Northcoast analyst Seth Woolf said dealer checks indicate sales growth continued in Q3, but at a slower rate versus Q2. Dealers saw a 300bps deceleration in unit growth trends with a demand peak in late July/early August and said the overall market has become more competitive with a rise in inventory levels. As a result, Woolf lowered Bruswick (BC) 2H 216 estimates to reflect slower retail growth. The analyst has Buy ratings on both Brunswick and MarineMax (HZO).

Analyst Rolle holds a conference call with CEO McGill and CFO McLamb on May 1 at 10 am hosted by DA Davidson.

B. Riley lowered the firm's price target on MarineMax to $38 from $40 and keeps a Buy rating on the shares. The company reported fiscal Q2 results that came in below expectations on a weaker than expected recovery in boat demand and continued pressure on margins due to elevated promotional activity, the analyst tells investors in a research note. The firm, however, is "somewhat optimistic" that any potential impact on MarineMax would be modest given both the penetration of higher-selling boats and the benefit of the ancillary business acquired in recent years.

Citi analyst James Hardiman raised the firm's price target on Brunswick to $100 from $98 and keeps a Buy rating on the shares. The company's Q1 performance and Q2 guide were both in-line with expectations but better than feared, and while management maintained the full year outlook, investor skepticism was evident in the form of a 7% decline in shares post earnings, the analyst tells investors in a research note. The firm says Brunswick "is far from out of the woods," with consumer demand and by extension dealer willingness to take on orders in a "punishing" interest rate environment and uncertain macro backdrop the key to the near term.

MarineMax is down -16.5%, or -$4.48 to $22.70.

MarineMax is down -11.3%, or -$3.06 to $24.12.

Sees 2024 revenue $6.0B-$6.2B, consensus $6.03B.

Reports Q1 revenue $1.37B, consensus $1.36B. "Our businesses delivered solid results, consistent with expectations, as our continued market share gains, benefits from a wealth of outstanding new products, and comprehensive cost control measures resulted in financial performance in-line with estimates, despite continued economic uncertainty. Our early season internal boat unit retail performance is tracking with our initial outlook of flat to 2023, with boat show results slightly above prior year levels on a unit basis and with a richer mix of premium products. We continue to support retail sales with levels of marketing and promotions appropriate to the environment, while successfully managing field inventory to target levels ahead of the prime selling season. Marine dealers, manufacturers and retailers continue to demonstrate caution with early-season wholesale ordering patterns, resulting in reduced shipment rates across our product businesses as compared to Q1 2023 in which pipelines were being filled. During the quarter, we successfully completed a planned debt issuance of $400M to cover the refinance of our only near-term debt, further solidifying our cash position and balance sheet," said CEO David Foulkes.