MarineMax has recorded a new revenue record with an increase of more than 8% for the 2025 second quarter to $631.5 million.
Revenue for the same period in 2024 was $582.9 million and comparable same-store revenue increased 11%.
The results for the company’s fiscal 2025 second quarter ended 31 March 2025 show a same-store sales increase of 11% and a gross profit margin of 30%.
There was a net income of $3.3 million.
Gross profit for the quarter decreased 0.5% to $189.5 million from $190.4 million in the prior-year period and gross profit margin of 30% decreased from 32.7% in 2024, primarily due to lower boat margins due to the challenging retail environment.
The decrease in margin in the fiscal 2025 second quarter also reflected a higher proportion of boat sales during the period.
Net income was $3.3 million, for the fiscal 2025 second quarter, compared with net income of $1.6 million, in the same period last year.
Despite facing a weak retail market and an uncertain macroeconomic climate, we delivered a strong second-quarter performance.
Brett McGill
Adjusted net income for the fiscal 2025 second quarter was $5.4 million, compared with adjusted net income of $4.1 million, in the prior-year period.
Adjusted EBITDA for the quarter ended March 31, 2025, increased to $30.9 million, compared with $29.6 million for the same period in 2024.
“Despite facing a weak retail market and an uncertain macroeconomic climate, we delivered a strong second-quarter performance,” said Brett McGill, CEO and president of MarineMax.
“While challenging conditions are exerting significant retail margin pressure across the recreational marine industry, our year-to-date gross margin of 32.7% is a testament to the strength of our strategic diversification.”
Premium brand focus
And he explained that the company’s expansion into high-value segments such as marinas, superyacht services, and finance and insurance, together with its premium brand focus, has led to a more resilient business model.
“As we move through April we continue to see strong consumer interest in the boating lifestyle,” Brett continued.
But he warned that new sales have slowed since the start of April despite web traffic and online engagement remaining high.
“This suggests growing concern among consumers about the actual effects to the economy from the tariffs,” he said.
As such, MarineMax has lowered its fiscal 2025 guidance and estimates adjusted EBITDA to be between $140 million and $170 million.
