Marinemax Inc. (NYSE:HZO) Q3 2020 Earnings Conference Call - Final Transcript

Jul 23, 2020 • 10:00 am ET


Marinemax Inc. (NYSE:HZO) Q3 2020 Earnings Conference Call - Final Transcript


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Good morning, and welcome to the MarineMax, Inc. 2020 Fiscal Third Quarter Earnings Conference Call. Today's conference is being recorded. At this time, I'd like to turn the conference over to Dawn Francfort, Investor Relations for MarineMax. Please go ahead.

Dawn Francfort

Thank you, operator. Good morning, everyone, and thank you for joining this discussion of MarineMax's 2020 third quarter. I'm sure that you've all received a copy of the press release that went out this morning. But if not, please call Linda Cameron at (727) 531-1712, and she will email one to you right away.

I would now like to introduce the management team of MarineMax. Brett McGill, President and Chief Executive Officer and Mike McLamb, Chief Financial Officer of the Company. Management will make a few comments about the quarter and then be available for your questions.

And with that, let me turn the call over to Mike McLamb. Mike?

Michael H. McLamb

Thank you, Dawn. Good morning, everyone, and thank you for joining this call. Before I turn the call over to Brett, I'd like to tell you that certain of our comments are forward-looking statements as defined by the Private Securities Litigation Reform Act. These statements involve risks and uncertainties that could cause actual results to differ materially from expectations. These risks include, but are not limited to, the impact of seasonality and weather, general economic conditions and the level of consumer spending, the Company's ability to capitalize on opportunities or grow its market share and numerous other factors identified in our Form 10-K and other filings with the Securities and Exchange Commission.

With that in mind, I'd like to turn the call over to Brett. Brett?

William Brett McGill

Thank you, Mike, and good morning, everyone. I want to start by giving a large shout out to the entire organization at MarineMax. Producing same-store sales growth of 37% and generating record earnings would be an amazing accomplishment in a normal environment, but to achieve these results while navigating a global pandemic is just outstanding. I'm very proud of our team for staying safe and also thank them for their hard work during the quarter, all while keeping our customers safe so that they can enjoy their passion for the boating lifestyle.

The positive trends we saw in April built as we moved through the balance of the quarter. Our trusted brands and digital capabilities made it easy for our customers to conduct business quickly and remotely and we capitalized on the dramatic lifestyle change of consumers wanting a safe recreational environment with family and friends. The health and well-being of our team, their families, and our customers as well as the welfare of our local economies continues to be a top priority.

During the quarter, we enhanced our offerings to provide multiple approaches for our customers to continue to enjoy their experience on the water. Demand was driven by the strong desire of consumers to get out of their home and find an activity that could be enjoyed with family away from the crowds.