RTTNews | Oct 26, 2021 07:27AM EDT

07:27 Tuesday, October 26, 2021 (RTTNews.com) - While reporting financial results for the fourth quarter on Tuesday, recreational boat and yacht retailer MarineMax Inc. (HZO) initiated its earnings guidance for the full-year 2022, well above estimates, based on current business conditions, retail trends and other factors.

For fiscal 2022, the company now projects earnings in a range of $7.20 to $7.50 per share. On average, eight analysts polled by Thomson Reuters expect the company to report earnings of $6.49 per share for the year. Analysts' estimates usually exclude special items.

For the fourth quarter, the company reported net income of $32.8 million or $1.45 per share, up from $25.6 million or $1.13 per share in the prior-year quarter. Excluding charges, adjusted earnings for the quarter were $1.19 per share.

Revenue for the quarter increased 16 percent to $462.3 million from $398.8 million in the same quarter last year.

The Street was looking for earnings of $1.17 per share on revenues of $512.77 million for the quarter.

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