HZO - Earnings call transcript Q1 2019

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Operator

Good morning. And welcome to the MarineMax 2019 Fiscal First Quarter Earnings Conference Call. Today's conference is being recorded. At this time, I would like to turn the conference over to Mr. Brad Cohen, Investor Relations for MarineMax. sir. ahead go Please

Brad Cohen

release Good XXX-XXX-XXXX, Chief Mr. introduce and of Mr. and me now Executive quarter. for Financial MarineMax's received to management call away. the let few turn you've operator. that, but and right this Mr. joining not, of you quarter McGill, she if I'm to available McLamb. Officer you management company; then will questions. this like all the and Chief please press of copy a discussion XXXX Cameron Officer; the would Officer, went Mike morning, you, MarineMax; McLamb, out the Brett thank the morning at Financial the make Chief everyone, Linda comments for call Mike about With sure to that and Thank your I fiscal be President one team of will first email over

Mike McLamb

you Thank joining you, Brad. for call. this Good morning, everyone, and thank

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

Brett McGill

good and Mike, morning everyone. you, Thank

The XX-year products to quarter first in was with year our margin. growth The business equal our record lines. revenue by by increases over best and expansion surpassed are were all quarter across year's first our We in begin in prior the margin makes results quarter strong driven contribution which fiscal history. XXXX in that our strong earnings results this supported and pleased

we've in ever quarter quarter. was I It's is commented industry important businesses at unit revenue helped achieved team's record crisis. unusually XX%. initiatives so of quarter and gains insurance, businesses five growth margin that same-store before cumulatively our the the up quarter modest part new strong, long-term last XX% they December the sales driving higher only has this with had gains to stayed include which as earnings a that I'm our we contributed finance produced. add a very have over in quarters; note $XXX expansion would by potential greater units and also well in margin point our new margin used our still should incremental yield that boat overtime. growth we Specifically, are while improvement, service growth been the our not produced saw same-store charter good that as proud growth. million slightly. the of Fort started Lauderdale that strong several new revenue December Training, the it's to and quarter; Boat surprising much the lower have and to margin today that to the in including consecutive record operation. profit pricing have setting drive The off one process the off storage, us focus and higher increases strategy in product operating quarter. this Total that $X industry Back-to-back, our Shows was over of disciplined million financial for best this Historically, over illustrates up than December levels margin were we efforts sales and

expected a overall the larger weaker sales industry revenue shown, was December percentage tampered Fort and generated [indiscernible] tends has and the to have return greater to to as strength boats data of The Florida. Lauderdale due in However, the from of the than Show December the quarter the quarter.

most and from trend the recent For fishing categories strong. Other to The revenue outboard boats December continued outboard increase. premium quarter to continues larger run-about. product be included boats strong outboard

on we operation; the increase in and ahead. while cash The the earnings move absolute half continue is controlling year, turning of Beach, Miami in of rose, focus it of of a SG&A closed which somewhat our virtually December was Irma. to as last acquisition will last new flow we from Island to completed due as January is Now business and the over ramp-up on to opening dollar costs Hurricane misleading year the combination Marine store charter

of innovative growing. highlighted. now boat marks the also Today are the been models and remains models early proven we that While show of start very new manufacturers again fresh time true after that coming and both, enthusiasm that it to out sought at season we emphasize early the Boat are new shows with That New critical The our often, this and technology point have being highly portion we the with point, strong Show. are demand. the in innovate To It's stays design. important today. continuing is York lots of

two are of the inventory we well fiscal quarters very As XXXX overall our busiest mix positioned. enter product

encouraging. early through boat shows from we As the January, the results work is

MarineMax at show mode; have the December the a the front activity that we in dovetails prior and on consistent normal is that discounting shows we seen quarters it's our worth show and mixed not have the well is pricing growing intention biggest spot to attendance industry our of products to noting be sweet Since since in basically we're premium seeing been results It's While that also our business. strength. for seems to results trends relative improving the for boat us, is with build has quarter. years, in promotion. This of

customers the impacted segments, global have have we our across may that keeping We water right models and our to started efforts to on our the customers further the approach MarineMax; provide volatility continuing getaway our ultimately this that While continued Mike service, year. period, will comments quarter. selling expansion market. calendar more December result outstanding update, and differentiated differentiate through all financial having new seen with these as the our in we detailed consistency understand of will on recent market and With the I'll help and ask the the provide more of share

