$HZO
MARINEMAX INC

2021 Q2 Form 10-Q Financial Statement

#000156459021038279 Filed on July 27, 2021

View on sec.gov

Income Statement

Concept 2021 Q2 2020 Q2 2020 Q1
Revenue $666.3M $498.3M $308.5M
YoY Change 33.72% 29.94% 1.61%
Cost Of Revenue $461.7M $374.9M $229.7M
YoY Change 23.16% 31.17% 0.14%
Gross Profit $204.7M $123.5M $78.78M
YoY Change 65.79% 26.35% 6.16%
Gross Profit Margin 30.72% 24.77% 25.54%
Selling, General & Admin $123.8M $74.84M $69.06M
YoY Change 65.38% 8.51% 7.95%
% of Gross Profit 60.47% 60.62% 87.67%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $4.079M $3.300M $3.200M
YoY Change 23.61% 13.79% 14.29%
% of Gross Profit 1.99% 2.67% 4.06%
Operating Expenses $123.8M $74.84M $69.06M
YoY Change 65.38% 8.51% 7.95%
Operating Profit $80.91M $48.62M $9.716M
YoY Change 66.43% 69.14% -4.99%
Interest Expense $639.0K $2.133M $3.013M
YoY Change -70.04% -27.35% -0.66%
% of Operating Profit 0.79% 4.39% 31.01%
Other Income/Expense, Net
YoY Change
Pretax Income $80.27M $46.48M $6.703M
YoY Change 72.69% 80.12% -6.81%
Income Tax $20.70M $11.60M $1.600M
% Of Pretax Income 25.79% 24.96% 23.87%
Net Earnings $59.62M $34.93M $5.065M
YoY Change 70.69% 82.99% -4.49%
Net Earnings / Revenue 8.95% 7.01% 1.64%
Basic Earnings Per Share $2.69
Diluted Earnings Per Share $2.59 $1.58 $0.23
COMMON SHARES
Basic Shares Outstanding 22.13M 21.50M 21.52M
Diluted Shares Outstanding 23.04M 22.05M 21.96M

Balance Sheet

Concept 2021 Q2 2020 Q2 2020 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $200.1M $86.90M $64.40M
YoY Change 130.29% 21.37% 1.26%
Cash & Equivalents $200.1M $86.92M $64.41M
Short-Term Investments
Other Short-Term Assets $18.32M $11.10M $9.400M
YoY Change 65.01% -0.89% 6.82%
Inventory $209.4M $314.1M $506.9M
Prepaid Expenses
Receivables $60.20M $69.50M $35.81M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $488.1M $481.6M $616.5M
YoY Change 1.34% -15.01% 7.68%
LONG-TERM ASSETS
Property, Plant & Equipment $270.7M $181.2M $143.2M
YoY Change 49.39% 26.43% 1.62%
Goodwill $181.0M
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $10.65M $7.800M $7.755M
YoY Change 36.54% -82.82% -78.22%
Total Long-Term Assets $468.0M $254.4M $256.6M
YoY Change 83.98% 34.79% 45.38%
TOTAL ASSETS
Total Short-Term Assets $488.1M $481.6M $616.5M
Total Long-Term Assets $468.0M $254.4M $256.6M
Total Assets $956.1M $736.0M $873.1M
YoY Change 29.9% -2.57% 16.57%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $28.74M $39.40M $15.26M
YoY Change -27.05% 24.68% 31.25%
Accrued Expenses $99.97M $55.00M $34.63M
YoY Change 81.77% 47.22% -6.64%
Deferred Revenue $26.79M
YoY Change -19.61%
Short-Term Debt $2.861M $147.0M $362.9M
YoY Change -98.05% -49.28% 21.97%
Long-Term Debt Due $3.293M
YoY Change
Total Short-Term Liabilities $221.6M $271.6M $446.4M
YoY Change -18.42% -29.1% 17.61%
LONG-TERM LIABILITIES
Long-Term Debt $48.37M $0.00 $0.00
YoY Change
Other Long-Term Liabilities $105.0M $35.10M $1.132M
YoY Change 199.02% 2600.0% 13.2%
Total Long-Term Liabilities $48.37M $35.10M $1.132M
YoY Change 37.82% 2600.0% 18.91%
TOTAL LIABILITIES
Total Short-Term Liabilities $221.6M $271.6M $446.4M
Total Long-Term Liabilities $48.37M $35.10M $1.132M
Total Liabilities $383.3M $310.9M $486.0M
YoY Change 23.29% -19.37% 27.72%
SHAREHOLDERS EQUITY
Retained Earnings $217.2M
YoY Change 22.93%
Common Stock $273.8M
YoY Change 2.45%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $572.8M $425.0M $387.1M
YoY Change
Total Liabilities & Shareholders Equity $956.1M $736.0M $873.1M
YoY Change 29.9% -2.57% 16.57%

