01m a year ago. Net loss was CA$3.1m, compared to CA$1.94m a year ago. For the nine […]
British shipbroker Braemar has confirmed it will not meet a deadline to publish its full-year results, due to an ongoing investigation into its accounts. The firm has asked for trading in its shares to be suspended from Monday (3 July 2023.) The company, which provides broking services to the dry cargo, deep sea tanker, specialised […]
MarineMax, the world’s largest recreational boat, yacht, and superyacht services company, has announced results for its fiscal second quarter ended 31 March 2023. In a statement, the company reports a record second-quarter gross margin of 35.2 per cent, an increase of 150 basis points from 33.7 per cent in Q2 2022. The firm says this […]
Volvo Group has announced its first-quarter fiscal results for 2023, revealing record gains. The Sweden-based manufacturing giant — parent company of Volvo Penta — reports a 25 per cent year-over-year increase in revenue, and a higher adjusted operating income. Net sales rose from SEK105.3b in Q1 2022 to SEK131.4b (US$12.8b) in Q1 2023 — the […]
British Marine, the trade association for the leisure marine, superyacht, and commercial marine sectors, has filed its accounts for the financial year ending 30 June 2022. Operational losses have been reduced by almost half, from £1.9m to £1m since 2022, as the industry continues to gradually bounce back from the effects of the pandemic. British […]