Mike McLamb

Brett, and you, again Thank everyone. good morning

for start profitable the Let and me fiscal XXXX. team thank to positive also our

million. revenue about boats up For our in an the to Same-store sales X% by quarter, large and average driven unit were increased price. $X sales $XXX million increase selling

by comparable brand believe margins segment higher However, share to were growth quarter. low expansion to units were exist Certainly, Gross the up quarter. on for brands either the industry market margin premium businesses. growth by or in brands over Based with digits and The down flat product XX.X%. we again a gained exceptions. mid-single basis and few in margin in XXX data, expanded points our and we was differences driven

expand up administrative million. ability Selling, gross $XX.X is million were $X.X continue encouraging. margins Our to general expenses and to to

and related say, to we line As primary our needless expense business. of the increases other of expenses XXXX, watching to elevated charter the were item a coupled handful new items; a ramp acquisition the in are Brett These explained, for up were each with carefully. and store reasons

quarter, which the increased down a interest despite liquidity outstanding environment, For rising to was slightly down our cash expense average rate due and drove borrowings.

in level to Our the obtained which earnings record exceeded year. pretax modestly pretax million the earnings $X.X quarter last rose December

$X.XX were net $X.X diluted to $X.XX Our adjusted year. million increased income earnings share last to compared per an and

As at year-end, for our had balance in about $XX sheet cash. we million

form we As inventory. reminder, cash of in a have unlevered substantial the

slightly levels product replenish the inventory We positioned the Sea million quarter-end up were entering our well from Ray's biggest expected larger as to $XXX seasonally as with at right feel Our loss boats. of quarters. inventory we

liabilities; from short-term predictor size our because due were of best near-term borrowings not Customer down deposits, involved our XX% is $XXX to to X% last be were year. one deposits cash of liquidity the a million can lumpy of up whether to enhanced the due they to about or position. and and our sales trade Turning

is liabilities balance ratio and sheet metrics. stands total both Our worth our current at outstanding ratio X.XX net X.XX,

net million year. about tangible all compared debt-free, we and per no to own $XX.XX debt. of $XX.XX jumped worth We last share or have which long-term are to additional Our locations $XXX half our

guidance discussing want I that give annual guidance. Before to we remind you

compared we are to small greater seasonality actually While guidance, than pleased meaning annual earnings. year's profitably, quarters of year our it very to a are off given the the three is as next profit much XX% start relatively the

of earnings guidance; to share per reaffirming we to be guidance $X.XX Turning $X.XX. for fiscal XXXX are

stacked against up we're that growth account into takes of XX%. a same-store X-year sales guidance about solid Our

few with X% sales same-store leverage grow will years. that we will line XX% assumes last have in we guidance Our to and the

an guidance tax XXXX of XX%, that any the million around expected rate count from acquisitions uses XX.X complete. the of we uses potential and impact Our sheer may excludes it shares; also

trends, is for positive As January sales growth. to finish on-track current with same-store

year to Our felt the shakiness industry than the a it backlog have be appears was quarter ago, and today is December higher seems that in to subsiding.

said, boating experience watching will our and the work show are we are best improving. maximize customers. That to to MarineMax boat results they we trends as We carefully deliver our

closing to Let Brett? me call back now turn Brett comments. some for the

Brett McGill

Mike. you, Thank

with as them our we and With includes an let's with and our ready Looking with our growing MarineMax. in sales, expansion. and upon XXXX boating by call to fiscal team drive of higher acquisition businesses performance actively we seek expenses on the to energized their continue positive digital the and up ahead, This consistent lives consumer pursuing operator, confidence, our that, brand people's of With strong change strategy, to family or improvement questions. opportunities connecting annual for open accretive build alignment basis. are margin friends start we execution

Operator

[Operator take Citi. from of Instructions] now first We Thank Greg you. our question [ph] will

Fred Wightman

for Wightman Greg. Fred actually It's

that you the look historically, pretty the I higher-end that usually positive. If of where was think overall is commentary that indicator back is high-end good going? we had the does product, leading product industry a for

Brett McGill

sell in usually him product. has the premium everything that our been Yes, end experience, it's higher-end, from would I prior call it think most -- years also we you