Cashflow Statement

Concept 2021 Q2 2020 Q2 2020 Q1
OPERATING ACTIVITIES
Net Income $59.62M $34.93M $5.065M
YoY Change 70.69% 82.99% -4.49%
Depreciation, Depletion And Amortization $4.079M $3.300M $3.200M
YoY Change 23.61% 13.79% 14.29%
Cash From Operating Activities $183.0M $239.9M $700.0K
YoY Change -23.71% 260.21% -75.86%
INVESTING ACTIVITIES
Capital Expenditures -$6.373M -$2.100M -$1.700M
YoY Change 203.48% -61.82% -65.31%
Acquisitions
YoY Change
Other Investing Activities -$60.53M $0.00 $1.000M
YoY Change -100.0% 150.0%
Cash From Investing Activities -$66.80M -$2.100M -$700.0K
YoY Change 3081.19% -88.27% -84.44%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -58.97M -215.5M 28.60M
YoY Change -72.64% 428.19% 7.12%
NET CHANGE
Cash From Operating Activities 183.0M 239.9M 700.0K
Cash From Investing Activities -66.80M -2.100M -700.0K
Cash From Financing Activities -58.97M -215.5M 28.60M
Net Change In Cash 57.24M 22.30M 28.60M
YoY Change 156.67% 182.28% 13.94%
FREE CASH FLOW
Cash From Operating Activities $183.0M $239.9M $700.0K
Capital Expenditures -$6.373M -$2.100M -$1.700M
Free Cash Flow $189.4M $242.0M $2.400M
YoY Change -21.74% 235.64% -69.23%

