MarineMax saw revenue of $611.3 million for its fiscal 2026 third quarter ended June 30 2026, down 7% to $611.3 million from $657.2 million in the prior-year period.
Gross profit increased by 9.2% to $218.1 million, despite a 7% decline in same-store sales.
Gross margin increased to 35.7%, driven by improved boat margins and continued growth of the company’s higher-margin sectors such as superyacht services, marinas, finance and insurance, and parts and service.
The company had a net income of $15.4 million, compared with a net loss of $52.1 million, in the prior-year period, with adjusted EBITDA of $51.3 million, up from $35.5 million.
Higher-margin businesses
Inventories decreased $118 million year-over-year – a decrease of 13% to $788.6 million from $906.2 million in the prior-year period.
Improved margins on new and used boats, along with increased contributions from higher-margin businesses such as superyacht services, marinas, finance and insurance, and parts and service, drove higher profitability despite lower same-store sales.
“While demand remains tempered by a cautious consumer environment, industry inventory levels continue to normalise, supporting healthier pricing dynamics and margin recovery,” said Brett McGill, chief executive officer and president of MarineMax.
“Our diversified business model and disciplined operating approach position us to outperform the broader marine market.”
And he predicted that MarineMax fiscal 2026 adjusted EBITDA to be around $110 million to $125 million.
“While we remain mindful of geopolitical and macroeconomic uncertainty, we are encouraged by the continued strength of our higher-margin businesses, improving boat margins, and the progress we have made strengthening our balance sheet,” McGill concluded.