We a our there from yes, segments to perspective, couple that seems have of maybe be of Fred. aren't were quite brands a and it we to, referring couple but that

Fred Wightman

been January. bit are but that drove sort And that sequential some has then industry, it last anything for the those do you through positive or a Is early mean guys quarter, there just think signs What waiting? quarter? you the concerned just about watchful slowdown in it that softened is sounds I like of

Brett McGill

marketplace, Our guess certainly the from would November in through volatility December. occurred be it the probably late

guys you very things many that that there so watched I jobless it's are think unemployment, extreme claims, really in signals are watched but as -- we -- economic if confidence; volatility the only out strong that there, still positive is quarter probably thing the a are there the also, the just consumer closed.

shows So coming perhaps the something was again, [ph] but the was boat strong. pretty impacting it, out of there else early maybe is that it, -- read

Fred Wightman

That service business -- is final sense. how the then, you much to businesses? that think improve makes F&I and do room And one; I one mean just more charter there the business, then

Brett McGill

As those to some a focused on grow continue we've I a It and -- there, fact, those; focused in had little and bit a technologies we're with as say and we're grow strategies service heightened to would those the initiatives year and facilities; takes quite pretty noted we'll and new technicians last but of is time, over growth. I well. there

Operator

C.L. next question King. the from Scott take now of Stember will We

Scott Stember

Can last talk maybe Ray the quarter, be of forward? just an this about sold quarter? transition, meaning, were you're had how we in that about impact positioned many sales left of this how Sea the in Sea boats how yacht to And, maybe quarter -- the Ray large talk much going

Brett McGill

were And know few as brands; a numbers more them. talk that those additional as with that. let Galeon us, to our to if spot transition cover and orders Mike, of our for a I I'll just on working. those really general we additional [ph] Azimut of brands it's that able have far Mike products our filling and but manufacturers fit about the really That's able that overview comments strategy fill with don't to and of helped revenue been us you is when

Mike McLamb

to boat quarter or Sea announcement which we you produce announcement sales we sales on same-store assume September bigger boats would positive growth and would quarter I'd and had able growth you; Ray we we're we less same-store same-store that still growth. Ray, the was this is great. and strong Sea lot revenue the we assume had so less we very Ray a revenue quarter after Sea strong sales that really rapid of Ray produce did of long Even had Sea remind large

under XX, products we we to kind less we fully a XX contract that; the started going I question, your I at large not of ended of with think what's around March we think I uncontracted number maybe single-digit look And the into quarter available, think answer technically a but we're product so that with than quarter yet. expect. the that's quarter of half

it said of of the the be out quarter by ago, we end we'd As March. at two product

Scott Stember

I are holding left; XX those pretty prices And units, guess what's the good? up

Mike McLamb

know, what; You the seek amazing that product. people it's

So, that. is I'd when with are and say expect Brunswick -- product it's probably ours yes; with seeking as with like the would ideal like you're but demand product, you the as up unwinding category the that we're pricing as not a support, it we'd consumers working

Scott Stember

[indiscernible]; about points the acquisitions million. other increase? there things I onetime the question on was any I've in items guys up but there And mentioned in of then year-over-year, don't about dollars up you $X know basis Thanks. if explain XXX to Outside last or SG&A,

Mike McLamb

could not but to and the charter and is really Marine some really There those it our would quarter, and a SG&A bigger of things Those we're March down acquisition. forward Irma, store year into carefully. purposely December or that going of the the and was that could bring the have things operation the maybe are revenue three Then one, any a it March we now they Brett mentioned; of that as forth store that items acquisition, opened, of all Then helps three because the in operational. of have new revenue percentage bring greater and chunk onetime incurred had Island there we closed the that it's quarters Hurricane watching like on were up so the the mentioned; last it and -- incurred virtually would number. items have it the that charter, rest there incurred, timing fell quarter; explain we

Operator

We from Altobello will James. Joe now question take next our Raymond of

Joe Altobello

a that of down the I said had think in mid-single, you guess clarifying Mike quarter correct? First, couple one, were questions. I I number units is

Mike McLamb

right. Yes, mid-single I to low digit, said

Joe Altobello

sort you earlier of I said boat results then you And on thought more then second, boat I mixed; were said think that show show results were later strong.

clarification there. I maybe just wanted get to So I I'm it; curious, misheard a

Mike McLamb

improving You've I question answering a a probably just heard when me they're said minute ago.

think… I So

Brett McGill

been related, mixed some has see improvements it weather [ph] results show been we're Boat attendance some when Yes, out we're you not. seeing. have some mixed but there, slightly encouraged by

Joe Altobello

show chatter last And heard boat fell-through you first-hand, then tell to season during on have lastly, shows a lot With lot. better I did quarter. behind brands; March that now year was you see Ray some impact imagine are there that some in I that last would Sea a about sales competing you can the of starting I us, from at the the saw than year?