Facts In Submission

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<div style="align:left;"> <table border="0" cellpadding="0" cellspacing="0" style="border-collapse:collapse; width:100%;"> <tr> <td style="width:4.54%;white-space:nowrap" valign="top"> <p style="margin-bottom:0pt;margin-top:0pt;font-weight:bold;font-family:Times New Roman;font-size:10pt;font-style:normal;text-transform:none;font-variant: normal;"><span style="font-weight:bold;font-family:Times New Roman;font-size:10pt;font-style:normal;text-transform:none;font-variant: normal;">1.</span></p></td> <td valign="top"> <p style="margin-bottom:0pt;margin-top:0pt;font-weight:bold;font-style:normal;text-transform:none;font-variant: normal;font-family:Times New Roman;font-size:10pt;">COMPANY BACKGROUND:</p></td></tr></table></div> <p style="text-align:justify;margin-top:6pt;margin-bottom:0pt;text-indent:4.54%;color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">We are the largest recreational boat and yacht retailer in the United States.  We engage primarily in the retail sale, brokerage, and service of new and used boats, motors, trailers, marine parts and accessories and offer slip and storage accommodations in certain locations.  In addition, we arrange related boat financing, insurance, and extended service contracts.  We also offer the charter of power yachts in the British Virgin Islands.  As of June 30, 2021, we operated through 77 retail locations in 21 states, consisting of Alabama, California, Connecticut, Florida, Georgia, Illinois, Maryland, Massachusetts, Michigan, Minnesota, Missouri, New Jersey, New York, North Carolina, Ohio, Oklahoma, Rhode Island, South Carolina, Texas, Washington, and Wisconsin. Our MarineMax Vacations operation maintains a facility in Tortola, British Virgin Islands. We also own Fraser Yachts Group and Northrop &amp; Johnson, leading superyacht brokerage and luxury yacht services companies with operations in multiple countries. Cruisers Yachts, a wholly-owned MarineMax subsidiary, manufactures boats and yachts with sales through our select retail dealership locations and through independent dealers.</p> <p style="text-align:justify;margin-top:6pt;margin-bottom:0pt;text-indent:4.54%;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">We are the nation’s largest retailer of Sea Ray and Boston Whaler recreational boats which are manufactured by Brunswick Corporation (“Brunswick”). Sales of new Brunswick boats accounted for approximately 33% of our revenue in fiscal 2020.  Sales of new Sea Ray and Boston Whaler boats, both divisions of Brunswick, accounted for approximately 15% and 16%, respectively, of our revenue in fiscal 2020. Brunswick is a world leading manufacturer of marine products and marine engines. </p> <p style="text-align:justify;margin-top:6pt;margin-bottom:0pt;text-indent:4.54%;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">We have dealership agreements with Sea Ray, Boston Whaler, Harris, and Mercury Marine, all subsidiaries or divisions of Brunswick.  We also have dealer agreements with Italy-based Azimut-Benetti Group’s product line for Azimut and Benetti yachts and mega yachts.  These agreements allow us to purchase, stock, sell, and service these manufacturers’ boats and products.  These agreements also allow us to use these manufacturers’ names, trade symbols, and intellectual properties in our operations. The agreements for Sea Ray and Boston Whaler products, respectively, appoint us as the exclusive dealer of Sea Ray and Boston Whaler boats, respectively, in our geographic markets. In addition, we are the exclusive dealer for Azimut Yachts for the entire United States. Sales of new Azimut yachts accounted for approximately 9% of our revenue in fiscal 2020.  We believe non-Brunswick brands offer a migration for our existing customer base or fill a void in our product offerings, and accordingly, do not compete with the business generated from our other prominent brands.</p> <p style="text-align:justify;margin-top:6pt;margin-bottom:0pt;text-indent:4.54%;color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">In May 2021, we purchased <span style="color:#000000;">all of the outstanding equity of KCS International Inc. (“Cruisers Yachts”). </span>This acquisition <span style="Background-color:#FFFFFF;">provides us a premium, American built </span>yacht for our product portfolio. Prior to the acquisition, we were a dealer for Cruiser Yachts. Cruisers Yachts also operates with independent dealers and is recognized as one of the world’s premier manufacturers of premium yachts.</p> <p style="text-align:justify;margin-top:6pt;margin-bottom:0pt;text-indent:4.54%;color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">In October 2020, we purchased <span style="color:#000000;">all of the outstanding equity of Skipper Marine Corp., Skipper Marine of Madison, Inc., Skipper Marine of Fox Valley, Inc., Skipper Bud’s of Illinois, Inc., Skipper Marine of Chicago-Land, Inc., Skipper Marine of Michigan, Inc., and Skipper Marine of Ohio, LLC, (collectively, “SkipperBud’s”). </span>This acquisition <span style="Background-color:#FFFFFF;">significantly increased our presence in the Great Lakes region and the West Coast of the United States. SkipperBud’s is one of the largest boat sales, brokerage, service and marina/storage groups in the United States</span><span style="Background-color:#FFFFFF;color:#5F6E88;">. </span></p> <p style="text-align:justify;margin-top:6pt;margin-bottom:0pt;text-indent:4.54%;color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">As is typical in the industry, we deal with most of our manufacturers, other than Sea Ray, Boston Whaler, and Azimut Yachts, under renewable annual dealer agreements, each of which gives us the right to sell various makes and models of boats within a given geographic region.  Any change or termination of these agreements, or the agreements discussed above, for any reason, or changes in competitive, regulatory or marketing practices, including rebate or incentive programs, could adversely affect our results of operations.  