MarineMax announced that damage and disruption caused by Hurricane Helene will cause its adjusted EBITDA to arrive near the low end of its guidance range for the fiscal year ended September 30 while revenue is expected to be modestly lower than anticipated.
Under its previous guidance, the recreational boat, yacht and superyacht services company had forecast fiscal year 2024 adjusted EBITDA in the range of $155 million to $190 million, down from an adjusted EBITDA of $239.5 million in 2023.
The company said it is working “diligently to quantify the effects of Hurricane Helene on its financial results and operations, including the loss of physical assets and impact to revenue which was adversely affected by the closure of boat and yacht insurance markets as the storm approached.”
“Our foremost concern is for the safety and well-being of our team members, their families and the residents of the communities throughout the regions affected by this devastating storm,” said Brett McGill, chief executive officer and president of MarineMax. “Florida and the Southeast are two of MarineMax’s largest markets. Damage and disruption to certain of our locations on the West Coast of Florida has been significant, while the damage to other locations in the Southeast has been limited. We are working to fully assess the impact of the storm on our operations and ensure that affected locations are up and running as quickly as possible.”