Brett McGill

just asked question to the It's before. probably you little back a

sales I shows the we're they're and that in wondering and we with not brands, team attacking think now when focused have these you about take different products stable. a

think better sales without all So too. in just better the we clearly we noise. -- customer the you can focus training like, got It's I our team; a properly as well or comes

Operator

We Research. will from next Woolf Seth our question Northcoast now of take

Seth Woolf

are improving guess I things like at on. retail sounds early it

is this it. two the there; why first parts questions one be -- two would So of

you has of it out brand bit often improved And really the into and I do market all contributed sudden the what think think of you you brands; can said so times be because pretty guys first to do then the or it more maybe that it started -- by would you The just be, a markets to it strong in times called would if like you it that premium of sounds a XQ. would premium drilldown around buyer one January? a what is is mean little all throughout it number -- think sensitive was the you turning why

question. the first that's So

Mike McLamb

mean strong years I'll five comment had make So Seth, down turning growth. quarter on quarter very the that's of December slightly a a around, we -- that sales just same-store were I

So while we're not month quarter, the little the clearly all for we that whole is felt December we maybe bit choppy a of the really data pretty industry -- that choppiness throughout quarter, saying in December. the

the probably of that frankly to think does quite team. product speak type I we that sell in our

Brett McGill

just lot a and a Boat we earlier Lauderdale I quarter us got think Show show comment noise tempered volatility. back when great of in down little And with with December to the made a I a you started for being call as record with into out Fort the sales was

great So, really signs quarter. some overall was in the there

Mike McLamb

comments we're better -- well that dealers, manufacturers and better about comments the our talking very And progressed other are and shows be causing the pretty it has which stability customer here it to to and seems be up and before what's our also right strong. show then January seems are as shows, now. our getting other holding year and that pretty It as economic could other premium the factors are been on same were -- seems good, they comment No has resilient of well. just changed our the most

Seth Woolf

you just guys then, inventory guess job. a I have good done about thinking levels,

I get has managing bit about you're I this of For a it there ago in it but shape. the guess doesn't changed business. the in did know a no how you thinking of market? curious you're like been further? it it's month, in months the quarters little few from aspect reduce Just sound thinking how change thinking Maybe promotion bit we to about about way is a hiccup or it look Is small that last good three seasonally inventory? inventory the you're has little and would a

Brett McGill

to at detail on our granular you every to We single every we about our inventory orders do good when what's at right those have just and orders sell-through, take the advantage about look of inventory out our and there feedback promotions from day every now, manufacturers but strategic of can know, be and our team. monitor arrive. and get we're day We feel going what looking position the

Seth Woolf

So broadly opportunity are thinking there up activity? point, XXXX? change see an on promotional ago? you you in maybe you are of didn't guess just brought that see seeing inventory a I touch inventory, you promotions; more couple reducing I to a months And you speaking of that with then, in Is guess now

Mike McLamb

certainly. Yes,

we we it that, to that that but pretty feel watch a reason we're everything expect. about Ray's other sitting monitor think good reduce promotions last honestly, carefully; and of there's as that I we we're and with the XX-feet if out year, And an and inventory Galeon with expected increase we sizeable then shows seems we that And There and we and we that; the line above increase from in Sea we is fiscal ever inventory, just inventory dove-tail inventory that it you Azimut there. Sea reduction, boats. we'd through in commented have quarter with replenishing many and expect as boat we normal talked here. in normal, you brands, reduction from large coming XXXX are in it, inventory And from reduce year things different decline go we nothing Brett from see were going than it would this is given anticipated to how product to would we said what Ray, as so that a this then our a up. perspective, of our would

Operator

Longbow MacGregor We will from next our question David now take of Research.