Although there are a limited number of manufacturers of the type of boats and products that we sell, we believe that adequate alternative sources would be available to replace any manufacturer other than Sea Ray and Azimut as a product source.  These alternative sources may not be available at the time of any interruption, and alternative products may not be available at comparable terms, which could affect operating results adversely.</p> <p style="text-align:justify;margin-top:6pt;margin-bottom:0pt;text-indent:4.54%;color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">From March 2020 through June 2020, we temporarily closed certain departments or locations based on guidance from local government or health officials as a result of the COVID-19 global pandemic<span style="color:#000000;">. We are </span>following guidelines to ensure we are safely operating as recommended. <span style="Background-color:#FEFEFE;">As the COVID-19 pandemic is complex and evolving rapidly with many unknowns, the Company will continue to monitor ongoing developments and respond accordingly.</span> Management expects its business, across all of its geographies, will be impacted to some degree, but the significance of the impact of the COVID-19 pandemic on the Company’s business and the duration for which it may have an impact cannot be determined at this time. </p> <p style="text-align:justify;margin-top:6pt;margin-bottom:0pt;text-indent:4.54%;color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">General economic conditions and consumer spending patterns can negatively impact our operating results.  Unfavorable local, regional, national, or global economic developments or uncertainties regarding future economic prospects could reduce consumer spending in the markets we serve and adversely affect our business.  Economic conditions in areas in which we operate dealerships, </p> <p style="text-align:justify;margin-top:6pt;margin-bottom:0pt;color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"><span style="color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">particularly Florida</span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">,</span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"> in which we generated approximately </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">51</span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">%, </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">54</span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">% and </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">54</span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">% of our revenue during fiscal 2018, 2019, and 2020, respectively, can have a major impact on our operations.  Local influences, such as corporate downsizing, military base closings, inclement weather such as Hurricane Sandy in 2012 or Hurricanes Harvey and Irma in 2017, environmental conditions, and specific events, such as the BP oil spill in the Gulf of Mexico in 2010, also could adversely affect, and in certain instances have adversely affected, our operations in certain markets.</span></p> <p style="text-align:justify;margin-top:6pt;margin-bottom:0pt;text-indent:4.54%;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">  In an economic downturn, consumer discretionary spending levels generally decline, at times resulting in disproportionately large reductions in the sale of luxury goods. Consumer spending on luxury goods also may decline as a result of lower consumer confidence levels, even if prevailing economic conditions are favorable. As a result, an economic downturn would likely impact us more than certain of our competitors due to our strategic focus on a higher end of our market. Although we have expanded our operations during periods of stagnant or modestly declining industry trends, the cyclical nature of the recreational boating industry or the lack of industry growth may adversely affect our business, financial condition, and results of operations. Any period of adverse economic conditions or low consumer confidence is likely to have a negative effect on our business. </p> <p style="text-align:justify;margin-top:6pt;margin-bottom:0pt;text-indent:4.54%;color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Historically, in periods of lower consumer spending and depressed economic conditions, we have, among other things, substantially reduced our acquisition program, delayed new store openings, reduced our inventory purchases, engaged in inventory reduction efforts, closed a number of our retail locations, reduced our headcount, and amended and replaced our credit facility.  Acquisitions remain an important strategy for us, and, subject to a number of conditions, including macro-economic conditions and finding attractive acquisition targets, we plan to continue to explore opportunities through this strategy.</p>
us-gaap Number Of Reportable Segments
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2
hzo Recreational Boat Dealers In Number
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30
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2
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CY2021Q2 us-gaap Operating Lease Liability
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us-gaap Revenue Remaining Performance Obligation Expected Timing Of Satisfaction Explanation
RevenueRemainingPerformanceObligationExpectedTimingOfSatisfactionExplanation
As a practical expedient, because repair and maintenance service contracts have an original duration of one year or less, we do not consider the time value of money, and we do not disclose estimated revenue expected to be recognized in the future for performance obligations that are unsatisfied (or partially unsatisfied) at the end of the reporting period or when we expect to recognize such revenue.
CY2020Q3 us-gaap Contract With Customer Asset Net Current
ContractWithCustomerAssetNetCurrent
2600000
CY2021Q2 us-gaap Contract With Customer Asset Net Current
