MarineMax has recorded revenue of $527.4 million for its fiscal 2026 second quarter ending March 31 2026, down from a record $631.5 million in the same period last year.
Same-store sales decreased 15% due to the challenging environment, compared to an increase of 11% in the prior-year period.
The company reported a net loss of $2.6 million with an adjusted net income of $0.9 million compared with a net income of $3.3 million and adjusted net income of $5.5 million in the prior year.
However, the decline, primarily driven by lower boat sales, was partially offset by continued growth in higher-margin businesses, including finance and insurance, superyacht services and marinas.
Ongoing industry headwinds
However, the gross profit margin was 34.4% reflecting strength in higher margin businesses.
Adjusted EBITDA of $23.9 million compared with $30.9 million in the prior-year period.
In addition, inventories declined to $845.4 million, down from $973.4 million in the prior-year period.
“Our fiscal second quarter results reflected ongoing industry headwinds in the retail environment for new and used boat sales,” said MarineMax chief executive officer and president Brett McGill.
“While near-term market conditions remain pressured by geopolitical and macroeconomic uncertainty, including international concerns from tariffs, the long-term fundamentals of the recreational marine market remain strong.”
Cautiously optimistic outlook
Boat shows have produced strong and in some cases, record results for MarineMax, especially in premium segments, with retail channels supporting a cautiously optimistic outlook.
The organisation is also seeing demand in its superyacht and international marina businesses.
“As we look ahead, we recognise that geopolitical uncertainty and macroeconomic dynamics may continue to influence consumer behavior over the next several quarters,” McGill concluded.
“That said, our diversified business model, strong balance sheet and continued growth in higher-margin businesses position us well to navigate the environment and drive long-term value creation.”