David MacGregor

today, of be? a SG&A, in stand? what does on clean Just leverage quarter I that where mean the rate should

Mike McLamb

last when struggles XX% dollar spot. say that it guys there good, something would some you from to I heard that a pretty like me theoretical range, had sweet leverage you to was the sale, have year that. of was you tell that in to ought time be in you had time, before XX% but We've getting

revenue did you which what year have a have seasonal the you leverage the coming we last think coming as small that in; opened theoretical I you have doesn't in, acquisition we I a our much have still you operations think doesn't coming quarter, northern exists that changed, not is have that's charter Then a have So much as in. operation. in as doesn't so much have store which have you

David MacGregor

know are right I manufacturers working to And prices. now raise then,

you what accepting pass-through how's customers of terms and just seeing your how in inflation are So in your the play are that out and the of invoices; going terms of that? -- to timing and

Mike McLamb

margins I really on to and we more typically average probably started year do. our have would than is bit pass our this XXX little we points. the very summer, increase of Honestly, at through of loudly a And of basis really that ability it seen end last the say increase by spoken in

the disciplines that done that the of is have And [ph]. also and new and excitement a team we've all the they of innovations the our so increase models amount with training cost and any overcoming

David MacGregor

line the increases don't? sensitivities the seen to way In customers different different some other respond words, or pricing. structure in points price it, might though, another? mix one others Are to your We've the a tilting there be

Mike McLamb

on product successful lot it's itself, the this No, on mean, higher passing on every year the board it's it's the increase us I there modestly -- I brand-by-brand Brett there basically differences has of -- price of than to and there a it there a with do been talked team, this we've a And it's the really, of our price that. every that increase across -- always about is a a been in allows better training is is year, basis year lot mean, product.

David MacGregor

up us little that downloaded digit; And then you just units for a about back mid-single just bit. Joe's to question the could being at open

negatives? talking and where fishing boats, were where and premium in did upward strengths You larger run-abouts -- started-off about the you

Mike McLamb

have. break -- think we We about you when segment, say brands we you down it premium, but think don't typically by about all when different the

But more be quarter. product reasonably great the assume of probably done is has category rest there maybe would you a a it's which it's in few all point our a well product aluminum. a could still but -- exceptions with the product of that price You

David MacGregor

you And now? about what say can Pontoon right sales

Mike McLamb

And been quarter, that sales it's for product right a anyway. December type of quarter late. Pontoon low very a of have volume mixed

David MacGregor

on you talked a boat the higher shows dig if sounds level And I just boats wondered XXXX? little then deeper from talk in things that's you it level. could away specifically just and -- about or about you last took positive you a a giving very two question; saw that at shows, maybe one or these high of confidence in

Mike McLamb

just It's year-over-year trends shows. trends, which

David MacGregor

seeing it of Is that order typically patterns are indicators? customers leading or types certain you are good

Mike McLamb

It's us. what selling trends see the at contracted are just units they're seeing in to folks contract, deposits you so selling -- events that had show talk well. you the look and We their in and as boat other shows industry take then and

David MacGregor

as And you're it's saying? broadly positive, positive it's

Mike McLamb

it's improving. Yes, Yes.

Operator

take James question now Hardiman next Securities. We'll from our of Wedbush

James Hardiman

to but bit units So maybe that we really tie doing a day, to little guidance. the we thinking worse sounds I at quarter were wanted expected the about end than like first it of were maybe ASP well; the how

sales; You up a the talked about to would get that on guys and little that industry you the the I call last same-store on generally about that's notion you pricing. X%, of that had said think based bit be XX%, would X%

on which growth reasonable? we the just you because think is weeks run think wasn't side you think one, with sustainable? January, back in at three, maybe ASP seems what or do sort reason that industry that's that still could we that Two, that domestic give particularly questions three on And us in first rate quarter, industry the of saw any for maybe to quarter? an was least of algorithm to really the good respect think the idea, to guess changed to if first growth that; unit as I if do X% XX% good, we three be are did January, has the the So to X% we quite

Mike McLamb

overall as we you the today, growth still X% with have still feel same-store which our growing, good of XX% about There thoughts guys. industry categories would we sales comment imply ASP on than than it X%, terms which get continue to are industry to feel within of growing closes. I number I talked those to that has mid-single as be we're of No can January it's to digit the their like categories the we're up going good a up combination But cognizant on of various can product do we've touch we X%, you whether one that is are on others backed-off can't two single-digit going couple tell like that X%, in for be a that from expansion we some of sales same-store XXXX specifically these. and other is all think -- something obviously feel unit that. faster base to to of the you to grower, there of of anywhere which products, a outlook when that about open opportunities it's in