ContractWithCustomerAssetNetCurrent
6800000
CY2021Q2 us-gaap Lessee Operating Lease Renewal Term
LesseeOperatingLeaseRenewalTerm
P25Y
CY2021Q2 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P13Y
CY2020Q2 us-gaap Operating Lease Cost
OperatingLeaseCost
3600000
CY2021Q2 us-gaap Operating Lease Cost
OperatingLeaseCost
6000000.0
us-gaap Operating Lease Cost
OperatingLeaseCost
10300000
us-gaap Operating Lease Cost
OperatingLeaseCost
18300000
CY2021Q2 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.057
CY2021Q2 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
4110000
CY2021Q2 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
15373000
CY2021Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
14116000
CY2021Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
11960000
CY2021Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
9966000
CY2021Q2 hzo Lessee Operating Lease Liability Payments Due After Year Four
LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFour
97233000
CY2021Q2 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
152758000
us-gaap Operating Lease Payments
OperatingLeasePayments
7560000
us-gaap Operating Lease Payments
OperatingLeasePayments
12911000
us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
1670000
us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
71838000
CY2020Q3 us-gaap Inventory Valuation Reserves
InventoryValuationReserves
2400000
CY2021Q2 us-gaap Inventory Valuation Reserves
InventoryValuationReserves
600000
CY2021Q2 us-gaap Inventory Work In Process
InventoryWorkInProcess
10108000
CY2021Q2 us-gaap Inventory Raw Materials
InventoryRawMaterials
9729000
CY2020Q3 us-gaap Inventory Net
InventoryNet
298002000
CY2021Q2 us-gaap Inventory Net
InventoryNet
209418000
us-gaap Impairment Of Long Lived Assets Held For Use
ImpairmentOfLongLivedAssetsHeldForUse
0
CY2020Q3 us-gaap Intangible Assets Net Including Goodwill
IntangibleAssetsNetIncludingGoodwill
84300000
CY2021Q2 us-gaap Intangible Assets Net Including Goodwill
IntangibleAssetsNetIncludingGoodwill
186700000
us-gaap Number Of Reportable Segments
NumberOfReportableSegments
2
us-gaap Number Of Reportable Segments
NumberOfReportableSegments
2
CY2020Q3 us-gaap Goodwill
Goodwill
84240000
us-gaap Goodwill Acquired During Period
GoodwillAcquiredDuringPeriod
96497000
us-gaap Goodwill Foreign Currency Translation Gain Loss
GoodwillForeignCurrencyTranslationGainLoss
280000
CY2021Q2 us-gaap Goodwill
Goodwill
181017000
CY2020Q2 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
11600000
CY2021Q2 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
20700000
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
16400000
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
40600000
CY2020Q2 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.249
CY2021Q2 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.257
us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.251
us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.249
hzo Inventory Financing Additional Available Borrowings
InventoryFinancingAdditionalAvailableBorrowings
102900000
CY2021Q2 us-gaap Long Term Debt Current
LongTermDebtCurrent
3293000
CY2021Q2 us-gaap Unamortized Debt Issuance Expense
UnamortizedDebtIssuanceExpense
617000
CY2021Q2 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
48374000
CY2020Q2 us-gaap Proceeds From Issuance Of Shares Under Incentive And Share Based Compensation Plans Including Stock Options
ProceedsFromIssuanceOfSharesUnderIncentiveAndShareBasedCompensationPlansIncludingStockOptions
600000
CY2021Q2 us-gaap Proceeds From Issuance Of Shares Under Incentive And Share Based Compensation Plans Including Stock Options
ProceedsFromIssuanceOfSharesUnderIncentiveAndShareBasedCompensationPlansIncludingStockOptions
900000
us-gaap Proceeds From Issuance Of Shares Under Incentive And Share Based Compensation Plans Including Stock Options
ProceedsFromIssuanceOfSharesUnderIncentiveAndShareBasedCompensationPlansIncludingStockOptions
1600000
us-gaap Proceeds From Issuance Of Shares Under Incentive And Share Based Compensation Plans Including Stock Options
ProceedsFromIssuanceOfSharesUnderIncentiveAndShareBasedCompensationPlansIncludingStockOptions
2600000
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
0
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
0
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercises In Period Total Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue
400000
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercises In Period Total Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue
1800000
CY2020Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
21499408
CY2021Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
22132915
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
21491117
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
22100190
CY2020Q2 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
546492
CY2021Q2 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
904764
us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
474238
us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
822336
CY2020Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
22045900
CY2021Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
23037679
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
21965355
us-gaap Number Of Reportable Segments
NumberOfReportableSegments
2
CY2021Q2 us-gaap Number Of Stores
NumberOfStores
77
CY2020Q2 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
498304000
CY2021Q2 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
666328000
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
1110951000
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
1600947000
CY2020Q2 us-gaap Operating Income Loss
OperatingIncomeLoss
48615000
CY2021Q2 us-gaap Operating Income Loss
OperatingIncomeLoss
80908000
us-gaap Operating Income Loss
OperatingIncomeLoss
73963000
us-gaap Operating Income Loss
OperatingIncomeLoss
165761000

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