MarineMax has released its financial results for the fourth quarter and full year ended 30 September 2025.
For the fourth quarter, revenue totalled $552.2m compared with $563.1m in the same period last year. Same-store sales rose by 2.3 per cent, driven by growth in used boat revenue, finance and insurance income, parts and services, and contributions from superyacht services and marina operations, including IGY.
Gross profit reached $191.4m, or 34.7 per cent of revenue, compared with $193.2m, or 34.3 per cent, a year earlier. Adjusted EBITDA was $17.3m, compared with $33.5m in the prior year. The company reported a net loss of $0.9m, or $0.04 per share.
For the full fiscal year, revenue was $2.3bn, with same-store sales down 2.1 per cent. Gross profit was 32.5 per cent, and the company recorded a net loss of $31.6m, or $1.43 per share. Adjusted earnings per share were $0.61, and adjusted EBITDA was $109.8m.
“Our full-year adjusted earnings and adjusted EBITDA were in line with our revised guidance, demonstrating the resilience of our diversified business model,” says Brett McGill, chief executive officer and president of MarineMax. “While new boat sales and pricing remained under pressure in the fourth quarter due to the soft retail environment industrywide, our continued strategic expansion into higher-margin businesses is driving long-term value creation.”
McGill notes that strong contributions from finance and insurance, parts, services, the superyachts division, and marina operations, including IGY, supported a gross margin of 34.7 per cent during a period of industry-wide margin compression.
He adds that recent initiatives, such as the launch of MarineMax’s flagship Yacht Sales and Service Centre in Fort Myers, Florida, underline its ongoign commitment to service quality. The company has also streamlined its product portfolio to focus on brands that match current demand.
In his statement, the CEO points to continued investment in digital innovation through wholly owned subsidiary New Wave Innovations, citing progress in customer engagement and technology. He also highlights strong results from the recent Fort Lauderdale International Boat Show, where MarineMax reported higher revenue than the previous year and a post-pandemic record in unit sales.
MarineMax has expanded its board of directors with the appointment of Odilon Almeida and Dan Schiappa. Both bring experience in scaling operations and corporate governance.
Looking ahead, MarineMax expects fiscal 2026 adjusted EBITDA of between $110m and $125m, with adjusted net income projected between $0.40 and $0.95 per diluted share. McGill says the outlook reflects a cautious approach given broader economic uncertainty but maintains confidence in the company’s long-term growth strategy and diversified business model.
MarineMax operates over 120 locations worldwide, including more than 70 dealerships and 65 marina and storage facilities. Its integrated portfolio includes IGY Marinas, Fraser Yachts Group, Northrop & Johnson, Cruisers Yachts, Intrepid Powerboats, Boatyard, Boatzon, and MarineMax Vacations in the British Virgin Islands.
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