James Hardiman

trying then you than -- or the level the but figure coast last insights, about out bigger category you've it first maybe me, get for thing meaningful talked any as weather to I'm weather deal region if better others? just quarter; any was versus obviously, within further is Florida? And worse -- up geography the maybe in a inland,

Brett McGill

are geographic concerns seeing commenting some overall. not recent the figures specific there, or of issues was out that a was I on attendance; think generally, kind I think weather that. we're attendance factor, on, But -- just comment so any Yes, I that show they're boat affected contributing

Mike McLamb

is Show. a quarter usually come that back got northerners Anyhow by Fort It's Lauderdale [ph] Florida. as led Boat here the and you've

would to natural this of quarter. go probably the in know, the but you Florida edge sort So quarter

Operator

of next our Securities. take We'll IFS Ronald Instructions] [Operator question from Bookbinder

Ronald Bookbinder

during execution. catch-up the morning have The it Year? in supply outboard were off the the Good to look the been how was does manufacturers on able outboard fall New [ph] the and and fairly tight, for season great congratulations --

Brett McGill

issues We kind caught up deals we -- across -- more are of we were we things not feels like [ph]. up so those and it explained in as don't were, it caught but if much as felt we're the like getting summer pretty constrained, running

Ronald Bookbinder

like little how there the seems use boats boats people Are the it comparing? lower been priced and and year-over-year used in of might've used a your to pricing how's supply is boats, weakness units. And moving on

Mike McLamb

good have. interested are model trends which don't coming We after any that manufacturing use is trends are sought lineup the what new really are to of highly Late which see people from models unusual of pretty our a we people boats. out partners see always trades now We for moving in and XXXX.

late of it's boat of I the struggling because think generally used fairly [indiscernible]. models lack pricing

Ronald Bookbinder

they you but and been Are Azimut are is and might've looking the the are of satisfied something that going -- or they something one they category? mentioned maybe for know, that something? looking over out or with boats; or else? are be -- You those a of to Ray types Galeon in Sea that responding Angola moving for to isn't boats a that And how moving customers continued

Brett McGill

Yes, I times. for with think these recognizing been Galeon some brands some of Azimut, this carrying and starts we've the quite that

water, quality, see up. in boats these the they they holding see see the customers they're Our how

This what, product. train this carrying to we and way, quality So was, came, wasn't, the shift now that customers Sea guess to this when product have been we people announcement "Hey, market get new have a Ray for product, when you." the we had into and we've

for great So the it. some of we're is boat that consumers season seen that looking at right now maybe do still this to show in product that that opportunity haven't launches we're transition;

bunch task, been So help does an product the of not when carrying it years successfully but sure we've now. easy for a it's

Ronald Bookbinder

there it running And health it opportunity just level? continue could had has at lastly it insurance, on the past expect we several or verse leveled-off same is high to that should the be it been an and quarters;

Mike McLamb

Well, expense increased about an off to not talk insurance quarter, so have is now. as thankfully leveled health I did this it

If before, said off, I you gave we assume it's guidance, like remember overtime. so we it on get to not they in -- going drop got actuary it's right -- dropped, and not it that calls was so it's the that theory, keep we've to did is leveled the

quarter first but we so reduction possible also today, it's don't see And get through growth. in but see at least it theory, in we don't we the go to XXXX, as a

maybe as the Thanks that March discussion quarter, up we and around healthcare for a hopefully, nicer into though. quarter costs. have even bringing June get we So

Ronald Bookbinder

my Okay, good great. into taking season. questions we for luck you as and And the thank move

Operator

to at Mr.McGill, further any conference questions to turn back or additional I'd closing are this there you appears for like time. the It no remarks.

Brett McGill

day. All your today. joining right, questions and for off everybody York for before bit joining a of to your little Boat and we so thank to you answer the are New us, head today. the later And us I Mike enjoy Show thanks rest available

Operator

Thank This for concludes your all you participation. today's call.

disconnect. You may now

MarineMax (HZO) 23 Jan 192019 Q1 Earnings call transcript