MarineMax, Inc. (NYSE:HZO) Q1 2023 Earnings Call Transcript

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David MacGregor: Just on that M&A topic, I mean the targets of your acquisitions lately have been somewhat diversed in terms of the nature of the businesses. And how do you think about priorities or white space or just where you need to go next in that endeavor?

Brett McGill: Well, I think I’d say — I’d speak to what we talked about in kind of our comments, IGY brings a whole new growth platform for us. And some of those include very low capital ways to grow, and some might require a lot more capital. We’ll continue to look at our digital approach and the dealership business is still very important to us. And then of course, our growth with new brands and the brands that we’ve taken on over the last couple of years that candidly we’re just getting started with brands like Aviara and whatnot are just really getting started.

David MacGregor: And with New Wave Innovations, that seems to provide you with a little more scope. Where do you set the guardrails on that in terms of where you’re willing to go where you’re maybe hitting limits strategically?

Brett McGill: Yes. I think we’ve been very strategic about the companies that we have there Boatyard and Boatzon and kind of do they fill a very front-to-back experience for the customer. So that’s where we’re focused. I wouldn’t say, we’re going to get wildly out of that scope. I think those two tools have some really good opportunities in the future here for us. I’d say, we’ll stay focused there because that’s a front-to-back solution for the consumer to — and that’s our goal to create a better experience for the customer.

David MacGregor: Right. Right. Okay. Thanks very much. Good luck.

Brett McGill: Thank you, David.

Operator: Thank you. Our next question is a follow-up from the line of Fred Wightman with Wolfe Research. Please proceed with your question.

Fred Wightman: Hi, guys. I just have a quick clarification on the EPS guidance. All of the add-backs that you’re providing in the non-GAAP EPS number, were those all contemplated in the $7.90 to $8.40 that you gave last quarter? I know that you had given us some hurricane impact reconciliation for fiscal 2022, but I just want to make sure that it’s sort of apples-to-apples the updated non-GAAP guidance versus what you guys had given previously.

Mike McLamb: That’s good question, Fred. Yes, it’s all contemplated. It’s apples-to-apples.

Fred Wightman: All right. Great. Thanks so much.

Operator: Thank you. Ladies and gentlemen, that concludes our question-and-answer session. I’ll turn the floor back to Mr. McGill, for any final comments.

Brett McGill: Well, thank you everybody for joining the call this morning. We’re excited kicking off some boat show — boat show season coming up with the Miami Boat Show here in a few weeks, kind of then falling into Palm Beach and many others around the country. Hope to see you out there and look forward to talking to you on our next call.

Operator: Thank you. This concludes today’s conference call. You may disconnect your lines at this time. Thank you for your participation.

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